What Is Airdrop Cryptocurrency?

What Is Airdrop Cryptocurrency?

Paul Gordon

What is airdrop in crypto world?

A​ ​crypto airdrop​ ​is​ ​when​ ​a​ ​blockchain project distributes​s free​ ​tokens or​ ​coins. Two types of airdrops could be identified: 1 - as amazement and 2 - announced in advanced. Blockchain based startups regularly prefer advanced announcements to achieve gossip going. As the target is typically to bootstrap the project, the airdrop practice implicates the achievement of a number of tasks by the customer in order to be eligible for the airdrop.

Why startups carry an Airdrop?

As a Reward for Loyal Customers

This type of airdrop equals to the vouchers giveaways of non-blockchain companies in the typical commercial world. Sometimes blockchain based services wish to reward users. Airdrops can be used as a method of rewarding faithful users with free cryptocurrency tokens. This act as an encouragement for continues using platforms.

To Generate Lead Database

Promotion is to generate leads. Organizations pay attention to make proper leads that will push their marketing campaigns and increase investments. Airdrops can be used by blockchain based businesses to create valuable leads databases for their organizations. In return for free cryptocurrency tokens, users’ needs to complete online forms that contain valuable information about user which can be used to develop targeted marketing tactics.

To Create Awareness About a New Cryptocurrency

The marketing promotion on social media of airdrop lead to increased awareness being paid to a new cryptocurrency. Word of mouth advertising and other forms of organic commitments brought about by an approaching cryptocurrency airdrop can lead to bigger user participation in the cryptocurrency.

What Is Airdrop mechanism in project Redenom

Team Redenom went further and embodied the idea of ​​Airdrop as a key mechanism for the formation of crypto-economics. In the Redenom project, the value of the NOM token as an economic unit is not formed from its original value, as in the case of the classical ICO, but in the process of its circulation. All users of the system receive NOM tokens for free for a certain action in the system. Emission is carried out in the process of such actions. Accordingly, the economy of the Redenom project depends on the number of participants in the system and on their actions. The project provides a mechanism aimed at ensuring the promotion of active users through the process of the Redenomination. The system itself is a DAO system in which each participant can request funding from the Redenom DAO Fund on conditions of blockchain quadratic voting of other participants. Thus, the site aim is financing start-ups.  

How to get free crypto tokens NOM

Each registered user has the opportunity to receive 0,555666xx (random) NOM for phone validation and One NOM for passing the KYC procedure. Also, each participant can receive an additional amount of NOM, for generating benefit to the project. Tokens will circulate on the leading crypto-exchanges and exchangers so the NOM tokens can be purchased on free crypto market.