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

What Is Crypto Airdrop?

A crypto airdrop is a marketing technique used by blockchain and cryptocurrency initiatives to offer free tokens or coins to a particular demographic of cryptocurrency owners or the larger crypto community. Usually, these distributions are carried out in an effort to promote a new coin, platform, or project.

There are many different types of airdrops, including as those where tokens are distributed to cryptocurrency holders at a given block height or those that demand participants to carry out particular actions like subscribing to social media accounts, joining a Telegram group, or taking part in a token auction.

Engaging potential users and investors, generating a network effect, and promoting interest in and acceptance of the blockchain project are the objectives. Although airdrops are frequently thought of as a way to thank early backers and foster a sense of community, they can also contain speculative and marketing-focused elements.

What Is Instadapp Airdrop?

Instadapp Airdrop The complete feature platform Instadapp allows both consumers and developers to fully utilize DeFi. The middleware that combines many DeFi protocols into a single layer of upgradeable smart contracts is the Instadapp protocol (also known as “DSL”). Instadapp is able to take advantage of Decentralized Finance’s full potential thanks to this framework.

Instadapp Airdrop total of 11,000,000 INST will be airdropped by Instadapp to Maker, Compound, and Aave users on the mainnet as well as to Aave users on Polygon. Users of the mainnet were captured in a snapshot at block #12644000, while users of Polygon were captured in a snapshot at block #15773000. A user’s position’s net worth will be used to determine if they are eligible to claim free INST.

Basic Instadapp Airdrop Points

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

1. Visit the Instadapp airdrop claim page.
2. Connect your ETH wallet.
3. If you’re eligible, then you will be able to claim free INST tokens.
4. Users who were managing DeFi positions on Maker, Compound or Aave on mainnet and Aave positions on Polygon are eligible to claim the airdrop.
5. The snapshot of mainnet users was taken at block number #12644000 and the snapshot of Polygon users was taken at block number #15773000.
6. The number of tokens a user receives will depend on the net value of the user’s position.
7. The rewards can only be claimed if you upgrade your account to DSA v2 on Instadapp.
8. Users who were managing their positions directly on Maker, Compound or Aave need to create an Instadapp DSA account and import their positions to claim the airdrop.
9. Users who were managing their positions through Instadapp will have their net value counted double while calculating the distribution chart.
10. For more information regarding the airdrop, see this post.

How To Check Instadapp 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. Official Announcement: Start by looking at Instadapp’s official communication platforms, which include their website, official blog, and social media accounts (Twitter, Medium, Telegram, etc.). Keep an eye out for any formal statements made about the airdrop. These channels are frequently used to announce legitimate airdrops.
2. Documentation or Whitepapers: Examine any whitepapers, documents, or official material pertaining to the airdrop. Make sure the information in these documents corresponds to what you have learned about the airdrop.
3. Contact Instadapp: Contact Instadapp to learn more about the airdrop by contacting them through their official support or community channels. Never use contact details that you receive via unsolicited emails or messages or from unidentified sources.
4. Check for Red Flags: Be wary of warning signs such demands for private keys, wallet addresses, or personal information. Normal practice for legitimate airdrops is not to request sensitive data.
5. Check the Source: Ensure that the data you have regarding the airdrop is from a reliable, recognized source. Scammers frequently pose as real initiatives to deceive users.
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?

While taking part in an airdrop can be alluring owing to the possibility of receiving free tokens or cryptocurrency, there are a number of inherent hazards that people should carefully examine. First off, airdrops might serve as a breeding ground for fraud and frauds.

False airdrop campaigns may be created by malicious actors to deceive users into donating money or personal information, potentially resulting in financial loss and identity theft.

Instadapp Airdrop Pros Or Cons

Pros of participating in an airdrop:

1. Aggregated DeFi Access: Instadapp functions as middleware to integrate many DeFi protocols into a single layer for smart contracts. Users’ DeFi experiences are made simpler by being able to access a variety of DeFi services and protocols from a single platform.
2. Adaptability: Because Instadapp’s smart contract layer is upgradeable, it can respond to advancements made in the DeFi ecosystem without requiring users to convert to new contracts. By doing this, consumers are guaranteed access to the most recent features and improvements.
3. Airdrops: Maker, Compound, and Aave users on the Ethereum mainnet, as well as Aave users on Polygon, can receive airdrops of Instadapp’s native token, INST. Users have the chance to earn free tokens through airdrops, which may be beneficial if the token increases in value.

Cons of participating in an airdrop:

1. Limited Token Support: Due to the airdrops’ primary focus on Maker, Compound, and Aave users, it’s possible that it will exclude users of other DeFi protocols. For people who use various DeFi platforms, this can be viewed as a limitation.
2. Dependence on Smart Contracts: Instadapp is dependent on smart contracts, which may have flaws or errors that pose a security risk. Users must use caution and make sure they are aware of the dangers of using smart contracts.
3. Market volatility: While airdrops can give users free tokens, their value can be very erratic, and there is no assurance that it will stay the same or rise over time. Users need to be aware of the dangers associated with keeping and selling these tokens.

Instadapp Airdrop Final Verdicts

Instadapp, which offers a full solution for both users and developers to capitalize on the limitless possibilities of the DeFi area, emerges as a strong and adaptable platform. Instadapp acts as the essential middleware that smoothly combines different DeFi technologies into a single, upgradeable smart contract layer through the use of its ground-breaking protocol, DSL. With the help of this architectural framework, Instadapp is able to fully utilize decentralized finance.

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