2 days ago
Over 10x on stacy. Will be selling some at 10mil. The trail has been already blazed by gigachad. The team and community is amazing. So I belief we can go higher than this
13 days ago
WHAT ARE THE BIGGEST OBSTACLES TO DePIN GROWTH??
In a recent appearance at ETHToronto, Frank Mathis highlights the next steps for DePIN’s future.
GenesysGo founder Frank Mathis is no stranger to the highs and lows of crypto’s thriving DePIN sector.
Drawing on his years of experience, Mathis joined other DePIN thought leaders at ETHToronto, including Helium COO Scott Sigel, to discuss the future of the sector.
“If DePIN solves that, DePIN is inevitable”
Like many passionate crypto community members, DePIN advocates staunchly argue that DePIN is inevitable. Speaking to hundreds of crypto enthusiasts at ETHToronto, Mathis offered a refreshing point of view.
The GenesysGo founder argues that value creation for contributors is one of the most integral aspects of running successful DePIN networks. Mathis highlighted that, while DePIN promises to reward contributors as decentralized software scales, “it’s shocking how much of that is running on AWS and Google Cloud.”
For example, over 50% of Ethereum node operators are hosted on AWS, Hetzner, and OVH servers.
Reiterating the importance of wealth creation for contributors, Mathis contends “what DePIN really is, is an attempt to take one of the most centralized layers of the stack and decentralize that amongst the people such that they start to participate in the growth and success of these models.”
GenesysGo’s ShdwDrive is one such example. The decentralized storage solution empowers users to earn $SHDW tokens by providing unused mobile storage to a distributed network, directly generating income from a device that lives in their pocket.
Reflecting the ideal DePIN model proposed by Mathis, network contributors benefit from the growth and success of the platform. The GenesysGo founder reinforced this notion, opining “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”
POOR PERFORMANCE “ONE OF THE BIGGEST FAILINGS OF DePIN”
On paper, the benefits of DePINs are obvious. However, in practice, these platforms often sacrifice performance and scalability in favor of decentralization. While this aids in value creation for contributors and increases security, it actually hamstrings performance and growth.
DePIN is often considered the natural evolution of the sharing economy, which delivered iconic businesses like Uber and Airbnb.
Drawing parallels between the pearls of the sharing economy and emerging DePIN projects, Mathis illustrated that “Uber became highly successful, not just because you’re able to share in pieces of things you don’t use everyday.. but because it worked well, it was fast, it was easy to use.”
Mathis argues that for DePIN projects to truly take off, they need to rival the performance standards set by centralized industry leaders. Referencing his experience with GenesysGo, the founder posits “in our case, our first principle [is] decentralized storage needs to be as fast, as secure, as stable, and perform every bit as well as a traditional Web2 cloud service.”
ABSTRACTION IS KEY
The Web3 user experience has long been considered one of the industry’s biggest obstacles to adoption. The complexities of wallet management and security have discouraged newcomers to space for over a decade, and continue to repel potential users today.
Mathis insists that abstracting the end-user experience away from blockchain technology is key to the success of the industry. Reinforcing this belief, the founder affirms “Your end user shouldn’t know that they’re interacting with Web3”
Looking towards the future, Mathis considers DePIN regulation will present a significant obstacle to the sector’s growth. However, instead of taking a chagrined approach to future regulatory concerns, the GenesysGo founder suggests that DePIN projects need to take on some responsibility.
In a recent appearance at ETHToronto, Frank Mathis highlights the next steps for DePIN’s future.
GenesysGo founder Frank Mathis is no stranger to the highs and lows of crypto’s thriving DePIN sector.
Drawing on his years of experience, Mathis joined other DePIN thought leaders at ETHToronto, including Helium COO Scott Sigel, to discuss the future of the sector.
“If DePIN solves that, DePIN is inevitable”
Like many passionate crypto community members, DePIN advocates staunchly argue that DePIN is inevitable. Speaking to hundreds of crypto enthusiasts at ETHToronto, Mathis offered a refreshing point of view.
The GenesysGo founder argues that value creation for contributors is one of the most integral aspects of running successful DePIN networks. Mathis highlighted that, while DePIN promises to reward contributors as decentralized software scales, “it’s shocking how much of that is running on AWS and Google Cloud.”
