The Cosmos eco-system has a number of airdrops coming to participants over the coming months. Last week, in this post I highlighted a number of the upcoming projects. The first in this series of airdrops is now claimable - Desmos (DSM)
What is Desmos?
A blockchain which serves as the backbone to empower the development of user-centric social networks.
Source: Desmos website
For my friends reading this on Hive, this will sound like nothing new, but for my Cosmos readers, this is targeting a niche within the Cosmos. Immutable social networks are a great idea, and will become the backbone of Web 3. Hive is starting to capture the spotlight, with a great performance of late price-wise. For my Cosmos friends, social works on a decentralized blockchain, so long as it is truly decentralized and safe from hostile actors. To understand how social networks can protect themselves from takeover, I'd highly recommend Charlie Shrem's latest interview with @starkerz. Maybe the team behind Desmos would do well to seek a partnership with Hive, or the @threespeak team, and work on ways to collaborate.
This post was meant to be about Desmos, so I'll get back on topic...
Basically, it appears that Desmos is aiming to be the account layer, where users can link their social profiles from Web 2, Web 3 and their wallets, and a platform for Social dApps to build on. DSM is the primary token, and will be staked to secure the network, earning a share of inflation. DSM will also be be able to be earned by "participating in the networks activities".
The Airdrop.
The DSM token is being airdropped to participants in many different Cosmos eco-system projects. ATOM, OSMO, AKT, BAND, CRO, JUNO, KAVA, LIKE, LUNA, NGM, REGEN communities all qualified for some airdrop. The full eligibility criteria can be found in this blog post from a couple of weeks ago.
Claiming is now live for DSM. Firstly, you can head to this website to check how much you have qualified for. The start of the airdrop claim process has been a little controversial. The initial process required users to input their private keys to claim, for each chain and wallet they were claiming for. This led to an immediate backlash from parts of the community, as one of the cardinal rules of crypto is to protect your keys at all costs. Do not expose them under any circumstances.
To their credit, the team reacted quickly and have added other methods to claim. Using a Ledger, they added this process and for claiming via Keplr wallet (the go to for many in the Cosmos eco-system) here is the link. Anyway, I agree with much of the community, risking your keys for an airdrop is a bad idea.
I have claimed my drop, and decided to stake it and see what happens. My plan for a lot of the upcoming drops has been to add them to LP's on Osmosis, but I'm shifting in that view for certain projects. Desmos has potential to be a network I will use, and as such having some staked to be able to participate in governance is most likely a good idea. HIVE will always be my Web 3 home, but Desmos may become a weekender or holiday house if you like, depending on how the network develops. I've staked, for now, my 847 DSM and we shall see what happens.
How much is that worth? No idea. DSM is not trading anywhere yet, to my knowledge. Once it goes live on Osmosis, which I would expect to be the first place DSM gets listed, then we'll know the value of the airdrop. Till then, the price is a mystery. DSM has an initial supply of 100 million, inflating over around 16 years to a final supply of 500 million.
Wait and see.
My approach to Desmos is to wait and see if it is a network that I will actively get involved in. Like I said before, HIVE is home, and nothing will change that as far as I can see. But if Desmos can prove it's use case, and prove beneficial, then I will have a little piece of it, and will definitely get involved. Having been on Hive for 3 1/2 years, I've grown accustomed to fast and free transactions, and an ever growing eco-system. In my eye's its a high standard for Desmos to match up to. To be fair, the eco-systems are likely going to be quite different, but whenever I hear Web 3 and Social in the context of Blockchain and crypto, it all gets compared to Hive.
Sorry, I know this post is meant to be about Desmos, but that is my frame of reference.
I'm looking forward to watching how the Desmos platform grows and evolves, I am very grateful for the airdrop, and I hope to see some cross-chain and cross eco-system collaboration with Hive.
For more information on many of the upcoming Cosmos eco-system airdrops, I made a detailed guide last week, with info and links for numerous upcoming projects.
Thanks for reading,
JK.
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Congrats on airdrop!
Waiting for the time when new stakers like me will also be eligible.
