Ways to be Eligible for Airdrops on Cosmos
Updated: Jun 27, 2022
The proof of stake Cosmos chain has been the best chain for airdrops. New tokens have made a habit of rewarding participants of the Cosmos chain by airdropping huge amounts of their total supply.
Airdrops give back to backers and are also a great marketing tool. Airdrops on Cosmos have attracted a lot of users. It shows that Cosmos cares about decentralization and the community since the majority of the supply is not held by the minority.
I will share a few ways that you can participate in the Cosmos network and possibly receive airdrops when new tokens launch. Some people have received airdrops worth five figures just for staking the right amount at the right time!
Stake on Chain
Connect your wallet to the Osmosis dex.
Deposit Atom from your wallet by clicking on the deposit button. Make a habit of keeping a little bit of each token in your wallet for fees.
You can swap Atom for different coins in the trade section. Always swap between pairs that have a liquidity pool to prevent trading losses.
You can withdraw different tokens to your cosmos wallet by clicking on the withdraw button. Choose a validator from the active list and delegate it to them.
I would recommend staking Atom, Osmo, Juno and Secret at the bare minimum to qualify for airdrops. Then I would stake Akash, Cro and Stars and other ones like Chihuahua, which is a meme coin on Cosmos.
You can check the APR for staking, and redelegate between validators and it will take twenty-one days to unstake your tokens. Periodically claim and stake your rewards.
The airdrop eligibility amounts vary as do the snapshots. From what I’ve seen most projects, require at least a few hundred dollars worth of tokens staked at the time of the snapshot.
Some of the airdrops are worth multiple times more than your staked amount so if you can afford it, it could be worth it. Remember there’s no guarantee of airdrops. Take airdrops as a gift for participating in Cosmos.
Stake on IBC Validators
A few tokens have required that tokens be staked on an IBC validator. Check the list above for IBC validators and delegate to them. You can also redelegate from a different validator to them without unstacking.
Adding Liquidity to Osmosis could qualify you for airdrops.
Go to the pools section and select pairs. I would pick a few popular pairs like Atom and Osmosis and split apart your investment between different pairs.
You can choose between a 1, 7 or 14 unbonding period and you’ll be rewarded a certain amount for providing liquidity. Some of the APRs are really good. I would click on unbound right after you enter the bond position because you’ll still earn during the unbonding period and you can always rebond your LQ after it's unbonded. The allows you to close you position after the the bonding period if you choose and give you more freedom.
Some pairs have superfluid staking, which allows you to add Liquidity and stake that LP on validators. Here is a Coinbase article that goes into detail about superfluid staking.
Pick a few popular pairs on Junoswap and provide liquidity. The steps are similar to the Osmosis chain.
Add liquidity on the Gravity Dex.
Adding to liquidity positions can be unstable and highly risky. For example, if the price of one token drops, your LQ position will shift more towards that asset and you’re overall position will be worth less. This is called imperment loss. You’ll be losing money if the price of one token drops or if both tokens drop.
Prices have dropped in June 2022 and now may be a good time DCA into good assets on Cosmos and stake them for future airdrops. There is a lot of fear and uncertainty now so the decision is yours.
Vote on governance
Certain airdrop criteria required that votes must have been cast on governance to receive airdrops. Check the governance sections regularly and vote. If you don’t understand the poll, you can select abstain and your vote will still be valid.
Buy a NFT on Stargaze with $Stars. Those who interacted with the platform could be rewarded in the future.
Strange Clan NFTs will be used for a game. Holders of Town 1 and Town 2 NFTs are going to be rewarded with a $PASG airdrop. The snapshot for Town 1 NFTs have already been taken. Town 2 NFTs will be minted in mid-July. Whitelisted participants can participate in the mint. You can try to get a Whitelist by joining the Passage discord and participating in giveaways.
Testnets are created for testing purposes and test tokens are used to test functionality. Sometimes testnet users are rewarded with an airdrop when the protocol launches. It is not always clear whether testnet users will be rewarded or not. On some occasions, it's clearly stated that the testnet is incentivized and certain steps like filling a form need to completed to be eligible for the airdrop. I would also follow their socials like Twitter and Discord since some protocols have had that requirement. You'll find details about testnets on Medium by using the search tool, from YouTubers like Finance after 40, who focuses on airdrop content and by following cosmos related accounts on Twitter.
A few more tips
Buy some Neta. As of late, holders of Neta have been rewarded with airdrops.
Follow the r/CosmosAirdrops on Reddit. You'll find some great information from these sources.
Check https://www.cosmosairdrops.io/ to find details on past and future airdrops. They have posted expected eligibility requirements and other details.
In conclusion, Cosmos is actively seeking decentralization and generously gives its community airdrops. I'm bullish on Cosmos and believe that in the future it will be leading the crypto space.