LION's DEN WEB 3 JOURNEY
SIMPLIFYING WEB 3 AND IT'S TERMINOLOGIES

Versatile professional with expertise in content creation, community engagement, and digital marketing within Web3 and tech ecosystems. Skilled in video editing, copywriting, and social media management, with proven success in building brand presence and fostering online communities. Driven to connect people, ideas, and technology through impactful storytelling.
Have you been wondering what Web 3 is all about? Well, I'll be your guide through the early stages of venturing into the Web 3 space.
Everything I'll be explaining here will be broken down into simple terms that even a 3-year-old child can understand. Yes, I enjoy simplicity, and I think that if you followed my teaching strategies, you would learn more and be on your way to earning your first money as I have.
Please beware, the Web 3 space is not a get-rich-quick scheme, You need to put in the time to get positive feedback from the space. All in all, I am living proof that one can get even as little as their basic needs settled just by involving themselves in productive activities before the big win comes.
Find Below our Road Map To Success: 👇🏿👇🏿👇🏿
ROADMAP THROUGH THE DEN
✨ Explaining the web (WWW)
✨ Simplifying web 12$3
✨ Advancement Of Defi (Explained)
✨ What are Cryptocurrencies
✨Blockchain and Types (Explained)
✨Difference between Coins &Tokens
✨What are NFTS
✨DEXs and CEXs Wallets (How To Use)
✨ WEB 3 Jobs
✨: Job Opportunities and Types
✨Dos and Donts of A Job Hunter
✨ Things to Consider as a Job Hunter
✨How to Navigate (Twitter, Discord)
✨Job Approaches
✨ Airdrops and Use Cases( Bridging And Swapping of Tokens)
I'll Start by:👇🏿
🎯 EXPLAINING THE WEB (WWW)
The world wide web is simply a gigantic network of information that you can access through the Internet. Imagine it as a giant web connecting millions and millions of computers and devices all around the world.
To get to a website, you use a special program called a web browser. It's like a magic tool that helps you see and interact with the web. You can use a web browser on your computer, tablet, or even your phone.
Once you open the web browser, you can type in the address of a website you want to visit, just like typing in a special code. The web browser then sends a request to the website, and the website sends back the information you want to see. It's like asking for a specific toy and having the website give it to you.
You can play games, watch videos, read stories, learn new things, and even talk to other people from far away. It's like having a big playground or library right on your computer or device.
Hope the above explanation has given you enough clarity.
Now let's proceed to the next:👇🏿👇🏿
🎯SIMPLIFYING WEB 1 2 AND 3
The world wide web (www), as we have learned above, has evolved tremendously in 3 stages. It all started with Web 1, then came Web 2 and now Web 3. I will break down each web advancement so that it's simple to understand.
WEB 1: Known as the "Read-Only Web," refers to the early days of the internet when it was mainly used for sharing information. Websites in Web 1 were static and could only display text and simple images. Users could read and consume the content, but they couldn't interact or contribute much to the web. It was like reading a book or a newspaper online.
WEB 2: also called the "Read-Write Web," brought significant advancements to the internet. It started around the late 1990s and early 2000s. In this version, websites became more dynamic and interactive. People could create and share content, like posting on social media, writing blogs, or uploading videos. Web 2 introduced user-generated content, social networking, and online collaboration. It transformed the internet into a platform where people could connect, communicate, and participate actively.
WEB 3: This is the latest version of the web, and is sometimes referred to as the "Decentralized Web" or the "Web of Trust." Web 3 is still in its early stages of development, and it's all about making the internet even more powerful and secure. In Web 3, people are exploring new technologies like blockchain, decentralized applications (dApps), and smart contracts. These technologies aim to create a more open, transparent, and user-focused internet. Web 3 is a world where users have more control over their data, can transact securely without intermediaries, and can trust the systems they interact with.
To sum it up, Web 1 was about reading and consuming content, Web 2 added interactivity and user-generated content however, you cannot claim ownership of any online content you produce since you lacked full control over it, and Web 3 is focusing on decentralization and user empowerment.
Web 3 holds the potential to transform the internet into a more inclusive and decentralized space where users have more ownership and control over their digital lives.
