Crypto Academy Season 3 Week 3: Homework Post for Professor @wahyunahrul | Beginners' Course: Airdrop by @joelmaxwell

Hello steemian,am very proud to be part of this community and participate in this week 3 season 3 home work,I also want to thank prof @wahyunahrul for the wonderful lecture on airdrop

QUESTION 1

What do you think about Airdrop in cryptocurrency?

              ANSWER

Airdrop in cryptocurrency means giving out freely or dashing out coin to participant that participated in the beginning of any cryptocurrency as a way of advertising,creating awareness and also promoting the coin to the people interest.

Source

When a new cryptocurrency is being launched,it may not be well known making it less popular,so the founder will find a way have making it widely spread and popular he or she will result in giving it out for free as a way of awareness creation and through this act,it will attract the community attention thereby making traders develop interest in the cryptocurrency and alot of people will actually want to be interested.

Airdrop which is also an awoof coin will really trend because the masses will be happy getting a coin free and it rises.Then you have won their heart,the will always want to invest in it.

Airdrop is also a way the founder of a coin use in marketing their coin because freely giving it will being more customers attention.

Airdrop is also a way of appreciating the customers that have invested in a particular cryptocurrency project for a particular period of time and the are reward with the free token by the company or founder

QUESTION 2

How can we know about an Airdrop event so that we can participate?

         ANSWER 

• social media

This is one of the way to know that an event about airdrop is on going because through the media handle it will be advertise in platform that an event about a particular airdrop will come up.mesia handle such as WhatsApp platform,Facebook,Twitter and telegram

Source

• Discussion group.

This has to be a group of friends having good time,one of them may be doing cryptocurrency and will just bring the idea up to his other friends that a particular airdrop event will hold and those with interest will pick interest.

• cryptocurrency site

We can know about the airdrop through site such as

Airdrops.io

Once you click on the link it will take you directly to airdrop,here we have latest airdrop,hotest and holder airdrop

Source

Airdropking.io
By clicking on the site,it will take you directly to where you can find new coin

Source

Airdrop Alert.
Click the link

Source

• we can also make use of https://coinmarketcap.com/airdrop/

here you will go to https://coinmarketcap.com

Source

After that, you click on the three lines

Source

you click on calendar

Source

once you click on calender,it will show you airdrop ongoing and the one that have ended even the upcoming once

Source

QUESTION 3

WHERE ARE THE EVENT HELD

            ANSWER

The airdrop event is mostly held on social media where the will attract people from different cities.They may do this through zoom meeting etc.it is also held on telegram groups,WhatsApp group.

QUESTION 4

ARE THE FREE FROM SCAM

            ANSWER 

No

REASONS

• people will want to take advantage of this and be scamming people

• airdrop is legitimately free,so if any site ask for
  any bank details before giving you,it is fake.

• Referral scam
  If ask to refer a particular number of people before dropping it,it is a fake

• Private keys
  Scammers can make use of this by ways of getting individual private key and probably hijacked his or her trust wallet.

WAYS TO AVOID

• Terms and Conditions
  We first read on the terms and conditions to what the terms are by this i mean what they are really up to .

• Advantage
  The advantage the innovation will add to the society by this we will know what the will be able to offer before we make decisions.

• private key safety
  Never disclose your private key in the name of airdrop to avoid loosing you long time saving

• Avoid suspicious link
  Be alert and avoid clicking on unnecessary link in search of airdrop

QUESTION 5

HAVE YOU EVER PARTICIPATED IN CRYPTOCURRENCY AIRDROP EVENT?IF SO THEN EXPLAIN IT.MEANWHILE IF YOU HAVE PARTICIPATED BUT HAVE HEARD OF AIRDROP EXPLAIN IT?

                   ANSWER

I have never participate in any airdrop event but when doing the homework i came across an airdrop in which i will love to share by name EMISWAP

Source

it has a total funding amount of over $2.8m in about 3 rounds of funding,it headquarters is in Gulf cooperation council,Dubai and was founded 1st june 2020.

It was formed by ESW governance token and also boost yield NFT magic card,it is EmiDaO ecosystem first project,it also give their holders the right of getting a share of profits of protocols.

Also a fork of Uniswap v2
It also distribute all the revenue it acquire among their stakeholders and also gives compensation for about 100% of the fees of ethereum that is being paid for any work when an exchange is made with it ESW token(gas compensation)

QUESTION 6

Give and explain an example of an Airdrop event that has passed and the airdrop was successful. Then give one more example that has been proven to be a fraud. (It is not allowed to take the example that has been taken in question number 5).

            ANSWER 

I have never participate in any airdrop event but when doing the homework i came across an airdrop in which i will love to share by name PANCAKESWAP that was successful

Source

It is a decentralized exchange used in exchanging BEP20 on the binance smartchain

The users here trade in liquid pool

It allows user to have additional coin such as Cake and Syrup.

Here trader can make use of the coke token to receive the syrup when he uses the coke to stake in lottery.
it successfull in that it give out the first 1900 people to participate in their special edition"Hiccup"NFT(Non fungible Token)

It also gave out about 10,000wCRW to it liquidity providers
Source

SCAM AIRDROP

Example of scam airdrop is OmiseGO scam(OMG)
The founder of the coin on September 2017 wanted dropping the token but due to reason known to them it was postponed after awareness and promotion were made through social media handle.
Scammers seize this opportunity to open fake Twitter account and get people private keys and looted a whopping sum of money from the people that fell victim

QUESTION 7

Look for examples of ongoing Airdrop events, make an analysis that proves that the Airdrop of your choice is good. (Screenshot required)

           ANSWER

We have so many airdrop ongoing examples are

• KCCPAD
• zerogoki
• ElongDoge
• WELL
• KccSwap
• pi network

But i will analyze the KCCPAD

Source

This airdrop currently on coinmarketcap has been participated by 350,191 participants and over 2,000 people have currently won it with a total of 4.2m KCCPAD drop so far.

Though not yet launch i belief it will be successful because of the bluezilla lab.
It is being incubated by bluezilla lab and this is the same team that incubated the BSCpad and TronPad and are well experience.

QUESTION 8

Explain the steps to participate in the Airdrop of your choice.

Before participating in any airdrop

• you must own a cryptocurrency wallet

• some site require you have a specific token known as base token

• valid email or phone number

Here i will make use of the pi network

To participate in the pi network

• you will first click source,you will see download which will take you directly to playstore.

Source

• You download the app on playstore after installing you open the application

[Screenshots from my phone]

• After opening the application you are requested to pit your phone number

[Screenshot from my phone]

• after that your name and username as account is almost ready

[Screenshot from my phone]

• after that you will be ask to put a referral code
  After that you return to login

[Screenshot from my phone

• the site
  

  
  
  [Screenshot from phone]
  
  I was given 1 pi for joining the platform
  In the site you perform a tasks once a day to get rewarded in which I did mine and was rewarded with a token.

• after I perform today's task of mining I was rewarded with a token

[Screenshot from my phone]

This is how i participate in the airdrop platform known as pi network

CONCLUSION

The lecture was very educative from knowing what is airdrop which is giving free coin as a way of promotion,advertisement and appreciation to examples and way of avoiding scam,imagine being scam when you feel you will be rewarded.I also learn how to participate and successfully participated in the pi network which am grateful.

It is advisable to keep our private keys safe to avoid the risk of being scam
Thank you @wahyunahrul