Recently there has been a lot of uproar online in the crypto space. A lot of them have been about new crypto projects and how they've launched. Airdrop farming got a lot more popular at the start of the year and because of that a lot of projects were left with the choice to either cut out a lot of people from the eligibility criteria or to distribute dust to the masses. This has led to a lot of backlash and even the boycotting of some projects - like starknet who went to the extreme and called their community e beggars. During this period there were some projects that were able to make the majority smile (like Notcoin, GMRX) and this is because they had large funding and backing. But for every project that makes its community smile, there are another five or six that are coming after to design everyone's wallet with their dust.
Recently two big projects that airdrop hunters have been interacting with in hopes of massive returns recently launched and they were both disappointing for the exact reasons I stated above. We have Zksync who decided to cut off a vast majority of the average users and gave the top wallets five figure airdrops. A lot of those users spent money on transaction fees not to mention the time they spent interacting with for almost a year and they were left with nothing despite being promised rewards. Then we have the second one which is Layerzero. Which tried to be a bit more fair than Zksync was, but then at the end of the day they ended up giving some people rewards nowhere near the effort people put in. And just when people were taking it all in, they brought out a decree making everyone to donate before being able to claim their airdrop.
The number of new projects that have promised users rewards, and then went on to disappoint the users this year has been a lot. And then afterwards they go on to insult the community and make them out as e beggars after promising rewards and getting the desired interaction that that entails. It is disheartening, to say the least.
Then there's the question "If you can't reward users then why not just don't do airdrop?" Well, there are two reasons why a lot of projects won't do this. The first one is that their project won't get the level of attention that they want it to. When a project announces that there'll be an airdrop there are a lot of people ready to interact with their product and that way they won't need to look for testers, they get the job done for free, not to mention that there's also automatic shilling for the project. The number of threads that will be written by the big Twitter accounts is sure to spread the word about the project.
Then there's the second reason which is also tied to the first reason. A lot of these projects have zero innovation. They aren't doing anything new. They just copy and paste then add that they'll be doing airdrops and people rush to use them for the airdrop. Once that is over, people dump them and move to the next one. There are so many bridges doing the same thing, identical swaps etc. Some of these projects that know they offer nothing then go ahead to do multi season airdrops to keep the airdrop hunters on their chain for as long as possible.
The truth is a lot of these projects have nothing to offer and just use the airdrop narrative to keep people farming and continue to use their chain. This is why I like projects like Jupiter. They created a project I'd use whether or not there's an airdrop. My first airdrop this year was actually gotten there (Wen token) after I performed some swaps not knowing I was stumbling into free money. This is what airdrop should be, not everyone hunting for airdrops. In a way, I think this movement has slowed things down as projects no longer need to think of anything new, just slap airdrop on it, gather funding, give peanuts to the community and then keep dragging things out by adding more seasons.
Well as for me, I will keep using products I enjoy using, and things I actually need to use, the likes of Hive, Jupiter, Rhino.fi and co. And also this doesn't mean I'd stop hunting airdrops (not rich enough for that yet), I'd just make sure to actually look at what the project is doing and see if it is doing something unique. Not just some copy and paste.
Nothing stated here is financial advice. I am just stating my thoughts, do your own research. Or don't, it's all up to you.
THANKS FOR READING
Posted Using InLeo Alpha
I think calling the people you promised goodies "e-beggars" is the worst of it all.
Indeed, these guys use people for their things. I mean - I'm not saying it's not legit - have you seen the number of views Hamster Kombat gets on their YouTube channel? That account has over 20M subs, something that took MKBHD a decade to build, and we gave it to them. That's another income for whoever is running it.
Anyway, we get wiser... And sticking to useful projects makes it easier.
As for hamster people have given them too much for them not to give too much back as well. They'll be ruined if they tried it. So I think they're a far more better project than maybe tapswap or zync
They'll be ruined, that's for sure. But it matters more that people get something for their commitment.
Yeah, a lot of projects use the airdrop narrative to gain popularity. And usually they copy previous successful projects to take from the hype. I think Hamster will not do too bad (maybe not as good as it's predecessor Notcoin), but it's been too successful to not give it's community something reasonable (I can be wrong). It's a shame I'm not doing it though, but I hope it cooks, cause I have a lot of close friends and family on it.
!pimp
You must be killin' it out here!
@b0s just slapped you with 1.000 PIMP, @olujay.
You earned 1.000 PIMP for the strong hand.
They're getting a workout and slapped 1/1 possible people today.
Read about some PIMP Shit or Look for the PIMP District
Yeah, a ton of friends and family. I hope their time's not sent down the drain eventually.
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