🎯ADVANCEMENT OF DEFI (EXPLAINED)
DEFI is simply Decentralized Finance and Now I believe you might be wondering what is the relationship between Web 3 and decentralized finance. So here, I will be giving you an example to help you remember.
EXAMPLE:
Cryptocurrencies plus decentralized finance plus Web 2 equals Web 3.
OR
Web 3 Equals Web 2 plus decentralized finance and cryptocurrencies.
Just as simple as this.
🌟WHAT IS DECENTRALIZED FINANCE (DEFI)
It refers to a new way of using and managing money on the Internet without the need for traditional financial institutions like banks. (FCMB, UBA, WEMA etc)
In traditional finance, when you want to save, borrow, or invest money, you usually go to a bank or a financial institution. They control and manage your money. But in DeFi, things work differently.
DeFi uses blockchain technology, which is like a special kind of computer system that keeps track of all the transactions. This technology allows people to use their money in different ways without relying on a central authority, like a bank.
DeFi aims to make financial services more accessible, transparent, and inclusive. It allows people from all around the world to participate in financial activities without the need for a traditional bank account. For instance, Once you get a Web 3 job, Your DEV or Boss sends you money through your wallet address and he remains anonymous.
However, it's important to note that while DeFi offers exciting possibilities, it also comes with risks. Since it operates in a decentralized manner, users need to be cautious and informed about the projects and platforms they use.
In summary, DeFi is a new way of managing and using money on the Internet without relying on banks. It provides opportunities for people to save, borrow, and invest directly with others.
🌟RELATING DEFI TO WEB 3
I will be explaining the relationship between DEFI and WEB 3, I hope this gives you some clarity.
One of the cool things about Web 3 is DeFi and DeFi is like a special kind of money that you can use on the internet. Just like you have piggy banks to save your coins, DeFi lets people save and use their money without needing a bank.
See, with DeFi, people can do things like borrow money, lend money, and even make investments, all using the Internet. They can do it without having to ask a bank for permission or wait for a long time. It's like having your special bank on the Internet!
Web 3 and DeFi work together to make everything more fair and transparent. They use something called blockchain technology, which is like a special kind of computer system that keeps track of all the money and transactions. This way, everyone can see what's happening, and it helps make sure that things are done fairly.
So, in Web 3, people can use DeFi to do lots of things with their money, like saving it, borrowing it, and even earning more money by investing it. It's all done on the internet, and it's making things easier and more accessible for everyone.
Isn't that fascinating? Web 3 and DeFi are opening up new possibilities for how we use money and do things on the internet. It's like a big adventure!
🎯WHAT ARE CRYPTOCURRENCIES?
Cryptocurrencies are like digital money that you can use on the internet. Just like you use Naira notes to buy things, cryptocurrencies are used to buy and sell stuff, but in a digital form.
Instead of having physical coins or notes that you can touch, cryptocurrencies exist only on computers and the internet. They are stored in something called a digital wallet, which is like a special place on your computer or phone to keep your cryptocurrencies safe.
What's interesting about cryptocurrencies is that they are not controlled by any government or bank. They use something called blockchain technology to keep track of all the transactions. It's like a big digital ledger or record book that shows who has how much cryptocurrency and when they send it to someone else.
Some people like using cryptocurrencies because they think it's more private and secure. When you use regular money, like using a credit card or cash, the transactions can be tracked. But with cryptocurrencies, it's more anonymous, which means people don't always know who is sending or receiving the money.
There are different kinds of cryptocurrencies, like Bitcoin, Ethereum, and many more. Each cryptocurrency works a little bit differently, but the idea is the same: to be a digital form of money that you can use to buy things or trade with other people.
So, in simple terms, cryptocurrencies are like digital money that you can use on the internet. They are stored in digital wallets, use blockchain technology to keep track of transactions, and are not controlled by governments or banks. It's like having your own special money that lives on your computer or phone.
🎯BLOCKCHAIN AND TYPES (EXPLAINED)
Simply put, Imagine having a special notebook 📝 where you keep a list of all your toys 🧸. Now, you share copies of this notebook with your friends. Whenever you get a new toy, you tell your friends, and they write it down in their copies.🧩 But here's the special part: all your friends check with each other to make sure they have the same list of toys. They compare their notebooks and discuss any differences until they agree on the correct list.
