Airdrop feast: the embarrassment of the wool party’s carnival project

At the moment when the “wool party” team is growing, airdrops mean that a large number of rewards are “sucked” by external users. Without airdrops, it is difficult to achieve the effect of motivating and rewarding early loyal users.

How to deal with the disruption of the “Wool Party” will increasingly test the wisdom and structure of the project team.

Recently, the airdrop craze has revived, and it has even become synonymous with “get rich” in the eyes of many crypto users.

At 23:00 on September 8, the decentralized derivatives trading platform dYdX lifted the governance token transfer restriction period, and the 50.3 million tokens DYDX received by 30,290 users can be listed and traded. For a time, the myths of all kinds of big airdrop players spread in the WeChat group. One of the screenshots about “the old horse of the miner brushed 800 numbers” attracted a lot of attention and reposts.

The subject of the screenshot, Lao Ma, told the chain catcher that the accounts he interacted with were indeed in the order of “hundreds”, but there were not as many as the rumored 800.

There are rumors of big airdrops, which also reflects that the phenomenon of users registering multiple addresses for airdrops is becoming common, and there are signs of further intensification. And along with the myth of speculators’ wealth creation, there are also doubts about the fairness of project token distribution.

The cost of a single address is 200-300 US dollars, mostly manual operation

Earlier this year, Qian Xin used 43 accounts to interact with the dYdX platform. In September, he received a total of 45,000 DYDX token airdrops, which are worth nearly 510,000 U.S. dollars based on today’s price of 11.3 U.S. dollars. Coupled with the rewards for participating in transaction mining, he holds a total of 140,000 DYDX tokens in his hand.

Qian Xin is a “professional account” for airdrop interaction. At the end of 2020, since Uniswap pioneered airdrops, the aggregation trading protocol 1inch also released large-scale token airdrops. Qian Xin felt that it was “a trend” at the time, so he developed the habit of regularly watching projects every month and selecting projects in batches. Every month, Qian Xin will look at 20 to 30 projects, and finally screen out two or three projects according to his own standards for interaction.

Qian Xin prepared roughly 5-8 ETH (calculated at a price of approximately US$1500 at the beginning of February, which was valued at approximately US$7500-12000) for the dYdX interaction . The specific operations of the interaction include: recharge, open a contract, and withdraw money.

“At that time, one account was transferred 1 ETH. After one ETH was swiped up, some fees were consumed. For example, there was 0.6 ETH left, and then 0.6 ETH was transferred to the next account, and the next account was operated like this. , finished roll number is how much. “Qian Xin said early dYdX only on-line Ethernet Square, the main network, wound up a cost account interaction of up to $ 200-300.

Qian Xin said that all his airdrops are manual operations. “Just like operating an account, there is no shortcut to operating all these accounts,” he said.

He usually teamed up with another partner in partnership and worked on different projects separately. In addition to dYdX, they also interacted in batches with the DEX aggregator Matcha project and the swap function of the Matemask wallet. The former has interacted with more than 100 accounts and the latter has swiped more than 400. Up to now, neither of these two projects have issued airdrops. When the operation reached dYdX, Qian Xin said that he was “satisfactory” and completed all the interactions in half a day.

There are not a few people like Qian Xin who regularly check the volume, and most of the interviewees do it manually. Shuaishuai has the habit of interacting with new projects in 2020, but the multi-account operation started this year. In this dYdX interaction, he used 27 accounts and finally received about 31,000 DYDX in total.

As the leader of the derivatives track, dYdX has always been a favorite of airdrop enthusiasts, so the number of airdrops this time is quite considerable. According to dYdX official statistics, more than 60,000 users of this airdrop are eligible to receive the airdrop, and the actual number of people issued is also more than 30,000. According to previous statistics from Chain Catcher, its nominal airdrop size is second only to ShapeShift, Uniswap, Ampleforth and 1inch, ranking fifth in history.

Is it detrimental to the fairness of token distribution, or respect the interests of “cybers”?

In the earliest Uniswap airdrops, since almost all users were unaware of future airdrops and used Uniswap due to their own actual transaction needs, the airdrops of the project were basically issued to precise users. However, as more and more users use items purely for the purpose of “pushing” airdrops, rather than actual use needs, this has also triggered many controversies over the fairness of airdrops.

“The market is always fair.” When asked whether he thought his airdropping behavior would affect the fairness of token distribution, Qian Xin replied. He believes that batch registration of accounts for project interaction is essentially no different from primary market investment. “The 200,000 cost of airdrops in the early stage may be zero, and the market will eliminate some people who dare not do this.” He said.

Da Shuo, the co-founder of DAO Square, said to the chain catcher: “Whether it is the normal use of a single account or the interaction of multiple accounts, I think it is legitimate.” It said that allowing accounts that do not require permission to participate in airdrop activities is in line with the spirit of Web3.0, that is, whether real people or robots are treated equally in the cyberspace.