For example, over 50% of Ethereum node operators are hosted on AWS, Hetzner, and OVH servers.
Reiterating the importance of wealth creation for contributors, Mathis contends “what DePIN really is, is an attempt to take one of the most centralized layers of the stack and decentralize that amongst the people such that they start to participate in the growth and success of these models.”
GenesysGo’s ShdwDrive is one such example. The decentralized storage solution empowers users to earn $SHDW tokens by providing unused mobile storage to a distributed network, directly generating income from a device that lives in their pocket.
Reflecting the ideal DePIN model proposed by Mathis, network contributors benefit from the growth and success of the platform. The GenesysGo founder reinforced this notion, opining “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”
POOR PERFORMANCE “ONE OF THE BIGGEST FAILINGS OF DePIN”
On paper, the benefits of DePINs are obvious. However, in practice, these platforms often sacrifice performance and scalability in favor of decentralization. While this aids in value creation for contributors and increases security, it actually hamstrings performance and growth.
DePIN is often considered the natural evolution of the sharing economy, which delivered iconic businesses like Uber and Airbnb.
Drawing parallels between the pearls of the sharing economy and emerging DePIN projects, Mathis illustrated that “Uber became highly successful, not just because you’re able to share in pieces of things you don’t use everyday.. but because it worked well, it was fast, it was easy to use.”
Mathis argues that for DePIN projects to truly take off, they need to rival the performance standards set by centralized industry leaders. Referencing his experience with GenesysGo, the founder posits “in our case, our first principle [is] decentralized storage needs to be as fast, as secure, as stable, and perform every bit as well as a traditional Web2 cloud service.”
ABSTRACTION IS KEY
The Web3 user experience has long been considered one of the industry’s biggest obstacles to adoption. The complexities of wallet management and security have discouraged newcomers to space for over a decade, and continue to repel potential users today.
Mathis insists that abstracting the end-user experience away from blockchain technology is key to the success of the industry. Reinforcing this belief, the founder affirms “Your end user shouldn’t know that they’re interacting with Web3”
Looking towards the future, Mathis considers DePIN regulation will present a significant obstacle to the sector’s growth. However, instead of taking a chagrined approach to future regulatory concerns, the GenesysGo founder suggests that DePIN projects need to take on some responsibility.
22 days ago
Aiming for growth, fueled by belief. 🌱🔥 Ready to fight and build for what matters. Join the journey.
CA: 4Bp6mKmq5E5wACgCqTNndu2wiEo5xp5TEfYfvckUhGS3
CA: 4Bp6mKmq5E5wACgCqTNndu2wiEo5xp5TEfYfvckUhGS3
25 days ago
Daily Memecoin Recap - August 23
Crypto is pumping
$btc closes +6% today
$eth & $sol follow at +5% and +7% respectively
Runners Of The Day
$ptc -> $880k to $2 .7m (3.06x), 70% of supply burnt, paper drawings of $btc
$ufo -> hit $2 .4m, decent team, heavily sniped on launch
$sym -> hit $1 .65m, "the most symmetrical dog on Solana",
$nibo -> hit $1 .2m, large buys on launch, decent team, dog meme
$susdog -> hit $950k , based on a viral suspicious dog meme
Smoking Chicken Fish Gains Volume
$scf -> $19m to $83m (4.4x from the low), reversal, banger video drop, team is heavily dedicated
$sed -> $500k to $1 .95m (3.9x), beta to $scf , has been slow cooking since its launch on August 20th, heavy push today following $sc
Fwog Making Higher Highs
$fwog -> $10m to $28m (2.8x),
- Community continues to get stronger
- Some of the best art in the space
- Great background story (dev rugged -> artist/community relaunch)
Utility Play
$chat -> $5m to $18m (3.6x from the low), ATH $174m , shilled by MarioNawfal
Other Cooks
$ong -> $400k to $1 .94m (4.85x), "On God", gen z/tiktok meta, was dead but slowly reviving, ATH is $25m
$afc -> hit $440k , "Airforce Chicken"
$bb -> hit $435k , "Bubble Buddies", based on a spongebob character, twitter community instead of a twitter account
$belief -> hit $375k , influencer coin, dog meme
$mow -> hit $310k , "Monkey On Watermelon"