🔒 This is how blockchain works! It's like a shared notebook that keeps track of things. Instead of toys, it can keep track of money, information, or even pictures(NFTs)!
Everyone who has a copy of the notebook can see what's written and helps ensure it's accurate.
🌟TYPES OF BLOCKCHAINS
I've been so curious about the different types of blockchains out there. I tried understanding it but then, I never found anyone to simplify it to my cognitive level. So I decided to read up and then break it down, I hope this also helps you understand.
Let's dive in and explore the exciting world of blockchain technology!
🌐 PUBLIC BLOCKCHAIN: These are open to anyone and everyone. They are decentralized and transparent, allowing anyone to participate, validate transactions, and maintain the blockchain's integrity.
EXAMPLES:
🔍Ethereum (ETH)
🔍Bitcoin (BTC)
🔍Litecoin (LTC)
🔍Cardano (ADA)
🔍Dogecoin (DOGE)
🏢 PRIVATE BLOCKCHAINS: In contrast to public blockchains, private blockchains are restricted to a specific group or organization. They offer higher privacy and control over the network. Companies often use private blockchains
EXAMPLES:
🔍Hyperledger Fabric
🔍R3 Corda
🔍Quorum
🔍Multichain
🔍EWF Energy Blockchain
🔗CONSORTIUM BLOCKCHAIN: These are a hybrid of public and private blockchains. Consortium blockchains are governed by a group of organizations working together, sharing the responsibility of maintaining the network. They strike a balance between privacy and decentralization. 🤝
EXAMPLES:
Ripple (XRP)
🔍Hyperledger Sawtooth
🔍Enterprise Ethereum Alliance (EEA)
🔍B3i (Blockchain Insurance Industry Initiative)
🔍Corda Network
🌐 PERMISSIONLESS BLOCKCHAINS: Permissionless blockchains allow anyone to join and participate in the network without needing authorization. They provide an open and inclusive environment, ensuring no central authority controls the system. Bitcoin and most public blockchains fall into this category. 🔓
EXAMPLES:
🔍Bitcoin (BTC)
🔍Ethereum (ETH)
🔍Litecoin (LTC)
🔍Monero (XMR)
🔍Zcash (ZEC)
🔒 PERMISSIONED BLOCKCHAINS: Permissioned blockchains require participants to obtain authorization before joining the network. These blockchains are often used in enterprise settings, providing a controlled environment where only trusted entities can participate. 🔐
EXAMPLES:
Hyperledger Fabric
🔍R3 Corda
🔍Quorum
🔍Stellar (XLM)
🔍IBM Blockchain
🚀 Understanding the different types of blockchains opens up a world of possibilities! From global public networks to private collaborations, blockchain technology is shaping various industries🌍💡
🎯DIFFERENCE BETWEEN COINS AND TOKENS
A crypto coin and a crypto token are both types of digital assets that exist on a blockchain. However, there are differences between the two:
But First, I will be explaining what they mean.
🌟CRYPTO COIN: is also known as a digital currency that operates independently on its blockchain. It is typically used as a medium of exchange or a store of value. Cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are examples of coins. These coins have their native blockchain networks, and their primary purpose is to facilitate financial transactions.
🌟CRYPTO TOKEN: A crypto token, on the other hand, is a digital asset that represents something else of value and operates on an existing blockchain platform. Tokens are created and distributed through Initial Coin Offerings (ICOs) or Token Generation Events (TGEs). They can serve various purposes such as accessing a product or service, representing ownership in a company, or representing a specific asset. Examples of tokens include ERC-20 tokens on the Ethereum blockchain like Basic Attention Token (BAT), Chainlink (LINK), and Tether (USDT).
🌟DIFFERENCES:
Infrastructure: Coins have their independent blockchain networks, whereas tokens are built on existing blockchain platforms like Ethereum, Binance Smart Chain, or others.
Purpose: Coins are primarily used as a medium of exchange or a store of value, while tokens can serve various purposes such as access rights, utility within a platform, or representing ownership in an asset or company.