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The next few to drop have mostly had the snapshot already. The Shade drop should be a good one - daily snapshots are underway, so you should get some for it.
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I thought I had everything set up properly for the snapshot but apparently not. Hope i didn't screw up the one for Shade as that's the one I'm after.
That's disappointing. I think the snapshots for Desmos were mainly in August, could be why? Depends when you staked.
Shade is currently happening, you should be all good for that.
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Ah i see... for some reason I thought that snapshot was in October.
this probably explains why Im not eligible for the desmos airdrop too. I was prepping fairly recently for the shade drop. Definitely not as far back as august....
just to double check, Im supposed to just throw my keplr wallet address in the link to find out right? Thats the only address I have staked atom at
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Yeah as I understand it we just paste the keplr address that we use for staking in the link to check
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Hey, brother, great post as per usual, thanks for keeping us in the loop, I always look forward for your posts! Love Osmosis ecosystem too!
Maybe you could also share where and how you can stake Desmos?
https://x.forbole.com/ - I am using this for now. Once the dust all settles and they figure out everything, and have full Keplr support, I'll probably use that. But for now I'm using forbole. Forbole are cosmos validators that have been in the eco-system for ages, and Desmos is their project.
Be careful with your keys mate.
Thanks for the kind words in the other comment also, much appreciated.
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Thanks for the update, JK.
How/where did you get the DSM for the fees to save the profile as a request for the airdrop?
Oops, wrong account...
Most of my drop was for a wallet I have stopped using, so I used the keys as the wallets were empty, then shifted the DSM to my other "secure" wallet. Drop your address if you like and I'll send some for fees.
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Thanks! I sent the address as a DM in discord. I hope it works. I only have about 188 DLM to claim, but makes sense, the snapshots were quite early for me.
Sent some funds for fees. Hope it works.
188 is better than 0.
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Worked like a charm! Thanks again.
Nice to see my 2nd Cosmos airdrop developing @jk6276. Until I read this ...
... as it set off some serious alarms. In this digital asset class since Aug 2017, I truly cannot imagine what on earth a positive statement would be to support this approach. 🤔 Concerns me a lot, no matter what their subsequent "surrender" was to the obvious outcry it would raise. 😏
That said, claiming my DESMOS won't cost me anything but my precious time. I'll do it via the Ledger route, as a quick glance at your links indicates the Kepler route doesn't work well if (as in my case) it is back by a Ledger.
Then I think I may just put it in an LP pool on Osmosis. For me, I cannot imagine going to a different blockchain and starting over with creating new content there and establishing a following ...
If I have anything to add, once I have gone through the claiming process, I'll put it back here.
P.S. Like you, I have been steadily adding to my Cosmos stake. Over the last several days, I doubled it, so now in 5 figures. Likely now to just hold it there and shift focus to PolyLEO / PolyCUB. If Khal(ender) ever gets around to launching it ... 😉
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Well @jk6276 ... Their claim process, via Ledger anyway, didn't make a very favorable impression:
You can't claim on Forbole, without first creating a profile. 🙄 And ...
You can't create a profile, without incurring a fee. And finally, of course, I do not have any!? 😒😠
Nor, if I were so inclined, do I see any indication on their site where I might go about getting some ... 👎
If they are a startup, they have a ways to go ...
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Yeah, the whole process has been a concern. Requesting keys is a red flag, no doubt.
There is time, the claim is available for months I think. I am sure with the backlash they will come up with a solution, but I can send a little DSM if you are stuck.
Pooling on Omso is probably the best option.
Keep an eye out for the Comdex drop, which should be in a few days, I suspect it will be much smoother, plus they are running a LBP on OSMO as well.
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Nice, I didn't even know this was happening. Thanks for the heads up. Looks like I'm eligible for a few based on a BAND stake I have. Will need to keep tabs on the process though, hopefully they will make it easier to claim in time.
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Yeah, claiming has been a bit of a mess. If you are stuck and need a small gift to cover the TX, let me know.
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Thanks, will do. I plan on doing a little more research this weekend. Been a bit of a write off this week #FiatMiningSucks
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Where were you able to buy DES? , I tried claiming but had issues due to lack of DES to pay for fees.
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