I'm not sure where to voice my feelings, as Reddit isn't ideal due to the less friendly atmosphere compared to here, especially in the gambling section. This community feels like a second home, thanks to Daniel for creating this space.
Arbitrum and Optimism Airdrop
With the Arbitrum airdrop, many people managed to gather thousands of tokens per wallet. Given that each token was valued at approximately $1-2, those who carefully cultivated multiple accounts might have potentially earned between $50,000 and $100,000 or more. Another notable airdrop was from Optimism. Both occurred before I became familiar with the concept of airdrops. When I reviewed the conditions, I realized they weren't too difficult, and it seemed possible to earn several thousand by participating in airdrop farming.
Back then, the Starknet (STRK token) and zkSync (ZK token) projects were highly anticipated. I devoted time and resources to these projects and had to deal with various costs, particularly gas fees, being characteristic of Web3.
My expectations were often humble. Earning $1000 would have been satisfying, and even a profit of $300-500 would have pleased me. But it seems my anticipations were too optimistic. Reality was harsh, and I ended up with nothing from these projects.
If you're unfamiliar with Crypto Airdrops, imagine this scenario:
Consider a college student who strikes it lucky with two $1000 casino jackpots at different locations. But then, the casinos refuse payment, falsely claiming a malfunction. It’s somewhat worse because winning gambling is purely luck-based, whereas airdrop farming demands time and incurs gas costs. My engagement levels might not have been extensive, but not receiving even the minimum token allocation is quite disheartening! It’s akin to doing an internship where you expect compensation based on performance after several months, only for them to come up with various reasons for not even offering minimum pay, leaving you powerless.
Eligible participants would at least receive 500 tokens, which could be sold early for over $1000. Unfortunately, the project decided to benefit insiders rather than rewarding the actual users. To qualify, all three requirements needed to be met, including having an account with a balance of at least 0.005 ETH at the time the snapshot was taken. This rule was quite stringent and excluded many genuine users. Back then, it was particularly challenging as my funds and luck were scarce. When attempting to make a deposit, I withdrew funds from Ethereum's L2 blockchains, planning to return with substantial winnings to pursue more airdrops. This snapshot was taken in November 2023, and that month was notably unlucky for me.
Starknet:
Missing out on these $1000 opportunities stings, especially as I'm still studying with no income or earnings from internships. The cost of living in China is considerably lower than in the US or Europe, so this sum means even more to me.
The current qualifying criteria aren't as reasonable as those for Optimism or Arbitrum, but they're still within bounds, allowing me to qualify. Unfortunately, many who should have qualified never received tokens, leading to many voicing concerns on platforms like Twitter and Discord.
ZKSync:
I have no clue what my entitlement might be if I were eligible. The least amount is mentioned to be 450 tokens (anything lower is equivalent to none), and amounts less than 450 or more than 100,000 are redistributed, thus the guaranteed minimum is in excess of 900 tokens. Had I been eligible, possessing more than one wallet could mean obtaining between 2000-5000 tokens. At a pre-market rate of $0.35, this sums up to $700-1750. If the inappropriate allocation strategy hadn't devalued the pre-market price by about 50%, it would have doubled the potential value.
The promise of these two highly anticipated projects brought only disappointment. It seems all valuable airdrops just aren't for me. The most significant airdrop I’ve received was from Shuffle, a crypto casino, and it barely exceeded $100.
I've played slot machines with minimum bets ranging from $0.1 to $0.3, winning over $1000 on four occasions, with two from Bonus Buys. Yet in Web3, with its potential financial opportunities, my largest airdrop win was a mere $100. My disenchantment with Web3 grows, and it seems better to leave it alone until I can casually inject $5k into a random, potentially unstable decentralized exchange.
Airdrop farming is popular because it’s regarded as an activity with positive expected value (+EV). Anything promising potential returns can be an airdrop, beyond just Web3. Here, giveaways function similarly: by engaging with certain casinos or games, there’s a possibility of receiving some Gamdom credit or an Amazon gift card.
Thanks for going through such an extensive and possibly incoherent text.
I’m unsure what this concerns 😀 but according to a Reddit comment, most posts on the gambling subreddit seem surprisingly anti-gambling.
Faced with frustration, I ventured to Tombstone RIP, hoping for a miraculous win to lift my spirits. Of course, this was still on a minimal bet of 0.1.
After six hours of continuous spinning with xBet, I managed to hit two wins at 300x. But the total win/loss ratio? Roughly around -3000x.
I've initiated numerous transactions on Arbitrum and Starknet, but I’m doubtful about any returns, as similar claims were made about sui. If you’re aware or remember, sui allowed mining on sui, reputedly simple. Initially, the developers promised those test net mined sui would be received, but they ended up distributing them randomly on Discord.
Oh no.
After that experience, I decided I had enough with airdrop pursuits 😀
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