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Multichain DEX SnowSwap announces its airdrop campaign

2000 random participants who meet the criteria will receive the airdrop rewards that are due to be distributed from August 25th.

snowswap exchange airdrop
Image: SnowSwap

The up-and-coming AMM DEX (automated market-making decentralized exchange) platform SnowSwap recently announced its Airdrop Campaign, offering its community a means to become more involved with the project. 

SnowSwap is a decentralized exchange that aims to become traders’ popular choice by offering multichain functionality and major user experience improvements. The platform is currently under development on the Binance Smart Chain (BSC), with plans to expand to all popular blockchain networks after initial deployment. 

In a recent development, SnowSwap took to Twitter to announce the launch of its airdrop campaign for the native $SNO token. The campaign provides a means for interested users and followers to get access to the SNO token for free before its public launch. The airdrop is reserved for the trusted followers of SnowSwap’s Telegram group and Twitter account. To be eligible for the airdrops, the Twitter accounts of potential beneficiaries should have at least 50 followers and must be more than a month old. 

2000 random participants who meet the criteria will receive the airdrop rewards that are due to be distributed from August 25th. The joining reward for the campaign is 500 SNO, whereas the referral reward for users who bring in other participants is 50 SNO. 

Multichain Makes the Difference

Though similar in functionality to most DEXs out there, SnowSwap’s multichain features can be a game-changer in the world of DeFi. Every popular blockchain network has its own DEX facilitating the flow of assets within the network. But in the wider DeFi ecosystem, there is still no means for the seamless flow of assets.

For instance, Uniswap does not support BEP-20 tokens and Pancake Swap does not support ERC-20 tokens. Users who want to trade both ERC-20 and BEP-20 tokens are forced to use two different platforms. This creates a void in the ecosystem and makes it difficult for DEXs to reach the success level of CEXs (centralized exchanges). 

This is the problem SnowSwap claims to have the solution for. By incorporating the multichain functionality, SnowSwap believes it can open up new possibilities for traders and for DeFi projects listed on the platform. While traders can enjoy the comfort of trading tokens across blockchain networks from a single platform, token listers can benefit from being exposed to the wider DeFi ecosystem irrespective of what chain they deploy their project on.

SnowSwap also claims that by taking advantage of the unique features of various blockchain networks, it could circumvent problems like high gas fees, network congestion, and low throughput. The lack of liquidity will be tackled by providing aggregate fragmented liquidity from AMM’s of all networks. 

The platform has plans to build a full-fledged ecosystem consisting of an NFT marketplace, staking pools, predictions market, and lottery games, all centered around its native token SNO. All profits made from these platforms will be used to buy back SNO from the market, increasing its value over time. With a total supply of 1B tokens, the tokenomics of SNO are also uniquely designed to benefit all holders. The platform has a robust plan for burning and profit-sharing with 60% of the transaction fees being reserved for liquidity providers and token holders. 

DEXs are famous among traders for their decentralized, trustless, and permissionless nature. By optimizing these existing features and combining them with multichain functionality and cross-chain trading, SnowSwap is right on track to becoming the popular choice for traders across the globe. This newly announced airdrop campaign could be a good starting point for the platform to introduce its vision to the larger community of users before its official launch. 

Interested users can participate in the airdrop campaign by filling the form here

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Chris has been blogging since the early days of the internet. He primarily focuses on topics related to tech, business, marketing, and pretty much anything else that revolves around tech. When he's not writing, you can find him noodling around on a guitar or cooking up a mean storm for friends and family.

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