Projects airdrop tokens to bootstrap a user base, reward early users, or distribute governance broadly. Eligibility is typically based on prior on-chain activity — having used a protocol before a snapshot date, held a particular asset, or bridged to a network — and the tokens arrive claimable rather than pre-deposited.
Two things follow. Anticipated airdrops generate large volumes of activity from users farming eligibility, which inflates a protocol's usage figures before the snapshot and deflates them after. And airdrops are a favoured phishing vector: fake claim sites ask for a signature that grants a contract permission to drain the wallet, so a claim should only ever be made through the project's verified address.
Are airdrops really free?
The tokens are, though claiming costs gas and may be taxable where you live. The frequent risk is a fraudulent claim site whose transaction grants access to your wallet rather than sending you anything.
Last updated October 17, 2026