Blockchain Dependency: Coins operate independently on their own blockchain, while tokens rely on the underlying blockchain platform's infrastructure and protocols.
Creation: Coins are typically created through a process called mining, where new coins are generated through computational algorithms. Tokens, on the other hand, are created and distributed by a centralized entity through ICOs or TGEs.
Interoperability: Tokens can interact with other smart contracts and tokens on the same blockchain platform, enabling the development of decentralized applications (DApps) and the creation of token economies.
Understanding the terms "Coins and Tokens" is very important as you'd be encountering them in this Web 3 journey. They can also be used interchangeably but knowing their distinction will help you understand the different roles and functionalities of digital assets in the blockchain ecosystem.
🎯WHAT ARE NFTS?
NFTs also known as Non-Fungible Tokens, are like special digital collectibles or unique items that you can own on the internet.I like to call them unique artworks. Let's take for instance When we talk about regular money, like a dollar or naira note, every naira note is the same, and you can exchange one for another without any difference. That's because they are "fungible." But NFTs are different because each one is unique and cannot be exchanged on a one-to-one basis.
Imagine you have a toy, like a really special toy that no one else has. It could be a rare action figure, a diamond crown, or even a Barbie doll. This toy is so unique and special that it makes you feel proud to have it.
Now, imagine that instead of a physical toy, this special thing is a picture or a video that you can see on a computer or tablet. It could be a picture of a cute cat or a video of your favorite cartoon character doing something funny.
NFTs are like digital certificates that say you own that special picture or video.
Some people think NFTs are fun and valuable, just like having a rare and precious toy. They can buy and sell NFTs to show off their special things or even collect them like you collect your favorite toys.
Finally, It's like having a special ticket that shows it's yours and nobody else's. Just like you can show your friends your favorite toy and say, "Look, this is mine!", you can show your NFT and say, "Look, this special picture or video is mine!"🎯DEXs AND CEXs WALLETS (How To Use)
I will be explaining DEXs and CEXS most understandably. Here we go:CEX (Centralized Exchange): A CEX, or centralized exchange, is like a traditional bank or a marketplace where you can buy, sell, and trade cryptocurrencies. It's called "centralized" because there is a central body or platform that manages and controls the exchange.
To use a CEX, you typically need to sign up and create an account. You'll provide some personal information and follow their verification process. Once your account is set up and verified, you can deposit your regular money, like naira, dollars, or euros, into your account.
With that money, you can then buy cryptocurrencies like Bitcoin or Ethereum.
The CEX will match you with other people who want to sell or buy cryptocurrencies, and they will carry out the transaction. You can also sell your cryptocurrencies for regular money and withdraw it back to your bank account. Easy Peasy!
Examples of CEXs are: Binance, Bybit, OKX etc
You will learn more as time goes on.DEX (Decentralized Exchange): A DEX, or decentralized exchange, works differently. It operates on blockchain technology and doesn't rely on a central authority to facilitate trade. Instead, it allows people to trade cryptocurrencies directly with each other using smart contracts.
To use a DEX, you need a digital wallet that supports the DEX platform. You have full control over your funds, and you don't need to go through a verification process as you do with CEXs.
When using a DEX, you connect your wallet to the DEX platform and trade directly with other people. Smart contracts ensure that the transactions are secure and transparent. You can trade one cryptocurrency for another or even participate in things like liquidity pools or token swaps.
DEXs are favored by those who value privacy, security, and control over their funds. However, they may have less liquidity and fewer trading options compared to CEXs.
When using either a DEX or CEX, it's important to do your research and understand the platform's fees, security measures, and user reviews. Always be cautious and ensure you're using reputable exchanges or platforms.
🎯WEB 3 JOBS
Although there are many ways to make money in the space our only focus will be on Web 3 jobs.
Crypto jobsDefi jobs
NFT jobs are all Web 3 jobs.
Jobs available in projects established with the use of cryptocurrencies and blockchains are known as Defi Jobs. (primarily on the Telegram app)
NFT jobs are employment opportunities in projects that use blockchains and cryptographic assets to function.
(mostly on the Discord app)
• Some Job opportunities in the space are?
1. Web/BLOCKCHAIN developers.
2. User interface/experience (UI/UX) designer.
3. community manager.
