Arbitrum.foundation Airdrop Review 2023: Good Or Bad Airdrop Read Our Review

What Is Crypto Airdrop?

A crypto airdrop is a marketing strategy used by cryptocurrency companies to distribute free tokens or coins to a specific group of people as a way of promoting their project. The tokens or coins are usually distributed through various means, such as social media campaigns, online forums, or directly to wallets of existing cryptocurrency holders.

The aim of a crypto airdrop is to attract new users to a project and increase its visibility within the crypto community. Participants in the airdrop are often required to complete certain tasks, such as following the project’s social media accounts or inviting friends to join, to receive the free tokens or coins.

While crypto airdrops can be a fun way for users to try out new projects and potentially earn some free tokens or coins, it’s important to exercise caution and thoroughly research any project before participating in an airdrop. Some airdrops may be scams or have other hidden risks associated with them.

What Is Arbitrum.foundation Airdrop?

Arbitrum is an Ethereum Layer 2 blockchain, built using optimistic rollup technology. Arbitrum aims to scale Ethereum, allowing users to avoid the high transaction fees that Ethereum is notorious for, while leveraging on the security of Ethereum’s battle-tested network. Arbitrum has been extremely successful in garnering traction, with the total value locked (TVL) on the chain almost doubling since the lows resulting from the FTX collapse. A large part of this move was driven by the popular perpetuals decentralized exchange (DEX), GMX, which currently holds more than 35% of TVL on Arbitrum. But the other significant driver for Arbitrum’s rapid ascent was the speculation around an airdrop of its token.

Basic Arbitrum.foundation Airdrop Points

How To Claim Arbitrum.foundation Airdrop Step-by-Step Guide:

1. Visit the Arbitrum airdrop claim page.
2. Connect your wallet.
3. Now click on “Check Eligibility”.
4. If you’re eligible then click on “Start claiming”.
5. Now select a delegator or delegate it to yourself to claim the tokens.
6. Multiple qualifying actions were taken into account to determine the eligibility of a user. Some are:
   • Bridged funds into Arbitrum One
   • Conducted transactions during two distinct months
   • Completed more than 4 transactions or interacted with more than 4 different smart contracts
   • Completed transactions exceeding in the aggregate $10,000 in value
   • Deposited more than $50,000 of liquidity into Arbitrum
   • Bridged funds into Arbitrum Nova
   • Completed more than three transactions on Arbitrum Nova
7. Check the below article to see the detailed eligibility criteria.
8. The snapshot of eligible users was taken on  February 6th, 2023 at block height #58642080.
9. There’s no need to rush because eligible users have 6 months to claim their tokens.
10.  ARB is now tradable on major exchanges like Binance, KuCoin, Uniswap, OKX,  Huobi and Wazirx.
11. A points system was used to determine the number of tokens a user can claim with the maximum being 10,200 ARB per wallet.
12. There will also be future airdrops for users who continue to use the Arbitrum ecosystem similar to the Optimsm airdrop. So continue using dApps built on Arbitrum like Vela Exchange and GMX to receive future airdrops.
13. For more information regarding the airdrop, see this page and this Medium article.

How To Check Arbitrum.foundation Airdrop Is Real Or Fake

It’s essential to exercise caution and thoroughly research any airdrop before participating in it to ensure that it is legitimate and not a scam. Here are some steps you can take to check if an Arbitrum.foundation airdrop is real or fake:

1. Check the official website: Verify that the airdrop is being conducted by the official Arbitrum.foundation team by visiting their official website. Check if they have announced any airdrop or any details about it. You can also check if the website is secure by looking for “https” in the URL and a lock icon in the address bar.
2. Check official social media channels: Check the official social media channels of Arbitrum.foundation for any announcements related to the airdrop. You can also verify the authenticity of the social media accounts by checking for a blue verified badge.
3. Research the team and advisors: Research the team and advisors associated with the project to ensure that they are real people with a reputable background. Check their LinkedIn profiles or other professional profiles.
4. Beware of scams: Be wary of scams that ask you to send ETH or other cryptocurrencies to participate in the airdrop. Legitimate airdrops will never ask you to send any cryptocurrency or personal information.
5. Use trusted sources: Only participate in airdrops that are promoted through reputable and verified sources, such as major cryptocurrency news websites or established social media influencers.

What are the risks of participating in an airdrop?

One of the most significant risks of participating in an airdrop is the potential for scams. Scammers may create fake airdrops to trick people into giving away their private keys or other sensitive information. This can result in the loss of funds or even identity theft. Some airdrops may require you to hold a specific amount of a particular cryptocurrency in your wallet to be eligible for the free tokens or coins. If the project turns out to be a scam or fails, you could end up losing the funds you invested.

The tokens or coins you receive from an airdrop may have limited liquidity, which means it may be challenging to sell them for a reasonable price. This can make it difficult to realize any potential gains from the airdrop. Airdrops are often used by new or relatively unknown projects to gain attention and promote their platform. While some of these projects may turn out to be successful, others may fail, resulting in the loss of funds for investors.

Arbitrum.foundation Airdrop Pros Or Cons

Pros of participating in an airdrop:

1. Free tokens or coins: Airdrops provide an opportunity to receive free tokens or coins from a project that may have future value.
2. Access to new projects: Airdrops may give you early access to new projects, allowing you to learn more about them and potentially invest in them.
3. Potential for profits: If the project succeeds and the tokens or coins increase in value, you could potentially make a profit by participating in the airdrop.

Cons of participating in an airdrop:

1. Scams: As mentioned earlier, airdrops may be used by scammers to trick people into giving away their private keys or other sensitive information, resulting in the loss of funds.
2. Low liquidity: Tokens or coins received from an airdrop may have low liquidity, making it difficult to sell them for a reasonable price.
3. Unknown projects: Participating in an airdrop from a relatively unknown project may be risky, as the project may turn out to be unsuccessful or fraudulent.
4. Regulatory risks: There may be regulatory risks associated with participating in an airdrop, as some countries may have strict regulations around cryptocurrency.

Arbitrum.foundation Airdrop Final Verdicts

It’s important to always exercise caution and thoroughly research any airdrop before participating to ensure that it is legitimate and not a scam. Additionally, it’s important to understand the potential risks and benefits of participating in an airdrop before deciding whether or not to participate.

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