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Bear markets are never stagnant pools, but rather a scene of utter despair. Looking at the present, some people are still making money, and some projects are still offering substantial returns. Many disputes between crypto communities and project teams can be attributed to the huge discrepancy between actual airdrops and expectations. However, conversely, airdrops that far exceed expectations are actually quite rare. Therefore, whenever such projects appear, they become the talk of the town, like UNI HYPE or even NEWT.
Backpack's announcement the day before yesterday clearly places it among the top earners.
- The airdrop ratio is as high as 25%, with 24% going to holders of approximately 400 million points and 1% going to 10,000 Mad Lads NFT holders.
Compared to other Solana liquidity centers that airdrop Jupiter (around 2%) and Drift (12%), BP's offer appears quite generous.
What's even more commendable is that BP explicitly didn't offer any leverage to VCs or market makers, which clearly means that institutions and retail investors are back on equal footing.
- According to estimates from the forecasting market Polymarket, TGE's FDV is expected to be in the range of $700 million to $1 billion, therefore each unit is worth approximately $0.4-$0.6.
In other words, despite the undeniable fact that prices are falling, the excessive airdrops from project teams still make business plans (BPs) a "real money-maker" for retail investors.
@armaniferrante @Miiiho420

Backpack
@Backpack
01-30
There are 40m points being redistributed over the next 4 weeks.
oh, one more thing:
25% on TGE 🎒

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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