4. Moderator
5. Social media manager.
6. Alpha callers.
7. Collaboration manager.
8. Ambassadors.
9. Content strategist.
10. Graphic designers
🎯DOs AND DONTs OF A JOB HUNTER
I remember how appalling it was for me to see the terrible mistakes Job seekers made each time I entered a project server. Here is a list to guide you through:
🔍Do not open a ticket immediately after you join a server, especially when you want to apply for the position of moderator.Stick around for a while before doing that.
🔍Never beg for a job, it makes them devalue your services.
🔍If you don’t know the appropriate pay to ask for when you’re asked what you’d like your compensation to be like, just ask them what their budget is for the position you are to occupy. If it’s too low, bid a bit higher.
🔍Never say what you are not asked about. This simply means don't talk too much. Be calm and maintain confidence. Send a message at a time to avoid spamming.
🔍If you are asked to work for a trial and you are not a newbie, the maximum you can work for should be 1-2 days preferably. But if you’re a newbie and you’re asked to work on trial, then work diligently to gain experience and add your assigned duties to your portfolio and expect no compensation for the time being.
🔍Never tell a dev you want to help him grow his community without telling him how exactly you are going to help grow his community.
🔍Never take a job, you cannot do. In whatever you do build credibility and remember, once you deliver on a job, you stand a chance of getting referred.🔍 Be sure to collect upfront payment and never advisable to accept post-mint payment because there is little possibility that mint would be successful.
🔍If you are asked about your previous experience, never say that you’ve worked on 10 prior projects and currently working on 5, even if you are,
It would make it seem like your attention is divided and you'd be distracted on the job.
🎯THINGS TO CONSIDER AS A JOB HUNTER
🔍Be confident when approaching a founder two things are bound to happen, Either a YES or NO.
🔍 Be Proactive
🔍Create a portfolio of all the jobs you get, be they paid or volunteer spots.
It makes it easier to secure future gigs and be honest in your dealings cause one lie begets another.
🔍Be a FUN Hunter.
An example ;
An event manager + mod
A marketing lead +mod
It makes them want to hire you because they see that you are offering more value than what a normal, boring mod they budgeted for can actually offer.
🔍Do not hesitate about your approaches.You want to open a ticket? Do it at once.
You would like to Cold DM a developer. Get to it.
You want to use the community approach? Get straight to it.
Your consistency will definitely bring results
🔍When you get a job,always give your best. Show commitment; this will get you recommendations for better jobs.
🔍Build relationships with the devs or founders and sometimes even with an active investor. Remember: Your Network is Your net worth. You’re building better recommendations for jobs for yourself.
🎯HOW TO NAVIGATE (TWITTER AND DISCORD)
There are many apps used to source for potential projects that can hire job hunters into available roles, but first we'd be focusing on twitter and Discord which is the two most important and then telegram would come in at a later practical class.
Written Navigation of the applications;🌟TWITTER; Twitter is a global application and a very powerful tool for job hunts.
Finding projects on Twitter depends on how well you can navigate it and how organized your Time LIne TL appears.
I’ll be listing out just two ways to find projects using Twitter.
🔍Hashtags.Playing with your hashtags is one of the easiest ways to find projects.
For instance..
#Nfts
#giveaways
#discord
#ethnfts
#defi
#solnfts
E.t.c
🔍Following and turning on the notification bell for Projects boards.
Some Twitter pages is solidly meant for instant tweeting on the latest or new projects to an ecosystem.
So following them would immediately give you info on newly launched or released projects.
Examples; searching for
@solanauniverse@Crypto_Dep
@Cryptolaxy
@alphariaxyz.Etc
Twitter is also the most used platform in the web 3 space, building a nice niche and branding your identity can also help you land Ambassadorial jobs, content creation, social media management and Business developer roles.🌟DISCORD APP:
Many web 3 projects often build their NFT communities on Discord. It is usually made up of channels and bots thst helps keeps the community in check.You can create a discord account by searching for it on your google play store, apple playstore or use the web version like I do. You have to input your phone number, email address and for extra security 2 factor authentication.
Once you get a new project on twitter, all you have to do is click on the discord link on their page and it will redirect you to the discord server, where you might need to verify yourself by clicking on your email address and complete a Capchat to confirm you are not a bot.
