Is "airdrop" the best token distribution mechanism?
Original source: Odaily Planet Daily
Original author: Huang Xuejiao
Recently, the currency circle is becoming popular This kind of success study: "Frying coins is good, not as early as wool", "Getting 3 airdrops this year is much better than frying coins for one year"...
Luo wool is originally a "zero-cost business" that small retail investors are keen to participate in, but after several epic airdrops in succession, these "coin circle workers" have won millions or even Tens of millions of excess returns, many "primary market value discoverers", "secondary receivers", "coin collectors" and other investors finally came to their senses, but most of them have missed "100 million".
Now, they are busy opening accounts, swiping transactions, trying to get a piece of the next airdrop.
But the question is, in a market where both project parties and investors are fully educated, will there be the next "100 million"?
The 4 major airdrops in the currency circle are throwing 900 million US dollars, how much did you get?
Linn (pseudonym) received 400 UNI and 600 UNI in the UNI airdrop in September and the 1INCH airdrop just past with one account respectively 1INCH made a net profit of nearly 20,000 yuan after selling coins.
There are hundreds of thousands of people (hundreds of thousands of addresses to be precise) who have obtained "windfall money" like Linn.
On September 17, after experiencing liquidity being robbed by farming projects such as Sushi, Uniswap, the leader of DEX, finally issued its own token UNI.
Unexpectedly, in addition to issuing coins and starting liquidity mining, Uniswap has also made a bold innovation - 150 million (accounting for 15% of the total) UNI will be airdropped directly to all historical users, liquidity providers and Uniswap surrounding socks (NFT token SOCKS) Buyer.
Among them, 100 million are given to all addresses that have interacted with Uniswap, a total of 250,000, 400 for each address; 49 million for all liquidity providers, starting from the day V1 went online; 220,000 for all users who bought socks.
Changpeng Zhao, the founder of Binance, defined the UNI airdrop as an "economic stimulus plan" of US$1,200 per capita
According to the data of OKLink, a total of 251,754 addresses in the airdrop received UNI airdrop. According to Etherscan data, the address that received the most UNI airdrops this time reached 1.15 million, and the second-ranked address received 910,000. Based on the high price of UNI at the time of $4, the two "wool heads" received the value respectively. The airdrops of 4.6 million US dollars and 3.64 million US dollars are really more than ordinary people earn through hard work in their lifetime.
Can you make money like this? And, make money like this!!!”For DeFi newcomers like Linn who received basic airdrops, they all feel sour Yes, "It turns out that I am close to earning 10,000 more and building an additional address."
"To be honest, I am only happy to receive the airdrop Then after a while, I felt that the gas fees spent on participating in liquidity mining came back. But after asking friends around me, they received much more, and it was uncomfortable again." Linn said frankly.
This wealth distribution rule has brought a huge impact on the currency circle, and its far-reaching impact we can only See you later.
But no doubt,Thisanti-"early concentration of bargaining chips" method, the experiment of distributing project dividends to the community at zero cost has been realized< span style="font-size: 16px;">An effect of universal participation and spontaneous dissemination, which made UNI not decrease but increased after being circulated on the exchange, which really taught a lot of new projects a lesson. Later releasedGRT, LON and 1INCH all follow this pattern.
The picture shows the rules and scale of the four major token airdrops compiled by Odaily Planet Daily, from which we can see that the airdrop must be punched What are the operations.
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1. The scale of the four major airdrops, what is the difference between 100 and 20 million?
UNI, the largest DEX in the DeFi world - the platform currency of Uniswap. This airdrop has given 1.5 to 250,000 addresses 100 million tokens, accounting for 15% of the total amount of initial tokens, based on UNI's price of USD 4 on the day, worth USD 600 million, the most "tough" among the four major airdrops s project. The single address that received the most airdrops reached 1.15 million, worth 4.6 million US dollars.
GRT, blockchain data indexer, the representative of the Graph known as "Google on the chain" currency. The scale of this airdrop has not been disclosed, but judging from the voting rules, it is not as sunny as several other projects. But if you can get it, it is a lot of money. Some community members said that eligible addresses can receive up to 33,000 coins, and more can receive 2 million coins, which is worth $300,000 based on the GRT price of $0.15 on the day. If you keep it until it soars and then sell it, the value can increase by 5 times, reaching 1.5 million US dollars.
LON, the platform currency of Tokenlon, the built-in exchange of imToken, the largest Ethereum wallet. This airdrop accumulatively distributed 15 million tokens to nearly 290,000 addresses, accounting for 7.5% of the total tokens. Based on the current price of LON at $3, the value is $45 million. It is the airdrop with the most "sunshine" but the lowest value among the four airdrops.
