Learn how to set up airdrops on Bonfire and read up on use cases to help onboard more people into your community.
- Airdrops 101
- Why You Should Use Airdrops
- How do Airdrops on Bonfire work
- Preparing to create
- Filling in the form
- Creating an Airdrop Campaign
- Viewing your active airdrops
- Best Practices
- When Should You Do Airdrops
Airdrops are just a fancy word for giveaways. They refer to giving away cryptocurrencies and/or NFTs, for free to community members. Even though they are free, depending on the network in which the airdrop is created, you or your community members might have to pay gas fees to complete the transaction. So research the blockchain you’re on before committing to anything.
The networks on which you can create an ERC20 airdrop right now using Bonfire are Ethereum and Polygon. When you create an airdrop on Bonfire you can add the airdrop block to any page.
Now, why would anyone give away free money?
Why You Should Use Airdrops
- Since airdrops are free, they’re a low barrier to entry for people to be onboarded into your web3 community — the tokens that are distributed are free but each claim by a user incurs gas costs.
- Airdrops get attention, everyone loves a freebie after all
- They are easy to send and receive (only a few clicks to create and a single click to claim)
- It’s the easiest and most effective way to make each of your community members feel special by distributing tokens in accordance to the actions they take elsewhere on your web3-enabled homepage.
- After airdrops are claimed and your community owns your tokens, you’ll be able to token-gate channels, content & merch, giving you more leverage on future offerings — you can do all of this via Bonfire
- Surprise and delight your community by giving them unexpected rewards
- The more people holding your token means the more people you have invested in your community, so the likelier you are to have a strong sustainable community in the longterm
- Having your own token isn’t a requirement, you can airdrop any ERC20 you want!
How do Airdrops on Bonfire work
Preparing to create
To airdrop an ERC20 you would first go to Airdrops > Create Airdrop button. Before you start filling up the Create Airdrop form make sure you have:
.csvfile with all the addresses of eligible users
- It would look something like this:
- Enough amount of tokens in your wallet that you would like to airdrop
- Native tokens of the chain you would like to create the airdrop on - to pay for gas
Filling in the form
Now that you have a csv of recipients and a wallet with enough tokens, you can get started by filling in the form
- The name, image you enter here will determine how the studio block will look like
- For the token you want to airdrop make sure you select the correct network from the dropdown (Ethereum or Polygon)
- Each airdrop must have a start and end date and time
- Include an optional message that will be sent to your subscribers via email when the drop happens
- You can also choose to make subscribing to you a pre-requisite so only subscribers can claim the drop
- And finally, upload the csv (formatted as described in the previous section)
Creating an Airdrop Campaign
The product will guide you through the steps to finalize the creation of your airdrop contract.
- Deploy your contract
If it is the first time that you are creating an airdrop you would be asked to “Deploy your contract”. This step deploys your very own Airdrop smart contract on the same network as the token you chose to airdrop.
- Transfer Airdrop Tokens
In this step you would be asked to transfer the total amount of tokens that you’d like to airdrop (sum of the amounts in the csv) to your smart contract — the contract you deployed in the previous step
- Create your campaign
In this step we create your airdrop campaign. Technically this executes the
create function on your own Airdrop smart contract. You are the sole owner of the smart contract.
Viewing your active airdrops
Once all the steps have been executed you will be redirected to your airdrops home page where you will be able to see all your active (and past) airdrops.
- Make sure you have enough funds in your wallet for airdrops and gas fees
- Name your airdrops something recognizable so that you can keep track of your most successful ones - you may want to create a habit out of those
- Set the start and end time based on the type of engagement you want to reward - where possible, try to minimize the amount of time each drop is live
- For example, if you want to reward community members for attending a livestream, set the airdrop live at the beginning of the stream and set it to expire when the stream ends
- Ask your community what they value and align that with airdrops and token-gates so that those reflect the wants of your fans
- Some of your fans have never claimed airdrops before, so they won’t understand how it all works. It’s important to be clear and explain things every step of the way. They’ll look to you for guidance
- Frauds can be disguised as airdrops. Make sure you warn your community that they should only accept airdrops from projects they are familiar with
- Remind them that they will never be asked for their keys private keys or seed phrases to earn an airdrop
- Don’t forget your token will only get value when people purchase or hold it. So doing airdrops is the easy part, next you’ll have to keep your fans excited and engaged about the community
When Should You Do Airdrops
There’s no right or wrong time to do an airdrop, but there are a few moments that might make more sense to get the most out of your efforts so that you are either rewarding your most loyal following or growing your community with people who potentially will become true fans. Here’s a list of good occasions to get you started:
- During a livestream
- At an event to whoever shows up for you
- To your early supporters and token-holders
- When you are looking to bring awareness to a new project
- As an unprompted reward