A crypto airdrop is a strategic initiative by blockchain startups to distribute tokens, fostering awareness and engagement for their projects. These tokens are allocated to specific wallets based on existing holdings or network participation.
The Evolution of Crypto Airdrops
- 2021 marked the peak year, with 18 of the top 50 airdrops occurring then—a significant jump from just 5 in 2020.
- 2022–2023 saw a decline due to the crypto bear market, with 14 and 13 major airdrops respectively.
Below are the 10 most impactful airdrops in crypto history, ranked by distribution value:
1. Uniswap ($6.43 Billion)
Launch Date: September 16, 2020
Token: UNI
ATH Value: $42.88
Uniswap’s airdrop revitalized the DeFi Summer movement, distributing $6.43 billion in UNI tokens. This event reignited interest in the airdrop model, pioneered by Auroracoin in 2014.
2. Apecoin ($3.54 Billion)
Launch Date: March 17, 2022
Token: APE
ATH Value: $23.63
Yuga Labs rewarded ecosystem participants with up to 10,950 APE tokens (worth $258,737 at peak). Recipients could nearly cover the cost of a Bored Ape Yacht Club NFT (~$200,099 at the time).
3. dYdX ($2 Billion)
Launch Date: September 8, 2021
Token: DYDX
ATH Value: $26.80
The DYDX airdrop featured a 5-year vesting period, ensuring long-term engagement. Initial distributions were substantial, but full value required patience.
4. Arbitrum ($1.97 Billion)
Launch Date: March 23, 2023
Token: ARB
ATH Value: $1.69
Arbitrum’s 2023 airdrop outpaced competitors like Optimism by 2.9x. Its TVL surged 147% to $3.68 billion post-airdrop.
5. Ethereum Naming Service ($1.87 Billion)
Snapshot Date: October 31, 2021
Token: ENS
ENS decentralized governance by rewarding ".ETH" domain holders with 25% of its supply. Claims were open until May 2022.
6. Internet Computer Protocol ($1.74 Billion)
Launch Date: May 2021
Token: ICP
50,000 participants received 2,513 ICP each, with 10.5% allocated to node operators. The airdrop emphasized community ownership.
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7. Bonk ($1.33 Billion)
ATH Value: $0.000025
Bonk’s late-2022 launch skyrocketed in December 2023, becoming Solana’s first meme coin to crack the top 10 airdrops.
8. Celestia ($0.73 Billion)
Launch Date: October 31, 2023
Token: TIA
ATH Value: $13.99
Celestia targeted developers, Ethereum rollup users, and Cosmos stakeholders—avoiding "farming" mechanics for a more equitable distribution.
9. LooksRare ($712 Million)
Eligibility: Traded 3+ ETH on OpenSea (June–December 2021)
Reward: Up to 10,000 LOOKS tokens
This airdrop incentivized OpenSea users to migrate to LooksRare’s platform.
10. 1inch Network ($671 Million)
Launch Date: December 2023
Token: 1INCH
1inch expanded its airdrop to Mooniswap, Uniswap, and Gnosis users, distributing 15 million additional tokens.
FAQs
Q: How do I qualify for future airdrops?
A: Engage with DeFi protocols, hold native tokens, and participate in testnets or governance.
Q: Are airdrops taxable?
A: Yes, most jurisdictions treat airdropped tokens as taxable income at fair market value.
Q: Why did 2021 see the most airdrops?
A: Bull market conditions and DeFi’s growth fueled project launches and user incentives.
Q: What’s the risk of airdrop scams?
A: Verify project legitimacy—avoid sharing private keys or paying "claim fees."
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