1INCH, the platform currency of 1inch, the largest transaction aggregator. A total of 90 million tokens were distributed to about 55,000 addresses in this airdrop, accounting for 6% of the total tokens. Based on the current price of 1INCH of USD 2.5, the value is USD 225 million. Among the four major airdrops, it may be the creation of rich and poor The one with the biggest gap. According to data from the on-chain data analysis website Dune Analytics, the address receiving the most airdrops has reached 9.75 million, worth 20 million U.S. dollars based on 1INCH exceeding 2 U.S. dollars on the day.
According to calculations, the combined value of the 3 airdrops of UNI, LON and 1INCH has reached 8.7 US dollars, plus GRT, close to 900 million US dollars should not be a problem. This may be the best "gift" that the currency circle has brought to workers this year after liquidity mining.
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Let's experience this "worker" who got rich by airdrop, it feels like winning the lottery
Uniswap's airdrop is a "sunshine system", which can be obtained through interaction, and the value of a single-account airdrop is about 1,600 US dollars.
Because of taking care of imToken's huge old user base, the LON behind only has transactions or participation Only the address of Genesis Mining can be voted on.
The next 1inch, although the airdrop value reaches 1500 US dollars, but the number of addresses It has been reduced to 55,000 pieces, and only old users who have generated transactions and active new users can get airdrops.
In short, after experiencing various complex psychological activities, more "coin circles" who did not receive airdrops or only received basic airdrops The workers" began to work hard.
Right now, a random airdrop message in the group can attract dozens of inquiries, although many people have never heard of this project, or even know Which public chain is it on. "Never mind it, get in the car first and then talk."
The amount of "retaliatory" swiping by workers
On the day of the coin issuance, in 1inch’s Telegram group, few people paid attention to the upcoming liquidity mining, and what people cared about was Mooniswap (another DEX made by 1inch) whether to issue coins, how to get airdrops, and so on.
After repeated misses, the people in the classical currency circle were finally beaten With a shot full of chicken blood, they began to sweep all the potential projects that had not issued coins, and secretly vowed that they would never let the "missing 100 million" thing happen again. Wang Chao, a partner of Bitpie, set a flag in the circle of friends, "I plan to get a thousand addresses, one project at a time."
I won't say this is my colleague's account
The first batch of "mopping up" is the top of the Ethereum DEX and lending, wallet and other projects, such as Matcha, dYdX, MetaMask Swap and so on. Click to view inventory
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DeBank data shows that on December 26, the number of 24H transactions on the decentralized exchange Matcha increased by more than 300 compared to December 24 %, the number of users in 24H increased by nearly 390% compared with the 24th; the number of users of the decentralized derivatives exchange dYdX in 24 hours increased by more than 400% compared with the 24th; The daily increase is more than 12 times.
It can be described as "running into the whole network, The increase is 4 times a day."
After ambushing these top projects on Ethereum, the hard-working currency circle workers continue to look at the world, Experience everything from TRON to Pokaldot projects. Even the OK public chain and the Huobi ecological chain seem to be stepping up their launches to welcome this wave of "experience bonus".
A hard-working worker used as many as 30 operations to gather wool
Now, the airdrop bonus in the group is still there Continuing, I believe that the number of public chain addresses with referendums this month can draw a steep trend line.
The various airdrops in the group can no longer be received
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“Get rich chicken soup has become my motivation"
"Now, whenever a colleague says what he is playing, everyone will lean over to listen, for fear of missing the next 1INCH." Simon, the currency circle operation specialist, said to me dumbfounded.
No matter where you go these days, Simon can always see the heart-stirring "Chicken Soup for Getting Rich", which is what makes this usual The reason loafers turn into crazy wool parties. "The boss said that we are obsessed with money. But after all this, who dares to underestimate these opportunities?"
Airdrop to get rich has become a selling anxiety in the currency circle.
On Bihu, you can see posts similar to the one below being popularized by many netizens They scrambled to forward it, so that it was impossible to know who the source was.
Those who have seen airdrops to get rich this year are: 250,000 uni, 78,000 1inch, 260,000 grt, each worth 560 million, 1.01 million, 1.18 million.
If you have the strength to receive Pinduoduo’s red envelopes, don’t TM hack all day long, the airdrop in the currency circle really tells you that the money is blown by the wind .
It’s still the old saying: God rewards hard work, more pits, there may not be wool, and absolutely nothing if you don’t! Don't miss every opportunity. Some projects don't look good, but they may be big ones. We need to occupy more holes, register more, participate more, don't let go of every wool, and strive not to be a worker in the coming year!
