ENS airdrop myth: some college students received 2.78 million US dollars, some missed tens of millions

“Money comes from strong winds. If you feel tired of making money, then you have a problem.” I don’t know if there is a phenomenon of strong winds blowing money in other industries, but here in the blockchain, strong winds can indeed blow a lot.

Airdrops are a common behavior in the crypto world. Many projects will prosper and build ecosystems by issuing tokens to early users, developers, builders and other multi-participants for free. I still remember the airdrop of Uniswap , the world’s largest decentralized trading platform last year , which made the industry feel like a Chinese New Year. At the price at that time, it was also the level of an iPhone per capita.

This year’s carnival comes from a project called ENS.

It’s many years of OG projects in the industry, the Ethernet Square domain, since NFT picture can speak through the story yuan universe in that the Ethernet Square network closest to the real yuan universe, the domain name also represents the identity, but also has its own value.

And the wealth effect caused by this OG airdrop is really amazing.

There was a message circulating in the community: A Chinese community builder was successfully selected as an ENS contributor and received 46,000 contributor airdrops. The user is quite young. He is currently studying in a university and has not invested a large amount of principal in the crypto market. However, he realized financial freedom by “accidental” community construction, which has aroused the envy of a large number of investors.

At current prices, the price of an ENS is approximately USD 60, and the airdrop of 46,000 ENS is approximately USD 2.78 million.

As long as you have registered an ENS domain name before, you can get an empty investment card, and communities, contributors and other people involved in ecological construction can get a more substantial airdrop. The airdrop covered 138,000 addresses, which is another big carnival.

One of the reasons for this large-scale airdrop to get rich is the boldness of ENS, and the value of ENS is even more important. After all, if there is no market recognition, the price of ENS token can hardly reach the current high level.

ENS: Domain Name System in the Web3 Era

In the Web2 era, we usually enter domain names manually when accessing network services. This habit has been ingrained for so long that we almost forget about this: The domain name service has not appeared since the birth of the Internet.

In the era of the Internet, the communication between devices still relies on IP addresses. The four-segment, three-digit combination of numbers is still occasionally used by ordinary users, such as 192.168. when you set up a router. 1.1.

Every website needs to manually remember its corresponding IP address, which is almost impossible for users, and the emergence of DNS service has solved this problem. The DNS service binds domain names and IP addresses, allowing users to access a specific IP address through a letter combination that is easier to remember.

And when we enter the decentralized blockchain world, this function becomes even more important. Only a 12-digit IP address is inconvenient to use, what about a combination of numbers and letters up to 42 digits?

Recall the scenario where you need to enter the wallet address. Every time you confirm the address, you need to check up to 42 characters one by one. If you enter a wrong one, you will face asset loss. In contrast, in the Web2 era, whether it is a website address, email address, or account name, most of the regular Internet products we come into contact with only need a user-definable alphanumeric combination to accurately and conveniently find the desired address.

Although the concept of decentralization is very fascinating, in terms of user experience, Web3 is still far inferior to the basic services of the Web2 era. The birth of the ENS domain name has improved this problem to a certain extent and has provided the encryption world with services similar to DNS.

After using the ENS domain name, the user can resolve the customized example.eth to the corresponding Ethereum address. In the transfer, the .eth address is equivalent to the 42-digit Ethereum address. On platforms or tools that support ENS, such as OpenSea and on-chain browsers, the user address will also be directly displayed as an .eth address.

ENS airdrop myth: some college students received 2.78 million US dollars, some missed tens of millions

(Many celebrities in the encryption industry, including V God, set their .eth address as their Twitter name)

ENS provides an easier-to-use address and identity system for the crypto world. A large number of crypto celebrities have bound their wallet addresses to .eth addresses.

At the end of August this year, ENS officially announced that it will fully integrate DNS Namespace on Ethereum, allowing users to associate any “.com” domain name with an Ethereum address. The ENS service now supports most traditional domain names, such as .com, .org, .io, etc. Previously, only the .eth domain name could be correctly resolved in the on-chain transfer, which is no longer subject to this restriction. The wave of ENS domain names has even spread to the outside world. In August this year, the beer brand Budweiser bought “beer.eth” for 30 ETH .

Unlike traditional DNS domain names, ICANN has certified hundreds of service providers that provide domain name registration services and charge registration fees on the traditional Internet. On the Ethereum network, ENS is the most widely used domain name system.

Airdrop financial freedom, participation in the community will eventually pay off

Airdrops received financial freedom, this description may be a bit exaggerated, but among users who receive ENS airdrops, the amount of airdrops received by individual addresses is breathtaking.

Currently, the price of ENS is approximately US$60. At this price, how many assets did the users who received the most airdrops get? After checking all the airdrop receiving addresses, we found the addresses that received the most airdrops.