$kak -> hit $278k , "Kakling Kamala", based on KamalaHarris' laugh, launched on dexscreener's moonshot
$ascend -> hit $240k , cat meme, CTO
The market has been absolutely dead lately, but if majors continue to pump, volume will start to pick up
It's important to consider that September is historically one of the worst months for the market (S&P500)
This doesn't necessarily mean that history will repeat itself, but it is interesting data nonetheless
Lock in 🔒
Crypto is pumping
$btc closes +6% today
$eth & $sol follow at +5% and +7% respectively
Runners Of The Day
$ptc -> $880k to $2 .7m (3.06x), 70% of supply burnt, paper drawings of $btc
$ufo -> hit $2 .4m, decent team, heavily sniped on launch
$sym -> hit $1 .65m, "the most symmetrical dog on Solana",
$nibo -> hit $1 .2m, large buys on launch, decent team, dog meme
$susdog -> hit $950k , based on a viral suspicious dog meme
Smoking Chicken Fish Gains Volume
$scf -> $19m to $83m (4.4x from the low), reversal, banger video drop, team is heavily dedicated
$sed -> $500k to $1 .95m (3.9x), beta to $scf , has been slow cooking since its launch on August 20th, heavy push today following $sc
Fwog Making Higher Highs
$fwog -> $10m to $28m (2.8x),
- Community continues to get stronger
- Some of the best art in the space
- Great background story (dev rugged -> artist/community relaunch)
Utility Play
$chat -> $5m to $18m (3.6x from the low), ATH $174m , shilled by MarioNawfal
Other Cooks
$ong -> $400k to $1 .94m (4.85x), "On God", gen z/tiktok meta, was dead but slowly reviving, ATH is $25m
$afc -> hit $440k , "Airforce Chicken"
$bb -> hit $435k , "Bubble Buddies", based on a spongebob character, twitter community instead of a twitter account
$belief -> hit $375k , influencer coin, dog meme
$mow -> hit $310k , "Monkey On Watermelon"
$kak -> hit $278k , "Kakling Kamala", based on KamalaHarris' laugh, launched on dexscreener's moonshot
$ascend -> hit $240k , cat meme, CTO
The market has been absolutely dead lately, but if majors continue to pump, volume will start to pick up
It's important to consider that September is historically one of the worst months for the market (S&P500)
This doesn't necessarily mean that history will repeat itself, but it is interesting data nonetheless
Lock in 🔒
2 months ago
Crypto affluent, fiat frustrated… Strong belief that a 2nd bankruptcy can’t ruin me. Donald would agree 100%. I paid $9000 into a Consumer proposal, then realized I was maintaining “credit” with the wrong creditor (BTC)…. A new age indeed. Our hopes are high that we can get a return!
2 months ago
With the network’s perpetual trading platforms notching all-time highs in TVL (Total Value Locked) and daily trading volume, Solana summer is in full swing.
Despite the belief that mercenary capital and airdrop farmers were generating artificial volume in Solana’s perpetual scene, trading appetite has returned in full force.
Since January 1st, Solana perpetual exchange TVL is up 447%. Which DeFi apps are leading the charge?
Jupiter Records All-Time High in TVL and Trading Volume.
Despite the belief that mercenary capital and airdrop farmers were generating artificial volume in Solana’s perpetual scene, trading appetite has returned in full force.
Since January 1st, Solana perpetual exchange TVL is up 447%. Which DeFi apps are leading the charge?
Jupiter Records All-Time High in TVL and Trading Volume.
2 months ago
Crypto Community Smug About Global IT Outage, But Does Blockchain Actually Fix This?
A software bug invoked international hysteria when a bug in a Windows content update shut down banks, airlines, and emergency services.
Showcasing the world’s reliance on centralized systems, a global IT outage brought the world to its knees. Across the planet, major service providers like banks, supermarkets, and logistics companies found themselves unable to operate, causing significant disruption.
Eager to prove its relevance, the crypto community was quick to launch a tirade of smug comments. “Crypto fixes this” was heard across social media platforms, with crypto advocates championing blockchain as an obvious solution to singular points of failure.
But is that truly the case? While decentralization aims to eliminate centralized points of failure, would blockchain solutions actually have prevented this widespread technical meltdown?
What Happened?
