Web3 Industry Beginner's Guide: Start with Understanding Airdrops

In the Web3 industry, airdrops have always been the focus of attention for newcomers as a method of token distribution. Although the opportunities to gain huge profits through airdrops have decreased today, this distribution mechanism will continue to exist. For beginners who have just entered this field, participating in airdrops is not only a way to learn but also helps build cognition and methodology while experiencing different projects, along with the opportunity to earn some profits as positive motivation for learning.

To get started with Airdrop, you can approach it from three dimensions: cognition, methods, and tools:

1. Cognition: Understanding the industry and the way of thinking, which requires long-term accumulation to form one's own thinking model.

2. Method: Specific executable strategies can be broken down into different modules and capabilities to guide daily operations.

3. Tools: Various auxiliary tools used in daily life. Efficient tools can make work twice as effective with half the effort.

Building a Global Cognitive Model

Airdrop is the act of distributing tokens for free to community members or specific user groups by the project team during the token issuance. The main purposes of the project team conducting an airdrop are twofold: first, to cold start the project and attract user participation; second, to incentivize more people to engage in product development and create a positive cycle.

For users, the significance of participating in an Airdrop is:

1. Stay sharp on the market and grasp the direction of industry development.
2. Accumulate project analysis skills by participating in new projects.
3. Have the opportunity to earn certain profits while learning and making money.

When choosing Airdrop projects, two aspects need to be considered:

1. Choose tracks with a high ceiling, such as public chain projects, which usually have more potential than pure application projects.
2. Focus on leading projects, as each track usually has one or two main projects worth paying attention to.

Establishing a Systematic Methodology

Participating in an airdrop mainly requires developing two abilities: project analysis skills and fund management skills.

Project Analysis Capability

It is necessary to study and filter projects through a large amount of information. The key is to target leading projects, namely industry infrastructure and track leaders. Criteria for judgment include team background, financing situation, operating mechanism, technological innovation, product data, and user reputation, among others. Most importantly, it is essential to personally experience the product; only after accumulating enough experience can one form an intuitive judgment about new products.

Fund Management Ability

Including the following aspects:

1. Anti-Witch: Isolate funds through different wallet addresses to avoid related transactions.
2. Enrich on-chain data: multi-chain interaction, experience different products, stay active.
3. Improve capital utilization efficiency: Choose time periods with lower network fees for interactions.
4. Risk Management: Ensure fund segregation and treat early projects with caution.
5. Cost Control: Accurately assess costs and distinguish between detailed operations and superficial participation.

Build Your Personal Toolkit

Recommended Tools

• DeFi analysis tools: Used to view the leading DeFi applications across different public chain ecosystems.
• Project background analysis tool: Allows you to view the investment and financing status of each project.
• Asset management tools: One-stop management of assets with a wide coverage.
• On-chain data analysis tools: Provide various valuable data dashboards.

Task Platform

Some wallets and dedicated task platforms provide information about Airdrop-related events, which is a good channel to understand project dynamics.

Establish information channels

Follow some professional bloggers and sharers to gain more practical experience and project analysis.

Finally, it is recommended that newcomers first purchase a small amount of digital assets to personally experience decentralized applications. Only by actually participating can one have a genuine understanding of the industry. Participating in Web3 projects is like learning to swim; you can only truly master the skills by getting in the water.