As cryptocurrency continues to attract an increasing number of individual and institutional investors, new projects are launched every day. These projects aim to offer potential investors more choice and take advantage of the boom in the crypto market. One such project is Terra.
What is the Terra network?
Terra is a public blockchain protocol that positions itself as a leader by offering a competitive programmable way of transacting, as well as logistics, simplifying decentralized app usage, and stablecoin development. In addition, Terra has a keen focus on interoperability, as evidenced by the network’s ability to operate on several chains. Luna is the native coin of the Terra network. The Luna coin can boast of ranking among the top cryptocurrencies in terms of its market value.
What are Terra airdrops?
In the simplest language, airdrops are free money. In the crypto world, airdrops are freely issued newly-launched crypto coins that are given as rewards to specifically identified members of a blockchain network. When it comes to the Terra network, the holders of the LUNA token receive Terra airdrops. So, simply put, a Terra airdrop is a free token distributed to a LUNA stoker. Terra airdrops could be viewed as additional rewards for those holding the tokens of the Terra network. They are common dividend payouts, not in fiat currencies but as airdrops.
Why the distribution of Terra airdrop?
If you want to learn more about Terra airdrops, you should visit their website for a detailed explanation of the topic. This will enable you to be aware of how you can take advantage of free tokens to build your crypto holding and wealth.
However, you may be wondering why the Terra network issues Terra airdrops. Below are some of the reasons for the distribution of the free tokens to LUNA stakers:
- New protocols launching on the Terra network can disburse Terra airdrops to reward loyal users for holding their LUNA tokens.
- Terra airdrop distributions can be used to create awareness of the various Terra ecosystem protocols. In the process of claiming native airdrop tokens, the chances are that you will learn about those new protocols and give their projects a try.
This makes Terra airdrop distributions a win-win for both stakers and the various projects. The holders get free tokens, while the projects create more awareness and attract new users.
Where can the stakers claim Terra airdrop?
Since every holder or investor in various Terra projects would like to increase their holding and thus have more wealth, they will want to know how to claim their Terra airdrops.
During your direct interactions with Terra network protocols, you will probably find that they prompt you to claim your free Terra airdrops. Alternatively, various platforms exist to help you know the Terra airdrops you are eligible to claim. For example, Terradrops.io is an excellent platform that allows you to track all the airdrops you qualify for in all the Terra protocols. Even better, they show you the airdrop’s value and offer a ‘Claim All’ function. Another similar platform that can help you is Terra Smart Stake.
Terra airdrops allow you to earn free tokens while the various protocols get the awareness they need and attract new users to their projects. You can claim your tokens by following prompts by nudges by different Terra protocols or using other platforms to find out the airdrops you qualify for. However, you should only claim them if their value is higher than the transaction charges.