🔔 Foreword:

I recently studied @BulbaSwap's token model and unexpectedly found their distribution logic quite innovative. They did not follow the old projects' paths but instead allocated 80% of the tokens to users. In an environment where many projects take 20% for the team + 30% for private placement, this is truly a rare fresh stream.

1️⃣ User priority: 80% allocation rewards real participation

Their token distribution logic is actually quite clear: the more you use the platform and contribute, the more $BULBA the system will dynamically distribute daily. The fees are not absorbed by the platform but are used to repurchase tokens, forming an internal cycle.

This model can be summarized in one sentence: those who use it get tokens, and the money the platform earns continues to benefit the community.

2️⃣ No room for wash trading: rewards are strongly linked to real transactions

BulbaSwap's mechanism design is actually preventing wash trading and scamming. Want to grab an airdrop? Sure, but the prerequisite is to have real transaction volume. The system dynamically releases rewards based on trading depth and activity, so using multiple accounts to inflate volume won't work.

To some extent, this anti-scam mechanism is quite beneficial for retaining core users.

3️⃣ Ecological linkage: airdrops are not just about throwing money, but targeted incentives

This airdrop design is also worth mentioning. They have allocated 5% of the total supply specifically for airdrops to @MorphPay ecosystem users, with the first wave of 2.4% going to holders of the Morph Black Card NFT.

This precise incentive approach is actually quite clever: it rewards early users while strengthening the interconnected relationships within the ecosystem, which is completely different from just throwing a bunch of coins to see who picks them up.

4️⃣ Resource allocation restraint: the team + market collectively only takes 15%

The team only took 5% and set a lock-up period; the incentives for CEX and market makers combined only account for 10%. This distribution method sends a very clear signal: this is a team that wants to build products for the long term, rather than a team that aims to quickly cash out from a hot project.

Especially compared to a lot of projects that start with 30% reserved for the team, BulbaSwap clearly takes a 'community-first + bottom-up' approach.

5️⃣ Meme is the shell, DeFi is the skeleton

Although $BULBA seems like a meme project, the underlying logic is actually focused on refining the DeFi model. You can see that they are seriously considering how to link incentives to real usage, how to close the value loop, and how to co-build the ecosystem—these are common but rarely addressed issues. Whether it will succeed in the future is hard to say, but at least it's clear that they are indeed doing practical work.

🎯 In conclusion:

There are a lot of meme projects on the market, but there is a real opportunity for projects like BulbaSwap that are willing to put effort into their models to carve out a different path.

✅ Reasonable distribution mechanism

✅ Reliable anti-wash design

✅ Strategic airdrops

✅ The team takes little while the community takes the majority

Maybe BulbaSwap is the next example of a practical application route.