The chaos began when CrowdStrike, a cybersecurity provider, pushed a defective single content update to Windows hosts. The bug affected millions of Microsoft Windows devices all over the world, causing infinite reboot loops and leaving users staring at Windows’ infamous BSoD (Blue Screen of Death).
Attempting to bring clarity to the situation CrowdStrike CEO George Kurtz, released a statement on 𝕏. Assuring affected users that “this is not a security incident or cyberhack”, the CEO claims that “the issue has been identified, isolated, and a fix has been deployed”.
While Kurtz has indicated that a fix has been deployed, Windows users globally report still being unable to access their devices.
Fortunately, savvy developers were on hand to remedy the situation and provide timely solutions.
Affected users can reboot their Windows devices in Safe Mode and delete the defective update file, or wait until CrowdStrike implemented resolution is distributed.
CRWD stock
In traditional markets, CrowdStrike stock (CRWD) suffered a crippling blow, down 8.82% in today’s trading, based on NASDAQ data. While this might seem insignificant when compared to crypto’s volatility, price movements of this scale are uncommon in traditional markets.
Does Crypto Really Fix This?
The crypto community wasted no time calling out the flaws of centralized systems and singular points of failure. Citing mass outages like today’s as evidence that decentralized systems are the future of infrastructure, crypto advocates were quick to leverage the event as an example of “Bitcoin fixes this”.
However, not all pockets of the crypto community were in agreement. Several blockchain developers and engineers highlighted that in this specific example, pushing bugged code to production would likely have the same effect to blockchain networks.
Despite the specifics and technicalities, the event serves as a powerful reminder of the flaws in centralized services and singular points of failure. Commentators remarked that society’s reliance on centralized companies and infrastructure providers doesn’t bode well for our future.
This belief reinforces the viability of DePin technology, which aims to distribute services across a variety of independent providers and establish more secure and reliable infrastructure. Frank Mathis, founder of GenesysGo, highlights the importance of conducting rigorous security checks before pushing software updates.
Cryptocurrency and blockchain technology may not have been a direct solution to this particular problem. However, global outages like the CrowdStrike defect help to promote discussion around the benefits of decentralization and distributed systems.
A software bug invoked international hysteria when a bug in a Windows content update shut down banks, airlines, and emergency services.
Showcasing the world’s reliance on centralized systems, a global IT outage brought the world to its knees. Across the planet, major service providers like banks, supermarkets, and logistics companies found themselves unable to operate, causing significant disruption.
Eager to prove its relevance, the crypto community was quick to launch a tirade of smug comments. “Crypto fixes this” was heard across social media platforms, with crypto advocates championing blockchain as an obvious solution to singular points of failure.
But is that truly the case? While decentralization aims to eliminate centralized points of failure, would blockchain solutions actually have prevented this widespread technical meltdown?
What Happened?
The chaos began when CrowdStrike, a cybersecurity provider, pushed a defective single content update to Windows hosts. The bug affected millions of Microsoft Windows devices all over the world, causing infinite reboot loops and leaving users staring at Windows’ infamous BSoD (Blue Screen of Death).
Attempting to bring clarity to the situation CrowdStrike CEO George Kurtz, released a statement on 𝕏. Assuring affected users that “this is not a security incident or cyberhack”, the CEO claims that “the issue has been identified, isolated, and a fix has been deployed”.
While Kurtz has indicated that a fix has been deployed, Windows users globally report still being unable to access their devices.
Fortunately, savvy developers were on hand to remedy the situation and provide timely solutions.
Affected users can reboot their Windows devices in Safe Mode and delete the defective update file, or wait until CrowdStrike implemented resolution is distributed.
CRWD stock
In traditional markets, CrowdStrike stock (CRWD) suffered a crippling blow, down 8.82% in today’s trading, based on NASDAQ data. While this might seem insignificant when compared to crypto’s volatility, price movements of this scale are uncommon in traditional markets.
Does Crypto Really Fix This?
The crypto community wasted no time calling out the flaws of centralized systems and singular points of failure. Citing mass outages like today’s as evidence that decentralized systems are the future of infrastructure, crypto advocates were quick to leverage the event as an example of “Bitcoin fixes this”.
However, not all pockets of the crypto community were in agreement. Several blockchain developers and engineers highlighted that in this specific example, pushing bugged code to production would likely have the same effect to blockchain networks.
