Airdrops are used by blockchain applications and platforms 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 platform, with a long-term goal of creating a loyal community that will generate genuine economic activity well after the airdrop has been completed. 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平台用于吸引初始用户群体，并持续扩大用户规模。在许多空投案例中，代币被分发给特定用户，作为其与底层平台交互的"奖励"，其长期目标是创建一个忠诚的社区，在空投完成后仍能产生真实的经济活动。尽管区块链行业广泛使用空投策略，但普遍缺乏对空投成功因素的系统性理解。本研究首先勾勒空投的设计空间，明确理想空投应实现的一系列合理目标。随后通过分析多个大规模空投的链上数据，依据我们提出的期望标准对既往空投成功性进行实证评估。分析表明，空投农民往往通过交易所抛售空投收益中的绝大部分。在分析基础上，本文还梳理了常见空投设计容易陷入的典型陷阱，并据此提出优化空投方案的具体指导原则。