Airdrops represent a unique phenomenon in the cryptocurrency ecosystem, involving the distribution of tokens to early adopters of blockchain protocols and platforms. To those unfamiliar with crypto, the concept may sound unusual—yet these airdrops can sometimes yield highly valuable tokens. While such events have fluctuated in frequency over the years, recent airdrops from Layer 2 networks like Optimism and Arbitrum have revived interest in this practice.
With so much potential value at stake, many on-chain users attempt to position themselves to receive as many airdrops as possible. These individuals, often referred to as “airdrop farmers,” try to predict which projects might conduct airdrops and maximize their eligibility across multiple wallets. Over the past year, communities centered around airdrop hunting have grown substantially, with some participants managing hundreds—or even thousands—of wallets.
For those who master the strategy, the rewards can be substantial.
“We made close to $1 million,” shared an anonymous Russian participant known as LEOresearch, referring to the total earnings of their team. “Blur gave us around $300,000, Arbitrum about $180,000, Aptos $125,000, and Optimism $120,000.” LEOresearch has been active in crypto since 2020, operating a Telegram channel that shares crypto insights with over 56,000 Russian-speaking users from Commonwealth of Independent States countries, as well as an active chat group with 6,000 members.
Turning Airdrop Hunting Into a Business
During bull markets, LEOresearch’s team focused on making money through token sales and initial offerings. When bear market conditions arrived, they began exploring new revenue streams. After the Aptos team conducted an airdrop in October 2022, they turned their attention to airdrop farming. “After that, we decided to form a team including researchers, software specialists, and managers—making airdrop hunting a business and a consistent way to earn,” they explained.
In some respects, airdrop farming is straightforward. The core idea is to identify projects likely to distribute tokens to early users, then interact with those platforms over time—often moving significant amounts of funds through them. If an airdrop occurs, each wallet receives a reward. But the process isn’t without risk. Depending on the network, using platforms incurs costs such as gas fees, bridge fees, transaction charges, and slippage. The more wallets used, the higher the cumulative cost.
If an anticipated airdrop doesn’t happen, airdrop farmers can end up losing money.
LEOresearch’s team initially used only a few wallets per person, as the process was largely manual. However, they encouraged friends and family to adopt the same strategy, expanding the community’s overall reach. More recently, they began testing software that automates transactions, randomizing amounts and timing to mimic organic usage and improve efficiency.
The team also built a community named NFD focused on airdrop hunting and other crypto strategies. Their goal is to provide research that helps members maximize their airdrop opportunities. The strong demand for such guidance was clear when they sold 2,000 NFTs that granted access to their platform’s trial version.
How One Form Submission Led to an $80,000 Airdrop
Another anonymous crypto user from Russia, who goes by Auri, reported that their first airdrop reward came from simply filling out a Google form for Inverse Finance. In March 2021, they were living in a dormitory with minimal expenses—around $400 per month. The airdrop delivered 80 tokens worth $80,000 at the time, all in exchange for completing a form. Though market conditions later wiped out those gains, Auri remained in crypto and continued engaging with pre-launch projects.
Then, in September 2021, a coding error during the Biconomy airdrop allowed some users to claim larger allocations. “A few of my friends made $500,000 from that mistake,” Auri recalled. “I thought, ‘What am I doing wrong?’”
From that point, Auri dove deeper into airdrop farming. They used 100 wallets to conduct transactions on the Arbitrum network in hopes of qualifying for a rumored airdrop. Care was taken to avoid linking the wallets openly, which could have excluded them from token distribution. While Auri didn’t disclose exact earnings, the smallest possible reward was 625 tokens per wallet—suggesting a minimum of $80,000 at the time of distribution.
Auri typically engages with 10–20 projects at a time, prioritizing those with larger potential airdrops. They manually execute all transactions, distribute funds via non-custodial methods, and participate in communities where hunters discuss strategy. “All the communities I’m in are talking about airdrops. There’s no real ‘alpha’—everything is straightforward. It’s all about scale,” they noted.
Sharing Knowledge and Strategy
Some analysts cast a wider net, monitoring hundreds of projects for potential airdrops. Alpha Drops, for example, is a website that provides airdrop farming intelligence and tracks around 170 projects. Its founder, 28-year-old Aram Barzani, launched the site in May 2022 to offer clearer guidance after maintaining shared spreadsheets popular among airdrop farmers.
Barzani says strategies are largely based on patterns from past airdrops, especially those that published clear criteria for token distribution. He estimates that only 10–15% of projects eventually conduct airdrops, and they often reward similar behaviors—such as high transaction volume or numerous smart contract interactions.
Unlike large-scale farmers, Barzani doesn’t use many wallets. Instead, he focuses on a few wallets with high transaction volume to maximize multiplier effects. For the Arbitrum airdrop, he executed over 1,000 transactions with around $300,000 in volume, spending $1,000 in fees. In return, he received an airdrop worth $15,000.
This cautious approach helps avoid “sybil detection”—where projects identify and exclude clusters of linked wallets. This practice became more common after Hop Protocol’s June 2022 airdrop and remains a key risk for airdrop hunters today.
Is Airdrop Farming Ethical?
Airdrop farming raises several ethical questions, though there are no definitive answers.
In many cases, airdrop hunters are simply using protocols with multiple wallets—often without any guarantee of a reward. If projects choose to distribute tokens to these users, it doesn’t necessarily mean rules were broken.
“A project rewards you for being a genuine user and hopes you’ll keep using the platform. But if you deploy multiple wallets, you’re trying to maximize your gain from rewards that are supposed to be distributed fairly. I think that’s somewhat unfair,” says Barzani.
Auri, who more closely fits the profile of a large-scale farmer, admits to some unease. “For some reason, I do feel a bit uncomfortable inside, like it’s a kind of lie.” Still, they justify the practice by pointing out that large projects may prefer to be overly inclusive rather than risk excluding genuine users—as happened in the case of Paraswap’s airdrop.
“I’ve grown more cynical about crypto,” Auri says. “Before Arbitrum, I was nervous. Now I think: if that’s the game, let’s play the game.”
Frequently Asked Questions
What is an airdrop in cryptocurrency?
An airdrop is a distribution of free tokens or coins to wallet addresses, usually to reward early users of a blockchain project or to promote adoption.
How do you qualify for crypto airdrops?
Eligibility often depends on interacting with a protocol—such as making transactions, providing liquidity, or testing features—before the announcement of an airdrop. Each project sets its own criteria.
Is airdrop farming legal?
Airdrop farming is generally legal, but projects may exclude wallets they identify as sybil or farmed accounts. Always comply with local regulations and project terms.
What are the risks of airdrop farming?
Risks include financial loss from transaction fees, non-receipt of expected airdrops, sybil detection, and smart contract vulnerabilities. Costs can outweigh rewards.
Can you make a full-time income from airdrop hunting?
While some individuals earn significant sums, income is inconsistent. Most treat it as a side activity due to market volatility and the speculative nature of airdrops.
How can I stay updated on upcoming airdrops?
Follow reputable crypto news sources, join community discussions, and 👉 explore more strategies for identifying early-stage opportunities.