Despite the specifics and technicalities, the event serves as a powerful reminder of the flaws in centralized services and singular points of failure. Commentators remarked that society’s reliance on centralized companies and infrastructure providers doesn’t bode well for our future.
This belief reinforces the viability of DePin technology, which aims to distribute services across a variety of independent providers and establish more secure and reliable infrastructure. Frank Mathis, founder of GenesysGo, highlights the importance of conducting rigorous security checks before pushing software updates.
Cryptocurrency and blockchain technology may not have been a direct solution to this particular problem. However, global outages like the CrowdStrike defect help to promote discussion around the benefits of decentralization and distributed systems.
2 months ago
TRUMP OR BIDEN - WHO’S BETTER FOR CRYPTO?
As November’s critical election draws closer one presidential candidate has made his pro-crypto stance abundantly clear, but have any promises or policies been made?
For the first time in the nation’s history, crypto policy will take center stage and play a crucial role in the U.S. Presidential race. With over 52M cryptocurrency owners in the country, according to a Coinbase report, winning the crypto vote could well mean the difference between sitting in the Oval Office and hanging up your Campaign tie for another four years.
Where do Trump and Biden stand on crypto? Will Biden attempt to make amends for Gary Gensler’s crypto crusade? Will Trump, the self-proclaimed ‘crypto president’ deliver on his claims?
BIDEN’S STANCE OVER THE YEARS
The Biden Administration has hardly been crypto-friendly in the last four years. Under Biden’s watch, Securities and Exchanges Commission Chair Gary Gensler has led a merciless campaign against the digital asset industry, serving lawsuits to crypto companies left, right, and center.
Gary Gensler hasn’t been alone in his fight against cryptocurrency. Senator Elizabeth Warren has strongly advocated against cryptocurrencies in the past, frequently using individual examples to paint the entire industry in a bad light.
With November only four months away, the Biden administration’s stance on crypto hasn't changed. A recent Statement of Administration Policy declared that the Administration was against passing H.R. 4763, a proposed regulatory framework for digital assets.
The decision was made due to the belief that “H.R. 4763 in its current form lacks sufficient protections for consumers and investors who engage in certain digital asset transactions.”
Despite refusing the framework, the Biden Administration maintains that it “is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital assets and payment innovation and help reinforce United States leadership in the global financial system.”
DONALD TRUMP - THE ‘CRYPTO PRESIDENT’
Despite calling Bitcoin a ‘scam against the dollar’ back in 2021, Trump seems to have changed his tune on cryptocurrency. In a recent tech fundraiser event in San Francisco, Trump has rebranded himself as the ‘crypto president' evidently trying to win the vote of the nation’s population on digital asset holders.
Trump’s dramatic change of heart toward the cryptocurrency world has even made its way onchain. Arkham Intelligence, a popular blockchain analysis and tracking tool claims to have identified Trump’s crypto wallet, which holds over $7 .9M of digital assets. The former President has also shown a penchant for NFTs having launched several Trump Digital Trading Card collections.
More recently, Trump has promised to “end Biden’s War on Crypto”. The Republic candidate has further declared that he is “very positive and open minded to cryptocurrency companies”. Aligning himself with the Bitcoin faithful, Trump views Bitcoin as “our last line of defense against a CBDC”.
These views align with Republican Senator Bill Hagerty, who expressed that a CBDC is “the last thing I think we need as a nation” and “would be very detrimental to our economy, to the dollar and certainly to innovation in this space” during a recent interview with Solana Head of Strategy Austin Federa.
As November’s critical election draws closer one presidential candidate has made his pro-crypto stance abundantly clear, but have any promises or policies been made?
For the first time in the nation’s history, crypto policy will take center stage and play a crucial role in the U.S. Presidential race. With over 52M cryptocurrency owners in the country, according to a Coinbase report, winning the crypto vote could well mean the difference between sitting in the Oval Office and hanging up your Campaign tie for another four years.
Where do Trump and Biden stand on crypto? Will Biden attempt to make amends for Gary Gensler’s crypto crusade? Will Trump, the self-proclaimed ‘crypto president’ deliver on his claims?