However, a large number of project tokens are concentrated in the hands of individual “big households” due to the interaction of scalping, and its unfair distribution still raises questions from many users. For the project party, after the tokens are released from transfer restrictions, this part of users may sell on a large scale, which will affect the price trend of the tokens in the short term.

At the same time, the original intention of the project party’s airdrop is to reward early users, increase community activity and loyalty, and airdrop to multiple accounts of a single user. However, most of these accounts will most likely not be active in the future, and the actual incentive to pay a large amount of tokens The effect is limited.

As of press time, most of the several dYdX users interviewed by Chaincatcher have sold off to varying degrees. Qian Xin’s psychological price of DYDX is expected to be 20 US dollars. On the evening of September 9, he first sold 40,000 DYDX at a price of 15-16 US dollars to cover the cost of transaction mining. For the remaining 100,000 tokens, He plans to sell after the price rises to more than US$20; Shuaishuai “sold a part” of the tokens and said that he plans to hold the remaining DYDX for a long time.

Player Song Wuwei has used 14 accounts, and 9 of them have successfully received more than 10,000 DYDX airdrops. At present, he has sold half of the tokens, and the remaining part is planned to be held for a long time. At the same time, he said that he will participate in the governance of DYDX.

Airdrop “risk control”? Project preventive measures or overweight

The dYdX Foundation also made it clear that it will crack down on these users who are trying to gain empty investment positions through swiping, stating that “any accounts that seem to be clearly related to the robot activities that speculate about future airdrops are excluded from retrospective rewards.”

Shuai Shuai claimed that one of his accounts had been cleaned up. He added cash to the new account and accidentally clicked “Withdraw” when he had not yet made a transaction. The address was later judged to be a “robot” and was not eligible for the airdrop.

Lei Kang also brushed dYdX. He gave a friend of 100,000 yuan to ask him to help with the operation. The friend used an automated script to run 200 numbers, or because of similar behaviors and habits, the batch of numbers eventually encountered “risk control”. The accounts that Lei Kang manually interacted with eventually “survived” and received about 5000 DYDX tokens in total.

However, for airdropped “professional users”, they tend to pay more attention to IP addresses and operating methods, so it is difficult for the project team to find out. Qian Xin also paid attention to IP issues when interacting in batches. After interacting with 1-3 accounts, he would switch the IP once when completing the transaction. Lao Ma said that he would choose a regional IP that is more tolerant to the encryption market policy, such as Singapore IP.

With the huge manifestation of the wealth effect of dYdX airdrops, more and more speculators are setting their sights on unissued projects such as Zksync, Arbitrum , Opyn, etc., ready to use a large number of Ethereum addresses to interact and obtain potential airdrop opportunities.

Airdrop feast: the embarrassment of the wool party’s carnival project

Some communities even spawned airdrop activities

But this has further aggravated the embarrassment of the project party, which has also aroused the vigilance of more and more project parties. Synthetix ecological project and on-chain option agreement Lyra team member Domrom recently stated on Discord that due to the lower interaction cost of Optimism, many robot accounts have been found to conduct small transactions. “Airdrops like uniswap are too risky for us. We will not consider it.”

In response to some users’ swiping behavior, bxpana, the developer of the ethereum expansion solution zkSync, recently replied to users in the Discord community that any cheating users will lose the eligibility to participate in future activities. The team will use a variety of tools to conduct cross-checks, including IP checks, Various methods such as device ID checking and account behavior checking.

Airdrop feast: the embarrassment of the wool party’s carnival project

At the same time, some project parties have begun to try to adopt decentralized identity solutions, or have requirements for the type and frequency of address interactions, to ensure that users with higher identity authenticity receive higher rewards. In May of this year, when Gitcoin issues GTC airdrops, it will increase the airdrop weight for users who have completed Brigthtid real-name authentication. At the same time, users who log in more frequently, bind more social accounts, and have more behavior types can also get a higher airdrop weight. .

“Most of the resources on the chain are scarce. To solve the problem of fleeing wool, we must first realize the identity on the chain, but this is definitely not something that can be solved by an identity project on the chain. The identity on the chain can only be solved through a gamification mechanism. To solve it. In the game, we can only keep it ahead by putting resources into the same role. These resources include time and capital. The key word to solve fair distribution is accumulation. Time multiplied by capital is the extractable value. ” Shuo Xiang Chain Catcher said.

“The solution at the application layer is also DAOSquare’s DKP system. Like Rarity, it encourages users to accumulate points or experience points, and uses different types of DKP points as filtering conditions to help project parties complete multi-dimensional filtering. Application interaction, lock Warehouse tokens, Twitter retweets, Discord active, and holding a certain NFT are just different DKP points. When we add these conditions together, it is easy to find the real and unique user.” Dashuo said.

With the further deepening of the airdrop game, how to deal with the disruption of the “Wool Party” will increasingly test the wisdom and structure of the project team.


Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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