Digital currencies like Bitcoin, Ethereum, and Shiba Inu have changed the way people perceive financial transactions and investments. Blockchain technology serves as both the underlying technology for crypto creation but also as an innovative tool to develop marketing strategies. Crypto airdrop is an example of how blockchain technology enables project developers to reach their public in a unique way. When using this strategy, project developers distribute free coins or tokens to a number of wallets, according to some specified conditions. Crypto developers rely on airdrop news to generate buzz in the sector and attract new users to a new project or token, but also to reward loyal crypto users.
When a project gives away tokens it usually increases its user base and enhances its visibility on the market quickly.
What Is A Crypto Airdrop?
As mentioned above, a crypto airdrop is a marketing strategy used to enhance the visibility of blockchain projects through distributing free tokens to a group of users. It aims to increase the awareness level of the cryptocurrency and encourage a broader adoption of the token.
Crypto airdrops have several roles:
- They enable new projects to gain traction in the market by reaching a broader public
- They reward loyal crypto users
- They create a sense of engagement and community
The participants receive free tokens which they can trade or hold in the long run, to boost their gains.
How Do Crypto Airdrops Work?
Crypto airdrops have a well-established structure with key steps:
- Announcement: the project announces that it plans a crypto airdrop through its official channels (website, social media pages, crypto forums, email newsletters, and other similar ones) and lists the eligibility criteria.
- Registration: the users who want to take part in the airdrop register in the program by providing their wallet address and other required information.
- Verification: the project verifies the users registered for the airdrop to make sure they meet the eligibility criteria.
- Distribution: the project distributes the tokens to the eligible users through smart contracts. The entire process is held on the blockchain so it’s transparent and secure.
- Claiming tokens: in some instances, the users have to claim the tokens by following a set of instructions provided by the project developer.
The Most Famous Crypto Airdrops
Crypto airdrops are a popular method for blockchain projects to distribute tokens, reward early adopters, and foster community engagement, so several successful projects have used this technique in their early beginnings to draw the public’s attention. Below, we explore some of the most notable crypto airdrops in history.
Uniswap (UNI) – 2020
Uniswap, a leading decentralized exchange, conducted one of the most significant airdrops in September 2020.
The platform distributed 400 UNI tokens to every wallet that had interacted with it before September 1, 2020. At its all-time high (ATH) price of $42.88, this airdrop’s total value reached approximately $6.43 billion (source). This event not only rewarded early users but also set a precedent for future airdrops in the decentralized finance (DeFi) space.
Apecoin (APE) – 2022
Apecoin’s airdrop in March 2022 targeted holders of Yuga Labs ecosystem NFTs, such as the Bored Ape Yacht Club. Eligible recipients received up to 10,950 APE tokens, which were valued at $23.63 at their peak, making the airdrop’s total worth approximately $3.54 billion (source). This distribution strategy effectively rewarded the NFT community and strengthened the bond between token holders and the broader ecosystem.
dYdX (DYDX) – 2021
In September 2021, the decentralized derivatives exchange dYdX launched an airdrop for its governance token, DYDX. The airdrop’s total value was approximately $2.00 billion at its ATH price of $26.80 (source). The distribution was structured to incentivize continued engagement, with tokens unlocking incrementally over a five-year period.
Arbitrum (ARB) – 2023
Arbitrum, a Layer 2 scaling solution for Ethereum, conducted an airdrop in March 2023, distributing ARB tokens to early users and supporters. The airdrop’s total value reached approximately $1.97 billion at its peak price of $11.88 (source). This event highlighted the growing importance of Layer 2 solutions in enhancing blockchain scalability and user experience.
Ethereum Name Service (ENS) – 2021
The Ethereum Name Service (ENS) simplifies blockchain interactions by converting complex wallet addresses into human-readable names. In November 2021, ENS conducted an airdrop for its governance token, distributing tokens to users who had registered and maintained .eth domains. The airdrop’s total value reached approximately $1.88 billion at its ATH price (source). This event rewarded genuine platform engagement and emphasized the importance of decentralized domain naming systems.
Bonk (BONK) – 2022
Bonk emerged as Solana’s first dog-themed memecoin, aiming to unite the ecosystem’s fragmented communities. In December 2022, Bonk conducted an airdrop, distributing tokens to Solana NFT holders, developers, and artists. The airdrop’s total value reached approximately $1.33 billion at its ATH price (source). This inclusive distribution strategy helped bootstrap both liquidity and community engagement simultaneously.
Shibarium (SHIB) Airdrop – March 2025
In March 2025, the Shiba Inu ecosystem expanded its decentralized finance ambitions by launching an airdrop through Shibarium, its Layer 2 scaling solution.
This airdrop aimed to reward early adopters of Shibarium’s DeFi services, including liquidity providers and users who had engaged with Shibarium-based dApps. By distributing SHIB and BONE tokens, the project sought to incentivize activity within the ecosystem and promote adoption of its low-cost, high-speed transactions.
How To Pick The Right Crypto Airdrop For You?
Once you learn how they work, it’s easy to take advantage of crypto airdrops. However, there are a couple of things you should be aware of:
- The project’s long-term value – don’t register for the first crypto airdrop you come upon, research to ensure it’s a quality project you take part in.
- Token distribution – the projects with a larger community distribution have more successful airdrops.
- Scams – stay away from scams and register only with airdrops announced on official airdrop platforms or the project’s official website.
Parting Words
Crypto airdrops can be a great opportunity to earn free tokens and explore new blockchain projects. However, always do your research to avoid scams and ensure you’re supporting projects with real potential.