BIDEN’S STANCE OVER THE YEARS
The Biden Administration has hardly been crypto-friendly in the last four years. Under Biden’s watch, Securities and Exchanges Commission Chair Gary Gensler has led a merciless campaign against the digital asset industry, serving lawsuits to crypto companies left, right, and center.
Gary Gensler hasn’t been alone in his fight against cryptocurrency. Senator Elizabeth Warren has strongly advocated against cryptocurrencies in the past, frequently using individual examples to paint the entire industry in a bad light.
With November only four months away, the Biden administration’s stance on crypto hasn't changed. A recent Statement of Administration Policy declared that the Administration was against passing H.R. 4763, a proposed regulatory framework for digital assets.
The decision was made due to the belief that “H.R. 4763 in its current form lacks sufficient protections for consumers and investors who engage in certain digital asset transactions.”
Despite refusing the framework, the Biden Administration maintains that it “is eager to work with Congress to ensure a comprehensive and balanced regulatory framework for digital assets, building on existing authorities, which will promote the responsible development of digital assets and payment innovation and help reinforce United States leadership in the global financial system.”
DONALD TRUMP - THE ‘CRYPTO PRESIDENT’
Despite calling Bitcoin a ‘scam against the dollar’ back in 2021, Trump seems to have changed his tune on cryptocurrency. In a recent tech fundraiser event in San Francisco, Trump has rebranded himself as the ‘crypto president' evidently trying to win the vote of the nation’s population on digital asset holders.
Trump’s dramatic change of heart toward the cryptocurrency world has even made its way onchain. Arkham Intelligence, a popular blockchain analysis and tracking tool claims to have identified Trump’s crypto wallet, which holds over $7 .9M of digital assets. The former President has also shown a penchant for NFTs having launched several Trump Digital Trading Card collections.
More recently, Trump has promised to “end Biden’s War on Crypto”. The Republic candidate has further declared that he is “very positive and open minded to cryptocurrency companies”. Aligning himself with the Bitcoin faithful, Trump views Bitcoin as “our last line of defense against a CBDC”.
These views align with Republican Senator Bill Hagerty, who expressed that a CBDC is “the last thing I think we need as a nation” and “would be very detrimental to our economy, to the dollar and certainly to innovation in this space” during a recent interview with Solana Head of Strategy Austin Federa.
3 months ago
Blast's airdrop is tomorrow
And the stakes couldn't be higher...
Here's what you need to know before tomorrow's drop 👇
It's almost... finally... just about here.
Ethereum’s Blast_L2 has been one of the more innovative protocols when it comes to incentive models for bootstrapping deposits and user activity.
They've been very successful thus far, enabling the network to accumulate over $2B in total value locked (TVL) and become the second-largest L2!
While Blast has transformed into a Goliath among L2s, the imminence of its airdrop – scheduled for tomorrow, June 26 – raises undeniable concerns about the network’s future in the aftermath of this much-anticipated event.
Today, we’re digging into what we know about the airdrop and unpacking the dilemma Blast faces in the post-drop battle to retain existing users and their capital! 👇
What's Happening with Blast?
Many early Blast depositors were shocked when they received a points multiplier instead of liquid tokens at mainnet launched in February, and despite promises to conduct a drop sometime in May, this date was subsequently delayed to June 26 (tomorrow!) for unknown reasons.
Although Blast had not provided complete tokenomics until today, it had committed to setting aside half of the nebulous initial airdrop allocation to recipients of “Points” and the other half to holders of “Gold.”
Further, Blast introduced “Jackpots” to distribute Gold to users; wallets could enter a “deck” of up to eight Blast-native tokens or NFTs into these randomly occurring events to receive Gold if one of their selected items is chosen as the Jackpot winner.
Needless to say, it's been a long, winding road filled with a lot of leaderboards and incentive charades. But now, after all this time, the team finally has to deliver on its airdrop.
$BLAST launches tomorrow at 10AM EST.
Who's Getting Blast's Airdrop?
Blast’s success has primarily hinged on users’ perceptions that interacting with the network will position them to receive lucrative token rewards, making it imperative for Blast to conduct a well-received airdrop to maintain its market dominance.
Although a monster initial airdrop allocation would certainly make users feel valued for their past activities, it would diminish the value of future airdrop incentives and dilute the potency of this airdrop farm. Alternatively, too small of an initial drop risks aggravating users and unraveling the belief that unclear BLAST allocation schemes are worth chasing.