There are other applications used to job hunt, such as:🔍Launchpads: these are web applications where newly created projects either nfts or defi projects are listed.Either listed for presale, fair launch, minting(marketplace e.g open sea) ICO and the rest of them.
So you simply just check out any one you’d like,make a little research about it,go in their community and shoot your shot if you want to.
List of some Launchpads.
•Bscpad
•gamefi
•ICO drops.
And many more.
🔍Shill sites: They're either telegram or discord channels where projects are randomly dropped for investors to check out or for job hunters to look into.
You have to be very careful due to many rug projects on these shill channels.
List of shill channels 👇🏼
https://t.me/satoshistreetbets
🔍Job boards: ; (List of job boards)
prioritycrypto.jobs
jobprotocol.xyzhttps://apply.workable.com/claystack/j/3731f217b1/
🔍CMC & CG : Simply means Coin Market Cap and Coin Gecko Apps;
One way to use CoinMarketCap is by following this steps;
•Go to coinmarketcap.com
•Click on categories >> pick any ecosystem of your choice.
•Click on any token you want.
•check links
•shoot your shot in all communities
OR
•Tap on the icon on the top right hand side.
•tap on cryptocurrencies.
•Tap on recently added.
•explore the projects there.
•scroll down a bit on any project you’ve tapped on and you’ll see those socials below.
For better navigation I will be dropping a video on My telegram Channel.
🔍COINGECKO;
Same applies to CoinGecko.
Steps;
Where do you find jobs?
• Go to coingecko.com
• Click Categories, choose NFT or an ecosystem.
• Choose any project you’d like to look into,preferably with smaller trading volume or market cap.
• Go to their Twitter,or telegram and shoot your shot.
This is an extra site for you to job hunt, Yes feel free to thank me later:
https://raritysniper.com/nft-drops-calendarViola that's all for now and You then decide whatever approach you'd like to observe according to your intuition. Which brings us down to the job approaches.
🎯JOB APPROACHES
Types of approaches to land A Job:•Community approach
•Direct approach
•Service approach
•via recommendation
🔍COMMUNITY APPROACH;
Community approach/Active contributions.
The community approach is one of the best approaches to use,but then it takes a longer time and requires so much patience…so how to do this?👇🏼
You pick a project where you might have a chance to be hired..how do you know this?
1.Check how many workers/moderators they have. If they're 3-4 , there's still a good chance for you to try your luck.
2.check what the project is all about and find your special skills that soothes the role you are looking for.👇🏼
3. .if you can find a flaw there that you can solve like..inactiveness,lack of proper engagement,disorganization,etc.Then you can try the community approach by genuinely actively participating/assisting in the community for a few days.
4. You can also tag the dev to a reasonable question in the community by doing this he has noticed you and he would obviously respond to your questions. After doing this for few days then you can go to his dm and propose that he hires you.
🔍DIRECT APPROACH;
This approach are used mostly by persons who don’t have the time to play around the community. You either message them on Twitter,telegram or discord and you just get straight to the point as the name implies,
You spend 1 or 2 days in the community before going to the devs dm afterwards You can proceed by asking little questions about the project before chipping your proposals. It’s like the bossy approach..
Table what you can bring to the project and then spot out how you can assist their growth and development.
🔍SERVICE APPROACH;
This way you approach a project you’d like to work for and you spot out the flaws the has. You are not actively participating but you are going in as an investor.You point out the problems the project is having and give them reasons why all these flaws would affect the growth of the project if it’s being neglected.It’s a very good approach but using this, you have to spot an atrocious problem before offering your services.
🔍VIA RECOMMENDATION;
Not everyone can use this approach, you might need a good number of audience or portfolios to use this approach.
it’s easier to get jobs this way.
You can be recommended by devs you’ve worked for,friends or fellow workers. Easy peasy but here's tip you should try:
Recommend yourself
1. Enter into a community as an investor'engage for a day and spot a flaw
2.go to the devs dm and talk to him about it and then “recommend your other account that has been actively helping around the community “
All these approaches are tested , are trusted,you just have to put in the work and be consistent.
