XRP airdrops are essentially free distributions of new tokens to XRP holders. These airdrops are used by projects building on the XRP Ledger as a way to spread awareness and encourage participation in their new token.
XRP has a very large community of holders, many projects that are trying to reach a large user community airdropped some tokens to XRP holders to ensure a broad distribution.
How Does it Work?
When a new project launches on the XRP Ledger blockchain, they may choose to do an airdrop to distribute their tokens to XRP holders.
The project will analyze the eligibility by taking a snapshot of the XRP in the wallet of the holder then the new tokens will be distributed to the eligible XRP wallets.
The project uses smart contracts on its own treasury wallet to send the tokens to eligible XRP addresses. The tokens will be received automatically in the wallet.
XRP Airdrops Projects
There have been a few airdrops made by some projects in recent years. The trend was started by the project flare. Here a few XRP Projects are listed out:
XRP Airdrop by Flare
The most prominent airdrop for XRP holders was conducted by Flare. It was a project that created data acquisition protocols for decentralized application developers.
Flare created a decentralized system that provides reliable real-world data to applications built on the blockchain.
Flare took the snapshot for the token airdrop on December 12, 2020, and the tokens (FLR token) were airdropped in early January 2023 to the eligible users.
Many leading crypto exchanges supported this airdrop like Coinbase and Binance who distributed FLR tokens to users based on the XRP balance eligibility taken at the time of the snapshot.
XRP Airdrop by Coreum
Coreum, an Enterprise-grade blockchain project airdropped tokens to XRP holders in 2023.
The snapshot for the airdrop was taken on March 24, 2023, and a total of 25 million xCORE tokens were distributed to the eligible XRP holders. On May 15, 2023, the tokens were distributed to the XRP wallets.
XRP Airdrop by Evernode
Evernode is a layer 2 project which is planning on introducing smart contract capabilities to the XRP ecosystem. The project made a snapshot of the XRP blockchain on September 1, 2023.
Evernode claimed that it would analyze the snapshot and airdrop EVERS tokens to the eligible users.
Prominent exchanges like Uphold and Bitrue announced support for the Evernode airdrop.
the Evernode project recently announced to its users that the Evernode airdrop registration process had finished in December of 2023.
The project claimed notified that a total of 38,478 XRP Ledger addresses were eligible for the airdrop which includes both addresses owned by individual users and addresses controlled by cryptocurrency exchanges like Bitrue and Uphold.
The airdrop happened in early 2024 when the eligible users received news of airdroped EVERS.
Unfortunately, there aren’t any active XRP airdrops happening right now. Be cautious of fake airdrops trying to steal your XRP or wallet information. Never share your private keys or seed phrases with anyone.
Are You Eligible for the XRP Airdrop?
The eligibility for the airdrop depends on the XRP you have at the time of the snapshot taken by the project so it would advisable to check the snapshot date of the project on their official website or other platforms that the project updates.
Then visit the Bithomp XRP explorer where you enter your XRP Ledger address and use the explorer’s “time machine” feature to check what balance you had in your wallet at the time of the snapshot.
If you had enough amount of XRP (the required amount differs in different projects) at the time of the snapshot, you would be eligible for the airdrop.
Note that you’ll need to hold XRP in your crypto wallet instead of storing it on an exchange if you want to be eligible at the time of snapshot by the Project.
Conclusion
XRP airdrop is a marketing strategy where projects send coins or tokens to wallet addresses based on eligibility. It is an easy way to pile up your assets without actually buying the token.
Airdrops usually don’t convert to a significant value, therefore it is probably not wise to invest in XRP just because airdrops occur once in a while.
Always be aware of airdrop fakes and scams as XRP is a popular cryptocurrency, and there are many scammers trying to steal the assets of many users.
Conduct thorough research before you participate in the airdrop to understand the potential benefits and risks of the scheme.
