Airdrops are used by blockchain applications and protocols to attract an initial user base, and to grow the user base over time. In the case of many airdrops, tokens are distributed to select users as a "reward" for interacting with the underlying protocol, with a long-term goal of creating a loyal community that will generate genuine economic activity well after the airdrop. Although airdrops are widely used by the blockchain industry, a proper understanding of the factors contributing to an airdrop's success is generally lacking. In this work, we outline the design space for airdrops, and specify a reasonable list of outcomes that an airdrop should ideally result in. We then analyze on-chain data from several larger-scale airdrops to empirically evaluate the success of previous airdrops, with respect to our desiderata. In our analysis, we demonstrate that airdrop farmers frequently dispose of the lion's share of airdrops proceeds via exchanges. Our analysis is followed by an overview of common pitfalls that common airdrop designs lend themselves to, which are then used to suggest concrete guidelines for better airdrops.

翻译：空投被区块链应用和协议用于吸引初始用户群，并随时间推移扩大用户规模。在许多空投案例中，代币会分发给特定用户，作为其与底层协议交互的"奖励"，其长期目标是建立一个忠诚的社区，在空投结束后仍能产生真实的经济活动。尽管空投在区块链行业被广泛使用，但人们普遍缺乏对影响空投成功因素的正确理解。在本研究中，我们勾勒了空投的设计空间，并明确了理想空投应达成的合理结果清单。随后，我们通过分析多个大规模空投的链上数据，依据我们的预期目标对历史空投效果进行实证评估。分析表明，空投农民经常通过交易所处置绝大部分空投收益。在分析基础上，我们概述了常见空投设计容易陷入的误区，并据此提出改进空投设计的具体指导原则。