Of course, chicken soup belongs to chicken soup. As the story of getting rich has been forgotten, most people have slowly withdrawn from the "daydream", thinking about whether the project party will still give out red envelopes under the massive invasion of the Wool Party?
After all, "If there are too many people, you will get less, which is not interesting." On the other hand, many of the workers who went to the airdrop did not have the belief in holding currency, and most of them sold it when they went online. Create an "airdrop legend".
Some people are hesitating, what’s more, they have already served the wool party poisonous chicken soup,For example, this Bihu Up master @firmament is straightforward Said:"In the future, this kind of airdrop will make a fortune, but 80% or 90% is not you, you are just wasting gas."< /p>
The reason he gave was, "The airdrop after UNI basically depends on the background data. 1inch requires 4 transactions or more than $20 for the new address. It is a primary anti-crowding mechanism. The really good is the large ETH holders. They don’t have to worry about gas fees. They not only participate in transactions but also provide liquidity pool mortgages. One address is equal to the total amount of hundreds of qualified airdrops.”
In addition, although most of the wool is 0 Cost or low cost, but sometimes it may end up "losing the wife and losing the army".
@firmament reminded, " Don’t mess around with projects you don’t understand, such as loan mortgages and contract options Complicated types of operations, the threshold requirements are very high (there is a minimum deposit requirement); small retail participation is usually excluded, and large funds are used to borrow money to gamble in it. Generally, the initial operation starts at a hundred dollars, and the gas fee for back and forth friction transfers is at least several hundred. If you do not issue coins in the short term or issue a small amount of coins in the later period, the probability is that you will lose money.”
So, he advises netizens, "Don't be envious of airdrops. The early players who got airdrops before had to buy and sell because of their own trading needs. After this round of airdrop craze has passed, it is still those top DEXs that really have trading needs."@firmament's implication is that most of the airdrops that migrant workers work hard for may be useless.
What will the next super airdrop look like?
Actually, no one knows whether there will be another one after these four super airdrops.
If there is, the project party must also learn from the experience and lessons of the predecessors. For example, we talked about adding an anti-crowding mechanism above, what else? Let's take a look at the shortcomings and possible improvement directions of the four major airdrops.
First of all, the common problem with these airdrops is that some eligible addresses seem to be missed in the statistics. For example, in the UNI airdrop, Using other tools (such as Dharma, etc.) to interact with Uniswap caused controversy when 12,000 addresses were not airdropped. Dharma added airdrops in October Initiated Uniswap Proposal No. 2, but everyone knows that the governance threshold of Uniswap is quite high, and this $20 million dispute does not seem to be easy to resolve.
In addition, the above-mentioned anti-crowding mechanism is not perfect. According to Odaily Planet Daily, some Uniswap users have multiple addresses, just for the convenience of bookkeeping, one transaction for one account, such users enjoy hundreds of address benefits, do you think they are rewarding "real users?" ?
In terms of improving the airdrop rules, in just one month, we have seen the upgrade of the four major airdrops—the improvement of Tornado.cash experiment.
On December 18, the Ethereum privacy trading platform Tornado.Cash announced the launch of the governance token TORN and airdropped it to users. The scale of the airdrop is small, 500,000 TORN (accounting for 5% of the total tokens), the highlight lies in its investment rules.
According to the official blog, the number of airdrops obtained is mainly determined by the "deposit amount" and "deposit time". Earlier deposits and larger deposits will receive More airdrops, but also limited accordingly.
The figure below shows the token coefficients that can be received for different deposits (1 represents 1 share). It can be seen that Tornado.Cash prevents the monopoly of giant whales. A user with a quantity of 100ETH is only twice as likely to receive an airdrop as a user with 1ETH.
The "deposit time" is calculated according to a formula, friends with high numbers can study it carefully.
Undoubtedly, after all, compared to liquidity mining quickly becoming a game for big players, airdrops seem to be more beneficial to reward early adopters, builders, market promotion, spread chips, and Realize joint construction. Therefore, we believe that the super airdrop and its upgraded version will continue.
I still remember the day when 1INCH issued coins, there was chaos in the group, and some Those who said they deserved it but didn’t get the airdrop also urged Mooniswap to issue coins, so much so that one user sighed like this.“The airdrop hurt the market more than it helps. "Of course, you can say that this is the sourness of those who have not received the airdrop lamenting the "grapes that cannot be eaten".
We have also seen that there is indeed some precipitation. We used to be timid about DEX, but today we are all "really fragrant". The trading volume of DEX has repeatedly broken new highs. In the new year, Planet Daily sincerely hopes that the DeFi community will become more and more prosperous. the better.Original text Link
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