In total, Blast reserved 50% of the total 100B BLAST supply for the community, with 17B of these tokens – roughly one-third of the total community allocation – set to be distributed through the initial, or Phase 1, airdrop.
The top 0.1% of airdrop recipients, about 1k addresses, will have to vest a portion of their airdrop linearly over 6 months and will be subject to minimum monthly Points thresholds based on their Phase 1 activity to fully vest their allocation – a clear effort to keep whales and their capital involved in the network's future.
An additional 8B BLAST subject to a 4-year linear unlock was granted to the recently established Blast Foundation, an organization intended to help the community realize the “Blast Vision,” further details of which are scheduled to be unveiled tomorrow alongside the airdrop.
On the other hand, a successful initial drop would build an outsized aura around the network and likely attract an increased amount of users and capital seeking to farm future incentives to Blast, turbocharging onchain metrics, bolstering the valuation of BLAST, and increasing the attractiveness of this opportunity!
Which future awaits Blast? We'll have a good idea in a few hours!
Written by JackInabinet
And the stakes couldn't be higher...
Here's what you need to know before tomorrow's drop 👇
It's almost... finally... just about here.
Ethereum’s Blast_L2 has been one of the more innovative protocols when it comes to incentive models for bootstrapping deposits and user activity.
They've been very successful thus far, enabling the network to accumulate over $2B in total value locked (TVL) and become the second-largest L2!
While Blast has transformed into a Goliath among L2s, the imminence of its airdrop – scheduled for tomorrow, June 26 – raises undeniable concerns about the network’s future in the aftermath of this much-anticipated event.
Today, we’re digging into what we know about the airdrop and unpacking the dilemma Blast faces in the post-drop battle to retain existing users and their capital! 👇
What's Happening with Blast?
Many early Blast depositors were shocked when they received a points multiplier instead of liquid tokens at mainnet launched in February, and despite promises to conduct a drop sometime in May, this date was subsequently delayed to June 26 (tomorrow!) for unknown reasons.
Although Blast had not provided complete tokenomics until today, it had committed to setting aside half of the nebulous initial airdrop allocation to recipients of “Points” and the other half to holders of “Gold.”
Further, Blast introduced “Jackpots” to distribute Gold to users; wallets could enter a “deck” of up to eight Blast-native tokens or NFTs into these randomly occurring events to receive Gold if one of their selected items is chosen as the Jackpot winner.
Needless to say, it's been a long, winding road filled with a lot of leaderboards and incentive charades. But now, after all this time, the team finally has to deliver on its airdrop.
$BLAST launches tomorrow at 10AM EST.
Who's Getting Blast's Airdrop?
Blast’s success has primarily hinged on users’ perceptions that interacting with the network will position them to receive lucrative token rewards, making it imperative for Blast to conduct a well-received airdrop to maintain its market dominance.
Although a monster initial airdrop allocation would certainly make users feel valued for their past activities, it would diminish the value of future airdrop incentives and dilute the potency of this airdrop farm. Alternatively, too small of an initial drop risks aggravating users and unraveling the belief that unclear BLAST allocation schemes are worth chasing.
In total, Blast reserved 50% of the total 100B BLAST supply for the community, with 17B of these tokens – roughly one-third of the total community allocation – set to be distributed through the initial, or Phase 1, airdrop.
The top 0.1% of airdrop recipients, about 1k addresses, will have to vest a portion of their airdrop linearly over 6 months and will be subject to minimum monthly Points thresholds based on their Phase 1 activity to fully vest their allocation – a clear effort to keep whales and their capital involved in the network's future.
An additional 8B BLAST subject to a 4-year linear unlock was granted to the recently established Blast Foundation, an organization intended to help the community realize the “Blast Vision,” further details of which are scheduled to be unveiled tomorrow alongside the airdrop.
On the other hand, a successful initial drop would build an outsized aura around the network and likely attract an increased amount of users and capital seeking to farm future incentives to Blast, turbocharging onchain metrics, bolstering the valuation of BLAST, and increasing the attractiveness of this opportunity!
Which future awaits Blast? We'll have a good idea in a few hours!
Written by JackInabinet
