2021 has been amazingly crazy for $Atom holders and stakers because of the airdrops that they qualified in and received recently. 2022 seems to be getting crazier as well as various crypto projects have already announced their airdrops for the Cosmos ecosystem and it’s just the first quarter of the year. If you’re wondering how to increase your chances of getting Cosmos Airdrops then you’ve come to the right place.
By the way, as always, before we start, please be reminded that this is not financial advice. I’m just sharing my crypto investing and trading journey. If you need financial advice, please get in touch with a professional financial advisor.
And also, don’t forget to Do Your Own Research (DYOR).
Anyway, let’s continue on, shall we?
My Personal Journey to the Cosmos Ecosystem
As I have mentioned in my previous crypto blog posts, $Atom is one of the first few tokens that I bought as soon as my Binance account was approved in Q1 2021. Unfortunately, since I was very new in the crypto space during that time, I sold it right away as soon as I profited a small amount of money.
I know that there’s no use in crying over spilled milk. That’s why moving forward, I have decided to grow my Cosmos exposure instead in order to qualify for the upcoming airdrops.
What is Cosmos?
Cosmos is branded as the internet of blockchains. And as time goes by, I am personally seeing why it is so. The list of interoperable apps and services is continuously growing. $Atom is the token of Cosmos, and though it was previously labeled by some as the ‘cursed’ coin (saw this term on some Reddit conversations), it’s slowly proving to everyone that it’s worth investing and holding.
If you’re an early investor, the airdrops alone in 2021 would have made you earn a lot of money especially if you staked your $Juno and $Osmo airdrops.
Am I Too Late?
Personally, I’m asking myself the same question. However, as a popular quote says, “The best time to invest was yesterday. The second best day is today!” Or perhaps, during a pullback (LOL!)
A word of caution though, do not get into the game or do not buy Cosmos tokens or any crypto tokens for that matter without researching it first. As you probably already know, crypto is a highly volatile market.
Do not buy just to chase an airdrop. No one knows what the future holds and nobody knows if the risk would be worth it or not.
As I always say in all of my crypto blog posts, please do your own due diligence to avoid losing your hard-earned money and to avoid unnecessary stress in your life.
How to Increase Your Chances of Getting Cosmos Airdrops
Follow Relevant Twitter Accounts
One of the most important things that I do is to follow Twitter accounts of the relevant projects that are often included in airdrops. Here are some of the Twitter accounts that I follow to ensure that I get updates on upcoming airdrops and project developments in the Cosmos Ecosystem.
I follow a lot more Cosmos projects on Twitter but it may be too overwhelming to include all of them here. But for starters, it is very important to follow at least Cosmos, Osmosis Zone, Juno Network, Secret Network, and Terra Money.
I also follow other Twitter accounts that collate Cosmos airdrops information such as @Cosmos_Airdrops.
As you go along, your list of Twitter accounts to follow will definitely grow as new projects get launched in the succeeding months.
Follow Relevant Reddit Groups
Aside from following relevant Twitter accounts, I also follow Reddit groups. There’s so much important information being shared on Reddit that I don’t often see on Twitter. Here are some of the Reddit groups that I follow:
Stake the Minimum Amount
The minimum amount is actually determined by the project that is going to give/distribute the airdrops, thus knowing the exact amount is quite difficult.
However, if we’re going to base on historical airdrop information, we can say that one might be qualified for an airdrop if he/she stakes at least:
- 5 $Atom
- 30 $Osmo
- 25 $Juno
- 50 $SCRT
I’ve seen an airdrop that even qualified just 1 staked Atom, however, bear in mind that if you stake a very small amount, the chances are you will also get a small airdrop.
Most of the airdrops I’ve seen give airdrops commensurate to the number of staked tokens. Although, once in a blue moon, some give a fairdrop. A fairdrop is when a project airdrops the same amount of token to everyone who meets the minimum staking requirements.
Personally, my goal is to grow my staked assets to at least 50 $Atom, 50 $Osmo, 50 $Juno, and 100 $SCRT to increase my chances of getting substantial airdrops.
Stake Your Tokens Using Non-custodial Wallet
Airdrops are only given to stakers who use non-custodial wallets such as Keplr and Cosmostation. Personally, I’m using Keplr. I buy my $Atom on Binance and then transfer and stake $Atom in Keplr.
