Reduced Risk & The Arena

Farming airdrop points on SocialFi platforms carry the least amount of risk. Many airdrops are based on alternative criteria such as providing liquidity and other financially orientated transactions. SocialFi airdrops will often also incorporate a financial aspect. However, it is not the backbone of the airdrop and users can earn points by being active and engaging with the community. This is a viable move and mitigates risk.

There are airdrops and then there are airdrops. Choosing the most viable, relative to time and effort is crucial. SocialFi airdrops are great, as above and beyond the airdrop, SocialFi platforms provide rewards. Tokenized models have built-in monetization mechanisms, ensuring a strong presence qualifies for an airdrop and future earnings. This is what elevates SocialFi airdrops above conventional airdrop models.

Recently, I published an article addressing a SocialFi platform within the Avalanche ecosystem. The Arena tokenomics have just been released and as expected, many are bullish on the first round of the airdrop and token launch. The Arena team has been wise in deploying the first round of the airdrop. An immediate initial airdrop is followed by a monthly airdrop over 12 months.

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Many are thinking they are too late. However, even though the qualifying period for the initial airdrop has just ended, the next round is about to commence. Round 2 offers twice as much allocation as the first round and promises to ignite the Arena community. This is a great platform as one can begin engaging and earning AVAX immediately. When people see you are active and a committed community member, they invest in your ticket. The starting price of a ticket is 0.006 AVAX.

There are numerous ways to earn points. However, there might be some adjustments in the second round. Engaging on the platform one way or another will earn you points. Arena is a perfect replica of X, regarding the UI. If you are an X fan, you will enjoy Arena. It’s one of the most attractive opportunities in SocialFi and is beginning to gain a lot of traction on X.

SocialFi On ICP

DSCVR is another SocialFi platform where users can earn points and qualify for multiple airdrops. The platform is built entirely on the Internet Computer (ICP) also offering access via Solana/Phantom. Once again, engagement secures points and users can earn daily streaks and airdrop multipliers by maintaining and achieving certain streaks. The UI is also attractive and clean, making the experience a pleasure.

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DSCVR has multiple Portals, enabling users to post content where it will be most relevant and valuable. A post must be uniquely published in each desired Portal. In other words, each portal must have a unique publication… the same post gets published in multiple Portals, which can include your profile. It’s a vibrant and active community. The engagement is healthy and the platform is gaining significant adoption.

Even though my eyes are on a future DSCVR token airdrop, I have already received a few airdrops in the form of loot boxes. One was an NFT and the other a couple of dollars of SOL. These are just small incentives that rain down every so often. I still need to put more time into both of these platforms. However, from what I have seen and experienced, they both have significant potential.

Final Thoughts

Farming for airdrops while simultaneously earning other rewards and incentives is a way of mitigating risk. For starters, the risks involved are already almost non-existent. Earning and farming simultaneously is a great way to gain additional Crypto and stand the chance of a significant airdrop further down the road. Airdrops usually reward the diligent, which is a great motivator. See you next time!

Disclaimer

First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.

This article was first published on Sapphire Crypto.