HMX Airdrop Review 2023: Good Or Bad Airdrop Read Our Review

What Is Crypto Airdrop?

The distribution of free cryptocurrency tokens or coins to numerous wallet addresses within the cryptocurrency ecosystem is known as a crypto airdrop. In essence, blockchain projects and cryptocurrency firms utilize it as a marketing tactic to advertise their token, boost adoption, and draw in new users and investors.

Sending a predefined number of these tokens to the wallets of chosen users or the whole user base of a specific blockchain platform constitutes the airdropping of tokens. Participants in airdrops must achieve particular requirements or carry out specified actions in order to be eligible to receive the free tokens, which are frequently stated in advance.

These can be things like signing up for a newsletter, joining a Telegram group, following accounts on social media, or keeping a certain quantity of a particular cryptocurrency in their wallet. Airdrops are thought of as a technique to fairly distribute tokens and build a user base and community around a new cryptocurrency project.

What Is HMX Airdrop?

HMX Airdrop is a premier decentralized perpetual exchange with a cross-margin and multi-asset collateral support on Arbitrum. HMX prides itself for being the first pool-based decentralized perpetual exchange that offers multi-asset collateral and cross-margin support. Their aim is to create a product that addresses the biggest pain points while also offering the best user experience.

HMX Airdrop will be airdropping a total of 50,000 HMX tokens to early users of the platform. Public open beta participants, Zealy quests participants and early users of Perp88 before their rebranding to HMX will be eligible to receive esHMX tokens. esHMX’s holders can vest their esHMX tokens to receive HMX. esHMX vests linearly and will take one year to fully convert to HMX tokens.

Basic HMX Airdrop Points

How To Claim HMX Airdrop Step-by-Step Guide:

1. Visit the HMX website.
2. Connect your Arbitrum wallet.
3. Now make trades on the platform:
   • Open a leveraged trading position on any Cryptocurrency market
   • Open a leveraged trading position on any Equity market
   • Open a leveraged trading position on any FX market
   • Open a leveraged trading position on any Commodity market
   • Make a deposit into the HLP vault
4. The more tasks you complete, the larger share of the airdrop you will receive.
5. Also complete Zealy tasks.
6. You will receive esHMX tokens if you are either a public open beta participant, Zealy quest participant, or early user of Perp88 (before their rebranding to HMX).
7. All eligible users will get esHMX (escrowed HMX) tokens one month after Phase 4: Full-Scale Launch of HMX.
8. esHMX’s holders can vest their esHMX tokens to receive HMX. esHMX vests linearly and will take one year to fully convert to HMX tokens.
9. For more information regarding the airdrop, see this page.

How To Check HMX Airdrop Is Real Or Fake

Checking the legitimacy of a crypto airdrop can be a bit tricky, as scammers often use sophisticated techniques to create fraudulent airdrop campaigns that appear to be legitimate. Here are some steps you can take to verify the authenticity of a crypto airdrop:

1. Research the project: Start by doing some study about the airdrop’s project. Find out as much as you can about the cryptocurrency and its developers. To obtain pertinent information, look at the project’s website, whitepaper, social media platforms, and community forums.
2. Check Social Media Accounts: In the event that the airdrop is advertised on social media, make sure you are following the project’s official accounts. To verify an account’s legitimacy, search for badges or checkmarks that indicate authentication.
3. Be Wary of Private Messages: Steer clear of airdrops advertised through unsolicited private messages, especially ones that want wallet addresses or personal information. Airdrops from reputable projects are often announced openly, and they don’t require your personal information up front.
4. Cross-check Information: If numerous sources corroborate the airdrop, it is more likely to be real. Cross-check the information on other platforms and forums.
5. Examine the Community of the Project: Trustworthy projects typically have a vibrant and engaged community. Join their official channels (Telegram, Discord, Reddit, etc.) and check to see if the airdrop is being discussed.
6. In summary, it’s important to conduct thorough research, verify the source and instructions, look for feedback from other users, and trust your instincts when evaluating the legitimacy of a crypto airdrop. By taking these steps, you can minimize the risk of falling for a fraudulent airdrop and protect your assets and personal information.

What are the risks of participating in an airdrop?

There are hazards associated with taking part in an airdrop, particularly in the world of cryptocurrencies. A token or cryptocurrency is given away for free to a group of people through an airdrop, which is typically done to support a project, grow its user base, or thank current users. While airdrops can be an exciting way to receive free tokens and potentially profit from them, it’s essential to be aware of the associated risks

Scammers may use airdrops as a ploy to trick gullible people into disclosing private keys or sensitive information, which could result in theft or other fraudulent activities. Always verify the authenticity of the airdrop and the organization behind it before participating.

HMX Airdrop Roadmap

Q2′ 2023:

• HMX Security Audit: Reviews from third-party auditors to minimize potential vulnerabilities in the smart contract.
• Beta Launch of HMX: Beta launch of HMX, creating a superior trading experience for DeFi users with many new features, more asset classes, and additional safety measures.

Q3 — Q4′ 2023:

• Full-scale Launch: Read the details of our launch plan here
• Launch of Governance Tokens: Launch $HMX tokens, which will function as a governance token for HMX.
• Listing on Key Data Sites: List HMX on key data aggregators website -e.g., DefiLlama — for better discovery by the community
• Cross-chain Expansion: Expand HMX to other chains to grow the ecosystem. Other up and coming L2 chains such as zkSync and Starknet, etc. are our priorities.
• Grow HMX Userbase and Community: Grow HMX through various marketing campaign and initiatives – AMAs, paid marketing, trading competitions, etc.
• Listing additional markets: Expand the selection of assets users can trade on HMX.
• Bug Bounty Program: Set up a formal bug bounty program to incentivize the Whitehat community to help secure the protocol.
• Info & Analytics Page: Track key usage statistics for HMX.
• Governance: Implement governance to allow $HMX token holders to help make key decisions on the protocol and set the direction for HMX.
• Additional utilities for HMX: Explore adding additional utilities for the $HMX token

Q1′ 2024:

• Infinity and beyond: HMX team will remain nimble and resilient in making adjustments to the roadmap to ensure HMX can respond to the dynamic market environment and capture any new potential opportunity for growth. Please note that this roadmap is subjected to change.

HMX Airdrop Pros Or Cons

Pros of participating in an airdrop:

1. Free tokens: Airdrops can provide a way for users to obtain free tokens or coins from a project without having to invest any money.
2. Low risk: Airdrops generally do not require any financial investment, making them a low-risk way to try out a new project or cryptocurrency.
3. Community building: Airdrops can help build a project’s community and increase its visibility by incentivizing users to promote it to their networks.

Cons of participating in an airdrop:

1. Scams: Airdrops can be used as a tool for scams and fraudulent schemes aimed at stealing personal information or assets from unsuspecting users.
2. Limited token distribution: Airdrops often have limited token distribution, meaning that only a small number of participants may receive tokens, while others may be left empty-handed.
3. Token value: The tokens received in an airdrop may not have any real value or may lose value quickly, making them a poor investment choice.

HMX Airdrop Final Verdicts

HMX (prev. Perp88) is a decentralized perpetual exchange that employs a cross-margin and multi-asset collateral management model, offering up to 1000x leverage on four asset classes. Market makers can maximize capital efficiency and generate real yields through liquidity rehypothecation.

FAQ