Airdrops

Token airdrops are a popular method in the blockchain ecosystem for distributing tokens to users, promoting projects, and incentivizing community engagement. In the Avalanche network, airdrops can help bootstrap new projects, reward loyal participants, and increase the distribution of tokens to a wider audience.

Understanding Airdrops

Airdrops involve sending tokens directly to users' wallets, typically for free or in exchange for simple tasks like participating in network activities, holding a specific token, or interacting with a smart contract. They serve multiple purposes:

• Marketing and Promotion: Raise awareness about a new project or token.
• User Acquisition: Attract new users to a platform or service.
• Community Rewards: Reward loyal users and early adopters.
• Decentralization: Distribute tokens widely to enhance network decentralization.

Core Wallet's Airdrop Tool

Core, Avalanche's native ecosystem wallet and portfolio, has integrated a new promotions and airdrop tool developed by Ava Labs. This tool leverages on-chain data sources for seamless token distribution, allowing any builder to strategically reward their loyal community members.

Key Features

• On-Chain Data Integration: Utilizes indexed on-chain data to identify and reward true users based on their interactions with contracts.
• User-Friendly Interface: Provides a straightforward, free method to use on-chain data for airdrops and promotions.
• Custom Queries: Allows builders to locate community members who have interacted with their contracts using the query builder.
• Manual Address Addition: Enables manual addition or upload of addresses for token distribution.

How It Works

Ava Labs indexes on-chain data, enabling Core's airdrop tool to quickly analyze contract-level activity. Daily aggregation of C-Chain token balances is conducted at the close of each day (UTC time), collecting balances of native tokens, ERC20, and ERC721 tokens. Users can leverage this data to pinpoint addresses that meet specific criteria based on token activity.

At launch, the tool supports Avalanche C-Chain and a subset of ERC20 tokens, with more tokens to be added in the future.

Query Builder

• Filter Options: Filter based on holding duration, current holdings, minimum holding duration, or customized date ranges.
• Multiple Queries: Conduct multiple queries in a single search to refine the target audience.

Airdrop Distribution

Airdrops are distributed through contracts deployed on-chain. Core's airdrop tool leverages a deployed version of ThirdWeb's audited Airdrop contract and Ava Labs’ internal security team. At launch, airdrops will be distributed evenly among all selected wallets.

Benefits of Using Core's Airdrop Tool

• Efficient Distribution: Streamlines token distribution and community engagement with its intuitive interface.
• Cost-Free: Provides a free method for builders to conduct airdrops and promotions.
• Strategic Rewards: Allows for targeted airdrops based on specific on-chain activities.
• Security: Utilizes audited contracts and security measures to protect token distributions.

Real-World Example: Core Memecoin Month

To showcase the power of the new airdrop tool, Core rewarded all participants from their Core Memecoin Month, which ran from April 1 to May 6. Participants received an evenly distributed reward in the same memecoin they used during the event. For example, if a participant qualified by following instructions during COQ’s memecoin week, they were airdropped COQ coins.

Considerations

• Regulatory Compliance: Ensure that airdrops comply with relevant laws and regulations in your jurisdiction.
• User Privacy: Be mindful of user privacy and data protection when handling wallet addresses.
• Security Best Practices: Utilize audited contracts and follow security best practices to protect against vulnerabilities.

Conclusion

Airdrops are a valuable tool for projects in the Avalanche ecosystem to engage with their community, distribute tokens, and promote network growth. Core's new airdrop tool simplifies this process by leveraging on-chain data and providing an intuitive interface for builders and developers.

By utilizing Core's airdrop service, projects can efficiently and securely reward their loyal community members, fostering stronger relationships and encouraging active participation in the Avalanche network.