How to deal with airdropped tokens with Exodus

You should have received tokens on your EOS or Ethereum address in your Exodus wallet but you don't see it? Here is an easy way to check if you received the new crypto-currency and what to do with it.

An airdrop is a free distribution of crypto assets on a set of blockchain addresses. There are no fixed rules regarding who may receive airdropped assets – Each company defines how far and wide they want their airdrop to be. In most cases, there is nothing to do on your side to receive the airdrop.

Airdrops are a good strategy to generate interest and exposure to a particular asset. This also leads to increased exchange volume which generally leads to increased value for the token.

In the large majority of cases, airdrops occur over the Ethereum network. This is because Ethereum is among the only blockchains that can support a layer of distinct assets running atop its network (ERC20 tokens). However, airdrops over other networks can happen, such as over the BTC network (with the OMNI layer) or the EOS network.

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? Etc...

To be clear, for an asset to be airdropped to your address, the token distributor does not need anything other than your address. If an airdrop requires you to input your 12-word passphrase or your private key into a website, this is a phishing site trying to scam you. You must never share this information! Do your research thoroughly on any airdrops you wish to involve yourself in.

EOS is positioning itself as an ETH competitor and also hosts airdrops. The same rules apply. You only need your EOS address in order to receive your airdropped tokens. Once again, some companies may have set more specific rules.

In general, Exodus does not support airdropped tokens.

For Ethereum airdrops

Assuming you qualify for the distribution, the token will be sent to your address but you will not see it in Exodus. The token will be stored at your wallet address. For ETH-based (ERC20) assets, you can confirm your token balance on https://etherscan.io/ by pasting in your ETH address and checking the token transfer drop-down.

In order to access an airdropped asset on the ETH network, you will have to use a more advanced wallet like MyEtherWallet able to see and interact with your token. Here is a good guide: https://support.exodus.io/article/128-how-do-i-receive-unsupported-erc20-tokens

For EOS airdrops

Some EOS airdrops may have occurred on the ETH network before EOS swapped to its own mainnet. In that case, you would see the token on Etherscan as explained above. Assuming you have registered your EOS address prior to the mainnet migration, then you will receive EOS token in your EOS account. You can consult the airdrops on https://eospark.com/ by pasting your EOS address or account name and look at the drop-down.

In order to access an airdropped token, you will have to use a dedicated EOS wallet able to support the token. Here is a guide that explains how to access EOS with the SimplEOS wallet.

If you have any doubts, do not hesitate to contact us!