Exodus's position on airdropped tokens, how to manage airdrops, and some popular networks for airdrops.
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In this article:
What is an airdrop?
An airdrop is a free distribution of crypto assets on a set of blockchain addresses. Companies and protocols airdrop tokens as a way of marketing their new token.
There are no fixed rules regarding who may receive airdropped assets – each company defines the parameters of its airdrop.
In most cases, there is nothing to do on your side to receive an airdrop. A token distributor does not need anything other than your blockchain asset address to airdrop tokens.
If you know an airdrop is going to occur, the first thing you'll need to do is to check the distribution rules. Who will receive the tokens? How many tokens will be distributed? Is there a registration process? When will the snapshot occur?
Some airdrops are scams or phishing attempts, so it's a good idea to thoroughly research any airdrops you wish to claim.
Does Exodus support airdrops?
In general, Exodus does not support airdropped tokens.
However, if the airdrop is on one of these networks, you may be able to add the airdropped token as a custom token. You can send, receive, and store custom tokens in your Exodus wallet. For more information, visit: How do I add a custom token?
Exodus has criteria for listing an asset so newly created forks and airdropped coins will probably not be supported at launch. This means that any airdropped tokens received at your address will not display in your Exodus wallet.
While we cannot vouch for the safety or security of any third-party platforms, it is possible that you could access airdropped tokens in another wallet. You could do this by importing the asset's private key into a wallet that supports the airdrop. Note that this has the risk of exposing your private keys.
If a wallet does not support importing single private keys, you might need to import your 12-word secret recovery phrase, which is not recommended.
No other wallet is associated with Exodus, and as such, we cannot guarantee you will be able to access your airdropped tokens. Always be sure to personally verify the authenticity of any third-party wallet, website, or application.
How do I stay safe when accessing airdrops?
We advise moving any assets that have scheduled airdrops out of Exodus and into a supported wallet before the airdrop snapshot.
After the snapshot has occurred, your assets can be moved back to Exodus. This allows you to participate in an airdrop while keeping your Exodus wallet safe.
You can still access your airdropped coins after the snapshot has taken place. You can do this by importing either your private key (preferable) or your 12-word secret recovery phrase (only if necessary) into a wallet that supports the airdropped token.
In order to avoid any risk to your funds, you can follow these safety precautions:
If the third-party wallet supports importing a private key, then we recommend you first move all of that specific asset into a new Exodus wallet or portfolio, then import the asset's private key.
For example, if you receive an airdrop to your Cosmos (ATOM) address, first move all your ATOM into another wallet. Then you can safely import your ATOM private key into a third-party wallet without compromising your funds.
If the third-party wallet only supports importing a 12-word secret recovery phrase, then we recommend you permanently move all of your assets into a new Exodus wallet.
You can find a guide on moving your funds here: How do I delete my wallet and start over?
After your assets are safely in a new wallet, you can then import your secret recovery phrase into another crypto wallet without compromising your funds.
If you would prefer to leave your tokens in Exodus, there is nothing wrong with storing airdropped or forked coins in your wallet. You are in full control of your private keys and secret recovery phrase. If the tokens end up being valuable, you can access any tokens you've received at a later date.
Assuming you qualify for an airdrop distribution, the airdropped token will be sent to your ETH address, but you will not see it in Exodus. The token will be stored at your wallet address.
For Ethereum-based (ERC20) assets, you can confirm your token balance on block explorer such as Etherscan.
a) Paste or enter your ETH address in the search bar, b) click on the ERC20 token dropdown. From here, c) you can view all your ERC20 tokens.
In order to access an airdropped token on the Ethereum network, you may be able to add it as a custom ERC20 token. You can send, receive, and store custom tokens in your Exodus wallet.
For more information, visit: How do I add a custom token?
Some EOS airdrops may have occurred on the Ethereum network before EOS swapped to its own mainnet. In this case, you would see the token on Etherscan as explained above. Assuming you have registered your EOS address prior to the mainnet migration, you will receive EOS tokens in your EOS account.
In order to access an airdropped token, you will have to use a dedicated EOS wallet able to support the token.
TRON launched its own blockchain network in mid-2018 which supports airdrops. Any airdropped tokens that you qualify for will be received and stored at your Exodus TRON (TRX) address. However, since Exodus doesn't yet support custom TRON tokens, you won't be able to manage them in Exodus.
You can access TRON airdrops by importing your Exodus TRX private key into a wallet that supports the airdrops, however, you do so at your own risk. Most airdrops are worth very little and often not worth the risk of exposing your private keys.
You can find dedicated TRON wallets on the TRON website here.
For more information on eligibility for XRP-related airdrops, please see our article about the Flare network. Since Exodus doesn't yet support custom XRP tokens, you won't be able to manage them in Exodus.
The Flare network and the XRP network are different blockchains, but due to their agreement, you were able to register your XRP address to receive your Flare network Spark tokens. The registration of other airdrops, such as Sologenic, is not supported and can't be completed with your Exodus wallet.
ATOM holders and stakers who qualify for any ATOM-related airdrops will receive the airdropped tokens directly to their ATOM addresses in Exodus.
There are various airdrops that eligible ATOM holders and stakers can claim. It's important to research the eligibility requirements for the specific airdrop you're looking to qualify for.
It's worth noting that Cosmostation is one wallet that's widely used for claiming ATOM-related airdrops.
You can find Cosmos's list of Cosmos wallets here.
LUNC holders who qualify for any Terra-related airdrops will receive airdropped tokens directly to their Terra Classic address in Exodus.
It's important to research the eligibility requirements for the specific airdrop you're looking to qualify for.
For a list of alternative LUNC wallet options, please see the official Terra Ecosystem wallet list.