AirDrops are rewards that people in the crypto world usually receive from different platforms, which is generally a promotional action to increase transactions in that network. It is costly but worth it. Many reputable coins and tokens, which today are in the top 100 rankings someday at the beginning, airdropped their tokens or Coins for their market participants.
The HopProtocol provides a scalable token bridge for Ethereum’s layer-2 ecosystem using a two-pronged approach:
- Create a particular intermediary asset called an hToken (e.g., hETH, hDAI, etc.) that can move quickly from a network to the next one!
- Use Automated Market Makers (AMMs) to swap between the hTokens and their corresponding assets on each layer-2 network.
The result allows users to seamlessly transfer tokens from one network to the next.
Optimism and Kwenta Airdrop
Optimistic Ethereum is a rollup scaling solution that allows users to submit transactions on the Ethereum network and execute them faster for a much lower gas fee.
Other projects on this network do Airdrop, like Kwenta or Optimism; other projects can airdrop on this network like Kwenta. To get Airdrop is better to go through HopProtocol and transfer some Ethereum to optimism network and on Uniswap convert to some token like SNX.
Market participants who are interested in getting Airdrop (Reward) need to stake (Keep a specific amount of a particular Token or Coin for a particular period) some SNXTo receive Kwenta Airdrop.
How to trade on HopProtocol
To perform a transaction on HopProtocol, first, log in to the site and follow the steps below:
- Connect your wallet.
- Identify the property you want to transfer (I suggest ETH to you.)
- Choose the source network (I will transfer from the polygon for myself.)
- Select the destination network (Ethereuem or Optimism).
- Click on the approve option and then confirm the transaction.
- Click on send and confirm the transaction.
How to Stake SNX
- First, connect your wallet as shown.
- Click on the mint max option and wait for the site to open for you.
- Then click the mint sUSD option and confirm the transaction.
Security Concerns of Airdrops
AirDrop fever is very high these days, especially after ENS AirDrop. That is why many people are eager to get FOMO to participate in AirDrop. Security is an essential part of our presence that preserves our funds as always in the virtual world.
In one sentence, AirDrop is a gift that is paid to users to introduce and view tokens. AirDrop means the free distribution of cryptocurrency tokens or coins as a reward.
To investigate that how people can securely participate in Airdrop events!
Airdrops are free, and there is no need to transfer any money unless you must pay for the network Gas Fee to receive or claim their promised amount of the Airdrop. In that way, it’s time to make sure how worthy those tokens are, the probable security risks, and the site’s validity that has informed audiences for receiving tokens.
1) The links are supposed to be original. Airdrops aren’t allowed to ask for your wallet’s private words and If they do so, leave it immediately and if you feel like reporting it, do it on the related platforms. Airdrop needs your public addressee key.
2) To take part in airdrops, you should use the wallet that has a little inventory, not your main wallet, and to do that, open a new tab in your application or your crypto wallet and create a new address easily.
3) You should know that some airdrops don’t accept wallets with no transaction, so at least make one. You may ask why that is so important; many airdrops are scams, and they would use your main wallet for fishing or physical threats.
4) You don’t want to publicize the address with many coins and tokens. Be cautious about participating in airdrops that ask you to put your email address or social media IDs and use the other email address that you own for airdrops. Note that if your social media aren’t activated, it may identify you as spam and eliminate your Airdrop.
5) Be careful about the airdrops that need you to install an unknown and new crypto wallet; make sure it is reliable because there is the possibility of hacking your information even in android devices that have less control on application installing.
6) Also, some airdrops may ask you to register on websites and new networks; check thoroughly and carefully because most of them are for referral attraction for that platform, and it is most likely that they are scammers!
7) Check all steps to be clear in social media of the airdrop project; the site must be in the proper order and contain airdrop process information and all the steps thoroughly.
8) If you found yourself interested in participating in the upcoming airdrops of different platforms, consider the risk to reward and the cost-to-capital ratio you have and notice the network Gas Fee (Transaction Fee) in the market participant must pay. Because it’s possible for the platform to maybe not Airdrop, or even if it does, it might not be valuable.
Receiving airdrops always is pleasant, and they could be valuable. Still, according to the points mentioned above, people must consider all the risks of those rewards.