🌟WEB 3 JOBs ARE NOT YET SATURATED
But there are not as easy to get as it use to be.
Apply this in all your job hunts;
**1.**Out working the rest.
2. Out smarting the rest.
3. Out lasting the rest.
If you implement all that’s above 👆🏻 from the start,
Web 3 jobs will be easy and stress free for you to get.
🎯AIRDROPS AND USE CASES( Bridging And Swapping of Tokens)
A crypto airdrop is when people receive free cryptocurrency tokens or coins as a way to distribute them to a wider audience. It's like someone giving you a surprise gift of digital money.Let's imagine you're at a birthday party, and the host decides to give everyone a small present. In a crypto airdrop, it's similar, but instead of physical gifts, people receive digital tokens or coins.
Now, why would someone give away free cryptocurrency? There are a few reasons:
🔍Promotion: Sometimes, a new cryptocurrency project wants to spread the word and get more people interested. So they give away some of their tokens to create awareness and attract users.
Community Building: Cryptocurrency projects often want to build a strong and supportive community. By giving away free tokens, they can encourage people to join, participate, and contribute to their project.🔍Token Distribution: In some cases, a crypto project wants to make sure that their tokens are spread among many different people. By doing an airdrop, they can distribute the tokens to a wide range of individuals, making the ownership more decentralized.
When you receive tokens in a crypto airdrop, you can decide what to do with them. Here are a few use cases:
Hold and Wait: You can hold onto the tokens and see if their value increases over time. It's like keeping them in a digital piggy bank and hoping they become more valuable in the future.
🌟Trade or Sell: You can exchange the tokens for other cryptocurrencies or regular money on a cryptocurrency exchange. It's like trading your toy with a friend for a different toy or selling it to get some money.
🌟Participate in the Project: Some airdrops come with conditions or requirements, such as joining a particular community or using the tokens for specific purposes within a project. In this case, you can actively participate in the project or ecosystem that issued the tokens.
It's important to note that not all airdrops are valuable or legitimate, so it's wise to do your research and be cautious. Make sure to understand the project, the team behind it, and any risks involved before getting involved in an airdrop.
In simple terms, a crypto airdrop is like receiving a surprise gift of digital money. It can be a way for cryptocurrency projects to promote themselves, build a community, or distribute tokens. You can choose to keep, trade, or use the tokens in various ways, depending on your goals and the project's requirements.
🎯WHAT IS BRIDGING AND SWAPPING?
These are two concepts related to exchanging or moving cryptocurrencies between different blockchain networks or platforms.🌟Bridging: Bridging refers to the process of connecting or linking two separate blockchain networks, allowing assets or tokens to move between them. It enables interoperability and the transfer of tokens from one blockchain to another.
Think of it as building a bridge between two islands. The bridge connects the islands and allows people to move back and forth. Similarly, in the crypto world, bridging establishes a connection between different blockchain networks, enabling the transfer of tokens or assets.
Swapping: Swapping, on the other hand, is the act of exchanging one cryptocurrency for another. It involves trading one token for a different token at a predetermined exchange rate.Imagine you have a red toy car, and your friend has a blue toy car. If you both decide to swap cars, you give your red car to your friend, and your friend gives you the blue car. You exchange one thing for another. In the crypto world, swapping is similar but with digital tokens.
🌟Swapping can occur within a single blockchain network or across different networks using bridging. For example, you may want to swap your Ethereum tokens for a different cryptocurrency like Bitcoin or vice versa. In this case, you would use a swapping service or a decentralized exchange (DEX) to make the exchange at the current exchange rate.
Bridging and swapping play crucial roles in enabling liquidity, flexibility, and access to different cryptocurrencies and blockchain networks. They allow users to move tokens between networks or trade one cryptocurrency for another, expanding the possibilities and utility of digital assets.
Finally, we have come to the end of the journey, and I hope I have been able to simplify and sum up what Web 3 entails to your understanding. I will be continuing the class by audio recording, as some of you might be better listeners than readers. It will leave a lasting memory in your mind, as well as visual representations of practical methods on how to navigate through the above-mentioned apps.
Remember, ACTIONS NOT WORDS.Written and compiled by LIONICE(Miracle John)



