🆕Competitions / Airdrops

This feature is still in closed Beta! If you want to try it, please fill this form: https://forms.gle/zyKkwUVos2Y2LKcn7

What are Competitions?

Competitions are special X raid challenges which can be set up in RaidSharksBot. They run for a certain time or until a certain goal is met. Community members can participate and earn rewards. @RaidSharksBot offers various competition modes, allowing projects to airdrop whatever token they want to reward participants with.

Group owners and admins have the flexibility to customize these competitions by selecting different modes and criteria to suit their specific needs.

How does it work?

It´s as easy as it gets. Basically we only need two things...

1. A group Admin or Owner who uses RaidSharksBot and is willing to reward raiders. They can set up a Community Wallet in RaidSharksBot by following this guide. This wallet will serve as a wallet bound to that specific group. Whatever token is in there can be airdropped. They can manually send all EVM compatible tokens into that wallet and use them to create future competitions.

2. Users who participate in a competition. Those Users will be guided to set up a Private Wallet on first contact with your competition. Once they have set up their private wallet, these users will automatically receive whatever token is airdropped by a competition. Private wallets will be able to receive all rewards in all groups. So every user only needs to set it up once and he is ready to be rewarded in all groups doing competitions with RaidSharksBot.

What Tokens can be airdropped?

RaidSharksBot is able to Airdrop any Token (also your projects token) or natives on EVM compatible Blockchains (e.g. Base, Ethereum, Binance Smart Chain, Avalanche, Polygon). Solana Support is in the making and will follow soon! However, there are some things you should know... As airdropping your raiders will cost fees, we highly recommend to airdrop on a chain which has low gas fees. RaidSharks and Flooz will cover all Fees on Base Chain, so these airdrops are completely free of fees. Usually transfers on Binance Smart Chains also only do cost a few cents. But Ethereum might become a bit more "expensive" to process airdrops.

In any case (beside on base chain) airdropping your raiders will cost fees and therefore your community wallet should contain natives (Ethereum, BNB etc.) to cover those fees. Otherwise transactions may fail. Airdropping on ETH network will cost a bunch of fees - So think about airdropping on another cheaper Blockchain... As EVM compatible chains like ETH, Base or BSC share the same wallet addresses, consider to airdrop on a cheaper chain instead.

What problem does it solve?

The Competitions Feature by RaidSharks addresses the challenge of efficiently managing and rewarding large groups of participants in your ecosystem. By fully integrating into your platform, it automates the entire reward distribution process, including wallet setup, reward calculation, and airdrop execution.

Imagine you want to reward your top raiders weekly with airdrops of your native token. While manually handling rewards for a small group of 10 users might be feasible, doing so for hundreds or thousands of users becomes impractical due to the significant time and effort required to manage wallets and execute transactions manually. The Competitions Feature streamlines this process, saving you time and ensuring accuracy at scale.

How does that increase engagement?

Over the past year, we've observed a common trend in competitions: only a small number of participants receive rewards, while the majority are left empty-handed. This happens because manual reward distribution is cumbersome and impractical, leading most projects to focus on rewarding just the top performers (e.g., the top 10) and maybe adding a few lucky draws to keep things somewhat fair.

The Competitions Feature changes this dynamic by enabling projects to distribute rewards to all participants based on their individual contributions. This ensures a fairer system where everyone, even those who can only participate minimally, receives a proportional share of the rewards.

Conclusion

Isn't it better to have 200 satisfied participants than just 10 happy and 190 disappointed ones? That's exactly what the Competitions Feature helps you achieve! By making reward distribution fair and inclusive, it significantly boosts engagement and satisfaction across your community.