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Airdrop for Dummies - How to Conduct Token Airdrops for Viral Promotion!

NYC, USA, 13 Sep 2021, ZEXPRWIRE,

What is an Airdrop and why is it important?

Airdrop is a popular method of promoting a token and is typically used as the very first medium of promotion. A token's typical marketing cycle begins with airdrops to raise awareness about the token, followed by pre-sales to raise funds from early investors, and finally by exchange listings. In an airdrop, a pool of newly minted tokens is reserved for interested users to claim for free; they are only charged the network transaction gas fees. Typically, there is a limit to the number of times the airdrop can be claimed in order to ensure equitable distribution and prevent user hoarding.

What is the difference between an Airdrop and a Multi-Send?

As the name implies, token multi-send is a marketing technique in which token creators send the token in batches to multiple wallets. The idea is to distribute tokens to potential investors or actively monitored wallets such as liquidity pools in order to increase the token's visibility. When you multi-send tokens in this manner, you run the risk of sending tokens to unused or dormant wallets. Additionally, there is a good chance that wallet owners will be unaware that the tokens have been sent to them for an extended period of time, defeating the marketing objective. As a result, your time, effort, and money are wasted.

The primary advantage of an airdrop is that the tokens are claimed exclusively by interested investors; they will actively follow your token's progress and may even invest more during pre-sales or when you list on exchanges. You acquire champions for your token, and investors receive the tokens for free - a win-win situation.

What Is the difference between an Airdrop and a Pre-Sale?

The purpose of an airdrop is to generate widespread awareness of your token. You airdrop a small number of tokens but at no cost to the user, except for the gas fee, of course. Pre-sales are designed to raise funds for your liquidity and require a significant investment from buyers. For an early token, where the majority of tokens end up as shitcoins, pre-sales are viewed as a very risky decision, and it has become increasingly difficult for token creators to raise sufficient funding during pre-sales in recent months. Starting with airdrop also provides confidence to pre-sales investors, and you can follow your token giveaways with a pre-sale launch.

Different Ways to Conduct Airdrop

There are numerous methods for conducting airdrops.

The most common method is to include an airdrop provision in the token contract. You would set aside a fixed number of tokens to be distributed via airdrop directly from the contract. Apart from the fact that this is extremely inefficient due to the additional time required to code such a mechanic into the token smart contract, there are a few issues. To begin, you must market the airdrop link to ensure that investors see and claim the airdrops. Second, you'll need to invest additional time and effort in enabling airdrops via your website, as well as supporting multiple wallets - all of which can be quite time-consuming.

Another option - which is much easier and less time-consuming - is to use a reputable token airdrop platform. There are numerous such platforms; however, a newly launched token airdrop platform, VyprDrop, has eliminated all risks associated with airdrops for Binance Smart Chain (BSC). Unlike other platforms, it does not hold your tokens in custody; they remain in your wallet. After a user claims an airdrop, the tokens are transferred directly to the recipient. All necessary features, such as a cap on the number of tokens distributed, an airdrop start and end time, and wallet limits, are available. With an intuitive interface for managing the airdrop, VyprDrop has emerged as the preferred choice for token owners looking to airdrop their tokens. There are thousands of investors flocking to VyprDrop in search of the latest airdrop, which provides another reason for token owners to launch an airdrop through VyprDrop. VyprDrop is a product of Vypr Network, which has also developed other tools for BSC developers.

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