According to previous reports by Zombit, data from blockchain analysis company Nansen pointed out that among the top 10,000 wallets that received the most airdrops of ZKSync’s native token ZK, nearly half have sold off all the allocations they received, which also triggered a stir in the community. Discussion on the project party’s implementation of token airdrops.
Cryptocurrency lawyer Gabriel Shapiro believes that no matter how strict the rules are implemented or weeks spent on precise Witch detection (which is what LayerZero is doing), it will not prevent airdrop users from dumping their tokens. The only way to build a community should be to allocate chips to stakeholders, including those who spend money to buy and those who participate in the construction, rather than airdropping to 0-cost pseudo-users.
On the other hand, well-known KOL Cobie said that in the current environment, project parties’ implementation of token airdrops will generally do more harm than good.
“You’re just allocating 20% of tokens to extremely low-value users who are unlikely to retain them, and more than half of those tokens are sold quickly, and the cost basis for those tokens is almost zero.”
Cobie said that the project team needs a high fully diluted valuation (FDV) after issuing the currency for the airdrop to be considered "good", which creates strange incentives for circulation and FDV.
Moreover, if you make a small mistake during the airdrop process (including or excluding a certain group), you will suffer huge backlash from the community. In the days after the airdrop inquiry was announced, the two most recent large airdrops (zksync and eigenlayer) received curses of “zkscam” and “eigenscam”.
In addition, Cobie also pointed out that one project that did not conduct airdrops (seemingly referring to Ondo) has performed well in the market recently, so airdrops are not the only option for the project team. Finally, Cobie said:
“Maybe after LayerZero, the era of airdrops will be over.”
However, many people in the community believe that this airdrop model will only continue because the project party and the Wool Party actually have a symbiotic relationship. The Wool Party wants to obtain the project party’s token airdrop and actively participate in the interaction. The project party Then the wool party needs to contribute good-looking user interaction data so that they can raise funds from VCs at a higher valuation.
