xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
Subscribe to xuanling11
Subscribe to xuanling11
Share Dialog
Share Dialog
<100 subscribers
<100 subscribers
I tried to explain what Airdrop is in comic strips.
TL;DR
I explained what Airdrop is and how it will be used in a particular situation.
Some Takeaway
An airdrop is a marketing tool for crypto projects to spread their awareness and broaden audiences. Airdrop is a free giveaway for users to use tokens or coins and boost its utility. Legitimate airdrops will never ask users to make any investment. However, with the recent crypto hype, there are more and more airdrops scamming people's funds.
Why Airdrop
In crypto, an airdrop is a tradition for encouraging people to adopt their coins. Free giveaways make people use coins to exchange for something else. It is a way to raise branding awareness but also recruits more promoters. To be able to receive the airdrop, you need to have the infrastructure to accept coins. It pushes you to learn about their crypto project and test their functionality.
Airdrop Scam
However, there are more and more scams in the crypto space. Airdrop is becoming another scam where your wallet forcibly receives unknown tokens and charges expensive gas fees when trying to exchange to other tokens. It can also lead you to malicious websites and trick you to connect your wallet and drain away from your funds. It then becomes part of a phishing scam.
Due Diligence
You should suspect each airdrop. There will be no free tokens to give out without any cost. Particularly in the crypto space which is full of scammers and promoters, an airdrop is a phishing tool rather than a giveaway marketing tool. Research airdrops at first even though they appeared in your wallet. Don’t interact with tokens unless you are sure what they are. Many tokens are likely embedded with suspicious code in the smart contract that requires users' interaction to activate the action. Try to be as conservative as possible to approach those airdrops unless tokens are well known. But even with well-known tokens, you still have to do due diligence to verify their source.
Airdrop Conditions
If there are requirements to receive airdrops, you are likely to enter a phishing scam. Any request for an email address, name, social media accounts, or even private keys is a red flag. An airdrop should have no obligation to attach. It is a promotion to exchange for users’ interaction.
In conclusion
An airdrop is a market strategy to interact with users and encourage them to use the products. Nowadays, an airdrop is part of a phishing scam to lure users to provide information to scammers to exploit.
I tried to explain what Airdrop is in comic strips.
TL;DR
I explained what Airdrop is and how it will be used in a particular situation.
Some Takeaway
An airdrop is a marketing tool for crypto projects to spread their awareness and broaden audiences. Airdrop is a free giveaway for users to use tokens or coins and boost its utility. Legitimate airdrops will never ask users to make any investment. However, with the recent crypto hype, there are more and more airdrops scamming people's funds.
Why Airdrop
In crypto, an airdrop is a tradition for encouraging people to adopt their coins. Free giveaways make people use coins to exchange for something else. It is a way to raise branding awareness but also recruits more promoters. To be able to receive the airdrop, you need to have the infrastructure to accept coins. It pushes you to learn about their crypto project and test their functionality.
Airdrop Scam
However, there are more and more scams in the crypto space. Airdrop is becoming another scam where your wallet forcibly receives unknown tokens and charges expensive gas fees when trying to exchange to other tokens. It can also lead you to malicious websites and trick you to connect your wallet and drain away from your funds. It then becomes part of a phishing scam.
Due Diligence
You should suspect each airdrop. There will be no free tokens to give out without any cost. Particularly in the crypto space which is full of scammers and promoters, an airdrop is a phishing tool rather than a giveaway marketing tool. Research airdrops at first even though they appeared in your wallet. Don’t interact with tokens unless you are sure what they are. Many tokens are likely embedded with suspicious code in the smart contract that requires users' interaction to activate the action. Try to be as conservative as possible to approach those airdrops unless tokens are well known. But even with well-known tokens, you still have to do due diligence to verify their source.
Airdrop Conditions
If there are requirements to receive airdrops, you are likely to enter a phishing scam. Any request for an email address, name, social media accounts, or even private keys is a red flag. An airdrop should have no obligation to attach. It is a promotion to exchange for users’ interaction.
In conclusion
An airdrop is a market strategy to interact with users and encourage them to use the products. Nowadays, an airdrop is part of a phishing scam to lure users to provide information to scammers to exploit.
No activity yet