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

What Is Crypto Airdrop?

To give away free tokens or cryptocurrencies to a large number of people, blockchain projects and cryptocurrency businesses frequently use a marketing approach called a crypto airdrop. The phrase “airdrop” comes from the conventional idea of an airdrop, in which supplies or goods are dispersed to a vast audience from the air.

In the world of cryptocurrencies, airdrops refer to the free distribution of a predetermined number of tokens or coins to qualifying participants’ wallets. These tokens are frequently recently developed digital assets or a component of an ongoing cryptocurrency project looking to expand visibility and user adoption.

A new cryptocurrency or blockchain project may benefit from airdrops to raise awareness and draw users, investors, and enthusiasts. By rewarding early adopters and engaged participants, airdrops can aid in creating and engaging a supportive community around a project.

What Is SubstanceX Airdrop?

SubstanceX aims to create a decentralized trading platform with a superior product experience surpassing that of centralized exchanges, leading the migration of user trading habits towards decentralization.

SubstanceX is airdropping a total of 1,200,000 SEX tokens to users who participate in their testnet campaign. Join their testnet campaign, complete the required tasks and submit your details to the gleam page to be eligible to receive free SEX tokens.

Basic SubstanceX Airdrop Points

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

1. Visit the SubstanceX testnet page.
2. Connect your Arbitrum Goerli wallet.
3. Click on the faucet at the top right corner of the website and claim test tokens.
4. Now go to your SubstanceX wallet and transfer testnet tokens from your wallet to the exchange wallet.
5. Click on “1ClickTrade” and enable 1 click trading. It eliminates the need for confirmation pop-ups during transactions.
6. Now go to “Options“and buy options.
7. Go to “Perpetual” and trade perpetual futures.
8. Go to”Earn” and buy SLP.
9. You will get energy points for doing the above actions. Do more actions to earn more energy points.
10. Submit your details to this gleam page and also complete the social tasks.
11. The top 35% of users with the most energy points will share 300,000 SEX tokens and the remaining 65% of the users will share another 300,000 SEX tokens.
12. A total of 200,000 SEX will be distributed each for three weeks to  top traders.
13. The rewards will be distributed within 14 working days after TGE, and the specific number of awards for each address will be published in a Twitter announcement at the end of the test activity.
14. For more information regarding the airdrop, see this Medium article.

How To Check SubstanceX 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. Verify the Official Announcement : Verify the Official Announcement by looking at the official website, the relevant social media sites, or any correspondence from the authorized SubstanceX project team. The majority of respectable projects will publicize their airdrops via official channels.
2. Cross-reference with Reliable Sources: Search popular cryptocurrency news websites, forums, and communities for information about the airdrop. It lends credibility to the airdrop’s authenticity if it is cited in reliable sources.
3. Review the project and team’s history: Look into the SubstanceX project’s crew. Check their reputation, experience, and credentials. Real initiatives frequently have a transparent team and verified data.
4. Avoid Strange Requests: Be wary of airdrops that ask you to disclose secret keys, passwords, or other sensitive information. Without requesting such information, airdrops normally deliver tokens to your wallet address.
5. Check the Token Contract Address: Before taking part in an airdrop, make sure you are aware of the token’s contract address. Verify that it corresponds to SubstanceX’s official token contract address. On the project’s website or through trustworthy token information resources like Etherscan for tokens based on Ethereum, you can access this information.
6. Beware of impersonators: In order to trick people, scammers frequently construct bogus websites, social media accounts, and communities. Make sure the sources from which you obtained the airdrop information are reliable.

What are the risks of participating in an airdrop?

Airdrops may serve as a front for fraud. In order to steal customers’ personal information or bitcoin holdings, con artists may pose as legitimate enterprises and persuade them to take part in phony airdrops. When you download software or offer sensitive information as part of an airdrop promotion, you may be vulnerable to malware or phishing attacks that expose your wallet or personal information.

Your email address and other personal information may need to be provided in order to participate in an airdrop, and this information may be used improperly or disclosed to other parties without your knowledge. In some circumstances, taking part in an airdrop may expose you to legal and regulatory dangers, particularly if the tokens being distributed are securities or involve illicit activity.

SubstanceX Airdrop Roadmap

Q1 2023:

• Complete development of testing demo
• Complete development of simple options and perpetual futures trading functions
• Launch demo on Ethereum Goerli & Arbitrum Goerli testnet
• Prepare for operation, material preparation, and community setup

Q2 2023:

• Complete development of beta version and launch on Arbitrum and Avalanche
• Integrate DEX-CRM and customer service system
• Deploy mainnet version on Arbitrum and Avalanche
• Establish core seed users and market user interest through activities such as testnets
• Achieve 5000 address interactions on testnet
• Cover 10,000 community users

Q3 2023:

• Improve trading products and test on ZK-Layer2
• Plan to integrate MPC wallet and implement Web2 login
• Integrate credit card OTC service
• Test on ZK-Layer2 such as Scroll
• Convert potential users into product users through mainnet activities such as trading rewards, referral commissions, etc.
• Achieve 10,000 users
• Cover 30,000 community users

Q4 2023:

• Introduce more trading products and develop Substance V2
• Expand oracle to support more trading products such as forex and stocks
• In Substance V2, support joint margin and use LP as margin, develop mobile-exclusive app, etc.
• Classify users and carry out precision user operations
• Achieve 100,000 users
• Cover 200,000 community users

Q1 2024:

• Complete development of V2 version, publicly test and launch
• Issue stablecoins and loans, bonds, etc. based on LP Token
• Achieve 400,000 users

Q2-Q3 2024:

• Build an independent settlement chain based on Layer3 and expand the usage of tokens
• Depending on the development progress of Arbitrum Nova, migrate settlement and price updates from off-chain to on-chain
• Support staking $SEX to become a Layer3 node, and $SEX will become the Gas Token of Substance Chain
• Achieve 1,000,000 users (70% WEB2 login users and 30% WEB3 login users)

SubstanceX Airdrop Pros Or Cons

Pros of participating in an airdrop:

1. Wider Distribution: Tokens can be distributed to more users through airdrops. This could improve a project’s decentralization and community involvement.
2. Marketing and Public Relations: Airdrops can be used as a public relations strategy to promote a new cryptocurrency or blockchain project.
3. User Engagement: Airdrops can encourage users to actively participate in the project’s ecosystem by holding tokens or carrying out particular tasks, for example.

Cons of participating in an airdrop:

1. Low Quality or Scams: Some airdrops could be linked to dubious or fraudulent operations, potentially resulting in the loss of user information or resources.
2. Token Dilution : Airdrops may reduce the value of tokens already held by early players or investors.
3. Regulatory Risks: There may be legal and regulatory repercussions for the initiative and the beneficiaries, depending on the country and the nature of the airdrop.

SubstanceX Airdrop Final Verdicts

Substance Exchange（SubstanceX） is a decentralized derivatives exchange committed to providing users with a centralized exchange-like user experience. Its features include providing more trading pairs and a more diverse derivatives section, implementing a combined margin pool design, and providing the industry’s best customer service to VIP clients through a mature CRM system.