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

What Is Crypto Airdrop?

A crypto airdrop is a marketing strategy within the cryptocurrency space where blockchain projects distribute free tokens or coins to a predetermined group of wallet addresses. This distribution is typically done as a way to promote awareness, generate interest, and attract new users to the project.

Airdrops can take various forms, such as surprise distributions to existing holders of a specific cryptocurrency, targeted distributions to participants in a particular community or social media platform, or even open airdrops where anyone meeting certain criteria can participate.

The goal is often to create a broader user base, increase liquidity, and foster community engagement. Participants in a crypto airdrop usually need to meet specific requirements, such as holding a minimum amount of a particular cryptocurrency, following the project on social media, or completing other tasks outlined by the project team.

What Is MetaStreet Airdrop?

MetaStreet Airdrop is a yield infrastructure protocol. It structures sources of high yield into a tradable asset. Structuring is enabled through MetaStreet’s v2: The Automatic Tranche Maker (“ATM”), a permissionless lending protocol that automatically organizes capital in a pool based on depositors’ risk and return (rate) profiles.

MetaStreet Airdrop has raised $25M in funding from various investors and has launched the ASCEND campaign. Users who sign up and deposit wstETH will start earning XPs. Provide liquidity to the Wrapped Cryptopunks/wstETH pool to earn more XPs. Also, earn more XPs for each referral. They don’t have their own token yet but users who collect XPs may get an airdrop if they launch their won’t token.

Basic MetaStreet Airdrop Points

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

1. Visit the MetaStreet Ascend campaign page.
2. Connect your wallet.
3. Follow them on Twitter and join their Discord channel.
4. You will need some ETH first. You can get it on Binance.
5. Now, you will need to convert ETH to wstETH.
6. wstETH is Lido’s wrapped version of stETH. You can get wstETH by staking ETH on Lido and then using the “Wrap” function to convert stETH to wstETH.
7. Alternatively, you can swap ETH for wstETH on Uniswap.
8. Go back to MetaStreet and deposit wstETH.
9. You will get XPs for depositing.
10. You will get 1,000 XPs for every wstETH deposited.
11. Provide liquidity to the Wrapped Cryptopunks/wstETH pool to earn more XPs.
12. Also, earn more XPs for each referral.
13. They don’t have their own token yet but are very likely to launch one in the future.
14. Users who collect XPs will likely get an airdrop if their token goes live.
15. For more information regarding the ASCEND campaign, read this Medium article.

How To Check MetaStreet 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 Website and Announcements: Check the official website of MetaStreet for any announcements regarding the airdrop. Legitimate projects often provide information about ongoing or upcoming airdrops on their official platforms.
2. Social Media Channels: Verify the information on MetaStreet’s official social media channels, such as Twitter, Telegram, or Discord. Legitimate projects usually make official announcements and updates on these platforms.
3. Whitepaper and Project Details: Review the project’s whitepaper and other relevant documents. Ensure that the airdrop details align with the project’s overall goals and objectives.
4. Community Feedback: Look for feedback from the cryptocurrency community. Check forums like Bitcointalk, Reddit, or other crypto-related communities to see if there are discussions or warnings about the legitimacy of the MetaStreet airdrop.
5. Contact the Project Team: Reach out to the official project team through their official communication channels to verify the airdrop. Legitimate projects are usually transparent and responsive to community inquiries.
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?

Participating in a cryptocurrency airdrop carries certain risks that individuals should be aware of before getting involved. One significant risk is the potential for scams and fraudulent activities. Malicious actors may create fake airdrops to lure participants into providing sensitive information, such as private keys or personal details, which can lead to unauthorized access to their cryptocurrency holdings.

Additionally, participants might encounter phishing attempts, where fraudulent websites or communication channels imitate legitimate projects to deceive users. Another risk involves the volatility of the cryptocurrency market, as airdropped tokens may experience sudden price fluctuations. Participants should carefully assess the legitimacy of the airdrop by verifying information from official sources and exercising caution when providing any personal information. It is essential to be mindful of potential risks and thoroughly research airdrop opportunities before engaging in them to protect one’s assets and privacy.

MetaStreet Airdrop Pros Or Cons

Pros of participating in an airdrop:

1. Innovative Yield Infrastructure: MetaStreet introduces an innovative yield infrastructure protocol that structures high-yield sources into a tradable asset. This approach provides users with a unique way to access and trade high-yield opportunities in the cryptocurrency space.
2. Automatic Tranche Maker (ATM): The Automatic Tranche Maker is a permissionless lending protocol that facilitates the automatic organization of capital in a pool based on depositors’ risk and return profiles. This automation can enhance efficiency and transparency in the lending process.
3. Funding and Investor Confidence: MetaStreet’s successful fundraising of $25 million from various investors indicates a level of confidence in the project’s vision and potential. Adequate funding can contribute to the development and sustainability of the platform.

Cons of participating in an airdrop:

1. Lack of Native Token: MetaStreet does not currently have its own native token, which may limit the immediate benefits for users looking for direct token rewards or governance participation within the platform.
2. Dependence on Campaign Incentives: The reliance on campaigns, such as the ASCEND campaign, for user engagement may lead to concerns about the sustainability of the user base once the campaign concludes. Users attracted by incentives may not necessarily stay engaged without ongoing rewards.
3. Uncertainty Surrounding Airdrop: The promise of a potential airdrop for users collecting XPs lacks specific details, creating uncertainty about the nature and value of any future token rewards. Users may be cautious about participating without clear information on the airdrop.

MetaStreet Airdrop Final Verdicts

In conclusion, MetaStreet presents an intriguing venture as a yield infrastructure protocol, aiming to transform high-yield sources into a tradable asset. The protocol’s backbone, the Automatic Tranche Maker (ATM), operates as a permissionless lending mechanism, automatically structuring capital in pools based on the risk and return profiles of depositors. The successful fundraising of $25 million from diverse investors underscores a level of confidence in MetaStreet’s vision.

The launch of the ASCEND campaign further adds to the platform’s appeal, offering users the opportunity to earn XPs by signing up, depositing wstETH, providing liquidity to specific pools, and referring others. However, the absence of MetaStreet’s native token at present may impact the immediate benefits for users seeking direct token rewards or governance participation.

While the promise of a potential airdrop for users collecting XPs adds an interesting incentive, the lack of specific details about the airdrop may introduce an element of uncertainty. Participants should be mindful of the market’s volatility, as the value of earned XPs may be subject to fluctuations.

In essence, MetaStreet’s unique approach to yield structuring, coupled with its successful fundraising and incentive-laden campaigns, positions it as a noteworthy project in the cryptocurrency space. As the platform evolves, users will likely be keenly observing developments, especially regarding the potential introduction of a native token and the clarity surrounding any future airdrop.

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