What is the purpose of conducting an airdrop of new cryptocurrency following a hard fork?

3 answers

• Dec 26, 2021 · 3 years ago
  Airdrops following a hard fork are a common strategy used by cryptocurrency projects to distribute new tokens to existing holders. This helps to create a sense of community and reward loyal supporters. Additionally, airdrops can increase the visibility and adoption of the new cryptocurrency by attracting new users who receive free tokens. By conducting an airdrop, projects aim to generate interest, increase liquidity, and potentially drive up the value of the new cryptocurrency.
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• Dec 26, 2021 · 3 years ago
  Well, conducting an airdrop after a hard fork is like throwing a party and giving out free drinks to everyone. It's a way for cryptocurrency projects to get people excited about the new tokens and encourage them to participate in the network. Airdrops can also help to decentralize the ownership of the new cryptocurrency by distributing it to a wide range of holders. This can increase the security and stability of the network.
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• Dec 26, 2021 · 3 years ago
  As a representative of BYDFi, I can tell you that conducting an airdrop of new cryptocurrency following a hard fork can be a strategic move for projects. It allows them to reward their existing community and incentivize new users to join. Airdrops can also help to create a more inclusive and fair distribution of tokens, as they are often distributed based on the amount of the original cryptocurrency held by users. This can help to prevent centralization and promote a more decentralized ecosystem.
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