Researchers have identified key factors in airdrop design through a comprehensive analysis of over 2 million airdrop events across 40 protocols, such as the quantity of tokens distributed and the target recipients. Their findings suggest that airdrops targeted at core users with smaller token quantities tend to show higher price stability and engagement post-distribution, challenging the effectiveness of widespread, larger airdrops.

The quality of token launches has declined significantly due to new stringent exchange requirements demanding high user metrics prior to listing, which has led projects to focus on generating inflated user activities through point systems rather than organic growth. This shift has resulted in an airdrop farming culture where users engage not out of genuine interest but to earn rewards, leading to rapid sell-offs post-launch and damaging the overall market dynamics and the perceived value of new tokens.