For $Juno and $Osmo tokens, I convert some of my $Atom tokens to $Juno and $Osmo using Osmosis Zone and then stake it using Keplr Dashboard as well. I will write other posts on how to do this and I will link them here for your reference.
If you don’t have a Keplr Chrome extension wallet yet, check this article out.
Only Stake Your Tokens with Non-Exchange Validators
When staking your tokens using Keplr, always make sure to stake your tokens with non-exchange validators (e.g. Binance). Crypto exchange validators are often not included in airdrops.
It would be very helpful for the entire network as well if you stake outside of the Top 10 validators. This will help better improve decentralization.
Become a Liquidity Provider
Another qualification for an airdrop aside from staking tokens is by becoming a liquidity provider on Osmosis and Juno Swap.
Again, just like staking, the minimum amount/worth of liquidity pool varies depending on the project that is giving airdrops.
Please bear in mind though that when you provide LP, that investment will be subject to Impermanent Loss, so tread with caution.
Not all LP pools are often included though, but based on what I have seen so far, $Osmo/$Atom on Osmosis and $Juno/$Atom on Juno Swap are often included.
Participate on Governance
Changes in decentralized apps are often voted upon by members or token holders. Some airdrop qualifications included your participation in governance by voting.
One example of this is $NETA Airdrop (Claim Date: February 2, 2022). They gave the following to qualified participants:
- Person delegated at least 25 JUNO on-chain = 1 NETA
- Person voted on at least 1 on-chain governance proposal = 10 bonus NETA
- Person voted on all on-chain governance proposals = 5 bonus NETA
- Person delegated to at least 1 validator outside the top 20 = 0.2 bonusNETA
Imagine getting at least 10 $NETA just by voting. Sigh!!! Hahaha! How I wish I was one of those lucky people who qualified for the $NETA airdrop!
By the way, bear in mind that ‘Voting’ will incur a cost since it does require a gas fee.
Stake Some of Your Airdrops
Just like the expanding universe, the Cosmos ecosystem is also ever-growing. It’s like the airdrops that you received a few months ago are now giving you a new batch of airdrops.
For example, those who staked $Atom in a noncustodial wallet on 18 Feb 2021 were qualified to receive $Juno. If you didn’t remove your staked $Atom and if you staked your $Juno tokens as well, then you would have qualified for a lot more airdrops such as the upcoming $Raw token on Juno Swap.
Some Validators Give Airdrops
Switching to another validator does not always mean that you have to Unstake/Undelegate. Keplr has a redelegate feature.
It’s up to you if you want to switch to another validator in order to get bonus airdrop points. Some people don’t like this idea. But, I guess at the end of the day, it all boils down to the decision of the token owner.
Final Thoughts and Important Reminders
I have only been in the crypto space for a year and so far, one of the biggest growth in an ecosystem that I’ve seen is Cosmos and it feels like it’s just the beginning. And just like any growing ecosystem, bad actors will be lurking around the corner to take advantage of unsuspecting newbies like us.
Here are some important reminders that you should keep in mind.
Don’t Chase Airdrops
If you feel that a project is not worth investing in based on the information that you’ve gathered, then don’t invest just for the airdrop. Only invest in projects that you feel will bring value to your financial life.
Take Everything with a Grain of Salt
Take everything with a grain of salt especially information that you see on online forums. Learn how to fact-check and how to filter information that will come your way.
Be Cautious of New Airdrops
Always be cautious of new projects that will announce an airdrop. DYOR and do your own due diligence to avoid losing your hard-earned money.
Do Not Claim Airdrops Right Away
This is very important, especially to people who are new to the crypto space. Claiming airdrops often need your wallet to be connected to their app. Be cautious in connecting your Keplr wallet to anything.
Always check information on Twitter and Reddit and always check other participant feedback first.
Scammers are getting quite ingenuous nowadays and they might find a way how to dupe unsuspecting investors.
Also, please always check the URL of the website. There have been reports about fake phishing websites pretending to be the website of some DeFi protocols.
Don’t Give Your Seed Phrase
Do not give your seed phrase to anyone or any website. It should not be a requirement for claiming an airdrop.
As always, DYOR. Claiming airdrops always has a timeframe. Before you claim any airdrops, always do extensive research to ensure the safety of the funds on your Keplr wallet.
I will be updating this soon once I encounter new information that might be useful regarding this topic.How to Increase Your Chances of Getting Cosmos Airdrops Click To Tweet
Feel free to share your tips and suggestions in the comment section below.