Data on the chain shows that a total of 6 addresses have received more than 100,000 ENS airdrops.

ENS airdrop myth: some college students received 2.78 million US dollars, some missed tens of millions

Among them, a contract address with the first four being “0xd7” may be the biggest winner of this airdrop. It obtained 1 million ENS, which is approximately 60 million U.S. dollars.

“0x3a” ranked second in the number of airdrops received this time. It received 294,000 ENSs, which is approximately US$17.64 million. beccaliebert.eth received 170,000 ENS, which is the third most airdrop address, which is about 10.2 million U.S. dollars. “0xfe” received 165,000 ENSs, ranking fourth in the number of ENS, which is approximately US$9.9 million.

And like the college students mentioned at the beginning of this article, there are “only” 46,296.3 contributors airdropped, and 46 addresses have already received it.

A huge airdrop of up to tens of millions of dollars may make users who did not receive the airdrop regret it. But looking back at the airdrop rules, you may get a bit of comfort: the recipients of these airdrops of up to 100,000 or 1 million are not necessarily individuals. 25% of the total supply of ENS will be airdropped to ENS contributors, and these contributors include more than 100 individuals and teams. In other words, some of these days of airdrops are shared by a team, which may be the reason why there are several contract addresses in the airdrop receiving address.

A fairer airdrop scheme caused domain name vendors to miss millions of dollars

Domain name hype has been born as early as the beginning of the Internet era, and there is no shortage of domain name merchants in decentralized domain name services. The number of ENS domain names held by domain name merchants is extremely large. Etherscan data shows that there are 20 wallet addresses holding more than 1,000 domain names.

ENS airdrops adopt a more fair computer system: independent addresses are used as the basis for accounting, and holding multiple domain names does not increase the number of receipts. This means that holding more ENS domain names for an address does not allow you to receive more airdrops. Although this distribution method is less friendly to large investors, it is relatively fairer. This plan also avoids the bulk airdrop of data such as the wool party machine’s transaction volume and position holdings in the previous airdrop activities to the greatest extent.

Domain name merchants usually hoard a large number of domain names in the same address, which also makes them miss out several times, tens of times, and hundreds of times of airdrops.

According to Dune Analytics data, 403,000 ENS domain names have been created so far, but only 152,000 independent addresses hold domain names. This also means that a large number of addresses hold multiple domain names at the same time.

ENS exists in the form of ERC-721 token on the chain, so we can estimate the position of the domain name from the position of the token.

After the ENS domain name expires, the domain name cannot be resolved normally, but the ERC-721 token will not be destroyed immediately. After the domain name was registered by another address, the original ERC-721 was sent to the black hole for destruction. Therefore, the Etherscan data is not accurate and can only be used as a reference. 

ENS airdrop myth: some college students received 2.78 million US dollars, some missed tens of millions

The ENS ERC-721 token held by the top 4 addresses alone accounted for more than half of the total ENS domain names. Take the address ending in “28e2” as an example. This address holds up to 40,798 ENS domain names, which is the largest holding address of the ENS ERC-721 token, accounting for 29.1% of all ENS.

The address “28e2” will not receive more airdrops due to holding 40,000 domain names. In this airdrop, 25 million ENS users were distributed, with an average of 180 ENS received per address. Assuming that the 40,000 domain names have not expired and are held by 40,000 addresses, it can be simply estimated that the user will receive 7.2 million ENS, which is approximately 432 million US dollars.

The leading project token is launched, and the value of the track leads the market test

The number of eligible addresses for this airdrop exceeded 137,000. The scale of this airdrop is gratifying. Just two short months ago, the large-scale airdrop of dYdX once ignited the enthusiasm of the market, and the number of users who received the dYdX empty investment qualification was “only” 36,000, which was less than one-third of this airdrop. .

Through a set of officially public data, we can have a clearer understanding of the amount of airdrops: the total amount of ENS airdropped to users is 25 million, and the average amount that can be received per address is 180. And the independent address that meets various conditions and the registration time reaches the upper limit can receive up to 1,179 pieces.

The airdrop is still open for collection, and the feast is still going on. The price of ENS has also become the next issue that people pay attention to. The price of ENS has continued to rise from approximately US$30 when the liquidity pool was created, and is currently hovering around US$60.

According to Dune Analytics data, 55,000 addresses have already received airdrops, and 11 million ENSs have been received. At present, 56% of ENS are still unclaimed. It is still unclear whether these ENSs will impact the market after they are received.

As a not new concept, the decentralized domain name track is back to the center of the market. After years of development and construction, the value of ENS domain names finally ushered in the test of the market. After the short-term speculation at the initial stage of the issuance, where the market value of ENS will stabilize, or may determine the market potential of the entire track.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/ens-airdrop-myth-some-college-students-received-2-78-million-us-dollars-some-missed-tens-of-millions/
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