Towns raises $46 million and launches on Binance, but is the airdrop value expected to 'shrink'?

Last night, according to official news, Binance Alpha will launch Towns (TOWNS) on August 5. Although Towns did not conduct a TGE in Q2, the launch on Binance Alpha means that Towns is about to airdrop tokens for early interactive users.

Odaily Planet Daily brings you an understanding of the Towns project, token economic model, airdrop situation, off-market prices, and point valuation. Towns is a group chat protocol and application designed specifically for online communities, consisting of three parts: smart contracts, a decentralized node network, and applications built on the Towns protocol. The biggest feature of Towns is its idea of a town square, combining community, NFTs, and games, providing users with an Ethereum-based smart contract system and end-to-end encrypted chat. Towns allows community members to own their town square and communicate freely with others through a completely decentralized, end-to-end encrypted chat protocol.

According to the latest official disclosure, Towns has raised a total of $46 million so far, with investors including a16z Crypto, Coinbase Ventures, Benchmark, Framework, echodotxyz, and others.

4 billion points can be exchanged for 1 billion tokens, and the airdrop may be 'small'

According to on-chain data, the total points accumulated by the Towns platform have exceeded 4 billion. In the token economic model, about 10% of the total token supply is allocated for airdrop rewards, which is about 1 billion TOWNS tokens. Given that approximately 400,000 point users are expected to receive airdrops, the overall ratio will show '1 billion tokens distributed for 4 billion points'—meaning each point can roughly be exchanged for 0.25 TOWNS.

Referring to the pre-market trading price of TOWNS on Mexc (currently reported at $0.049 per token), the potential value of each point is calculated to be $0.0049. This means that for every 10,000 points, users can obtain 2,500 tokens, estimated to have a value of $120 in token airdrop.