Post
Topic
Board Altcoin Discussion
Re: Airdrop in 2022
by
ItsNotSean
on 14/04/2022, 22:27:00 UTC
The Cardano network has an airdrop/faucet protocol called "DripDropz" ( https://dripdropz.io ).

If you have some ADA delegated to a Cardano stakepool (helping secure the Cardano network) you are eligible for any number of airdrops and/or faucet drips of some tokens/assets launched on Cardano's blockchain. There is a new, clean "Drip" every Cardano "Epoch" (5 days) (actually, not all "Drips" or "Drops" require having an active stake).

How it works is: you submit a public ADA wallet receive address, and DripDropz lets you know which tokens/assets you are eligible to claim, and how many. You can claim up to 10 different token/asset types per "Drip" (net fee of 2 ADA per Drip).

To claim your Dripped tokens/assets, you mark of your desired tokens, and send 5 ADA + 0.17 ADA xAction fee to an address DripDropz.io gives you. In return, DripDrops sends you a transaction that has all the selected tokens/assets and a refund of ~3.15 ADA (net=2 ADA).

You can Drip multiple times, though you can only Drip one of each token/asset per Cardano Epoch. I.e.:

1. Submit ADA wallet receive address to DripDropz.io; 
2. Find list of 50** eligible tokens to start; 
3. Select the 10 best tokens and submit the first Drip of Epoch (requires 5 ADA); 
4. Wait for the transaction to process; 
5. Receive your 10 tokens from step 2, plus 3.1 ADA refund (net fee 2 ADA); 
6. Resubmit ADA wallet receive address to DripDropz.io in that same Epoch; 
7. Find list of 40 eligible tokens (50 minus the first 10 already Dripped assets); 
8. If still worthwhile, select the 10 next-best tokens and submit the next Drip of Epoch (with 5 ADA); 
9. GoTo Step 4, Repeat.

At the start of the next Epoch, all the tokens/assets are reset for Dripping.

** hypothetical number

The various projects on DripDropz are here: https://dripdropz.io/explore-projects

Cardano is sort of the bastard network at the moment, so their tokens, NFTs and protocols are all fairly new and/or finishing up development. And as such, they are not valued terribly highly. Hardly any are currently worth anywhere near the 0.2 ADA you would pay as part of a 10-token Drip.

If Cardano remains the red-headed stepchild and never meets its potential to be a leading smart contract platform, many of the tokens, tools and protocols won't amount to more than clutter in your wallets.

But there's a chance some of these dripped tokens might be worth something in the fairly distant future. Especially if Cardano lives up to its aspirations.

Hope this helps.

PS - I recommend the Eternl Cardano light wallet to get started using Cardano. But check out all wallets here: https://www.cardanocube.io/collections/wallets