Airdrop

An Airdrop consists of the free distribution of tokens in exchange for an action by the user, with the aim of creating a loyal community. It is in fact a marketing strategy, aimed at raising awareness of a crypto project and may involve actions by users in exchange for a reward. Airdrop methods vary depending on the project, but generally consist of distributing small amounts of tokens to a set of wallets.

Born in conjunction with ICOs in 2017, different types of Airdrop have been showcased over time. Bounty Airdrops require a manual action for the user to complete. Exclusive Airdrops send tokens to a selected number of wallets. Holder Airdrops, on the other hand, grant free tokens to anyone holding a number of specific currencies in their wallet.

In all cases, an Airdrop serves to increase the distribution of tokens by incentivising their decentralisation. The risk, however, is that the project only grows in terms of numbers, without actually being supported by an active community.

Through the Club mechanism, Young Platform encourages participation in safe Airdrops. To benefit from a higher reward, the requirement is to belong to a Club (either Bronze, Silver, Gold and Platinum), therefore holding a certain number of YNG tokens. This way, the Young Platform community becomes an active part of the ecosystem, with tangible benefits on participation.

Correlated words

SEC

The SEC (Securities and Exchange Commission) is a U.S. government agency responsible for regulating and overseeing the securities markets.

Whitelist

In blockchain, a Whitelist is an exclusive list of addresses granted early access to participate in ICOs or to purchase NFT collections.

Total Supply

Total supply is the entirety of tokens or coins that have been created or issued by a cryptocurrency project up to date.

Listing

Listing refers to adding a new cryptocurrency or token to an exchange, making it available for trading to the public.

Young Club

Young Platform's Young Club offers its members exclusive access to various benefits and discounts within its cryptocurrency ecosystem.

Utility Token

Utility Tokens are specialised cryptocurrencies that grant holders access to services and benefits, within a blockchain ecosystem.

Token YNG

Young (YNG) is the Utility Token at the centre of the Young Platform ecosystem, an Italian European company. It is an ERC-20 token.

Tokenomics

Tokenomics involves the economic rules and models governing the issuing, distributing, and using a digital project's tokens.

Scarcity

Scarcity defines the limited availability of an asset, directly influencing its market demand and perceived value.

P2P

Peer-to-peer (P2P) networks facilitate direct user data exchange, bypassing the need for centralised intermediaries.

NFT

An NFT, or Non-Fungible Token, represents a unique digital item or asset recorded and verified on a blockchain.

Liquidity

Liquidity measures how easy it is to convert a cryptocurrency or financial instrument into fiat currency without affecting its value.

Inflation

Inflation signifies the gradual increase in market or currency prices, impacting the purchasing power over time.

IEO

An IEO (Initial Exchange Offering) is a cryptocurrency launch event hosted by an exchange to distribute and market a new digital currency.

ICO

An ICO (Initial Coin Offering) is an event where a new cryptocurrency is sold to the public to distribute and promote it in the market.

Fungibility

Fungibility is the characteristic of assets that are interchangeable and divisible into smaller units for ease of exchange.

DYOR

Do Your Own Research (DYOR) emphasizes the importance of independent research and not solely relying on a single information source.

Delisting

Delisting is the removal of a cryptocurrency from an exchange's offerings, often due to non-compliance or poor performance.

Crowdfunding

Crowdfunding is an online method of raising funds, allowing broad participation from various individuals or groups.

Coin Burning

Coin Burning is a method to permanently remove cryptocurrency units from circulation, potentially increasing scarcity and value.

Audit

An Audit in software development is a thorough review process to ensure the correct and secure functioning of the software.

Black Swan Event

A Black Swan Event is unpredictable with potentially severe consequences, often radically changing the status quo.