1. Project Overview
#币安HODLer空投TOWNS Towns Protocol is a decentralized social protocol based on blockchain, positioned as the 'Web3 version of Discord', aiming to reconstruct the community ownership model. Its core functions include:
- On-chain Community Governance: Each community (Town) exists in the form of NFTs, supporting transfer, trading, and DAO custody.
- Programmable Social Scenarios: Supports paid channels, NFT trading, voting systems, and other customized features.
- Privacy and Security: End-to-end encrypted communication + distributed node network for message storage.
Financing Background: Cumulative financing of $46 million (officially disclosed), with leading investors including a16z, Coinbase Ventures, Benchmark, and other top institutions.
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2. Token Economic Model Analysis
Token Basic Information
- Total Supply: 10.128 billion (initial), final inflation total of 15.3 billion.
- Initial Circulation: 20.8% (about 2.1 billion tokens).
- Three-chain Deployment: ETH, BASE, BSC (contract addresses have been disclosed).
Token distribution and unlocking rhythm
| Category | Proportion | Details | Selling Pressure Risk |
| Institutional Investors | 16.3% | Average cost of the first and second rounds at $0.028 | Medium (locked) |
| Team | 21.5% | Gradual unlocking mechanism | Low (long-term) |
| Airdrop | 9.9% | Includes Alpha airdrop, community airdrop | High (TGE release) |
| Foundation Reserves | 43.14% | 6% initial circulation + remaining long-term incentives | Medium (staged release) |
| Node Incentives | 9.17% | 7.9% released in the first year | Medium |
Key Data:
- Initial Selling Pressure: Airdrop (9.9%) + Foundation (4%) ≈ 13.9%, corresponding to about 1.4 billion tokens.
- Institutional Cost: Average financing price $0.028, MEXC pre-market price $0.08 (premium of 186%).
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3. Core Highlights of the Project
1. Real Income Support:
- Protocol cumulative revenue exceeds $35 million (data from July 2025), growing 50% in two months.
- The buyback and burn mechanism has destroyed $3.5 million worth of tokens.
2. Rapid Ecological Growth:
- Created 446,000 community spaces, with 573,000 users and 397,000 point users.
- Integrates top protocols like Lens, Uniswap, to expand DeFi and NFT scenarios.
3. Technical Architecture Advantages:
- Three-layer architecture (Layer 2 chain + decentralized nodes + smart contracts), balancing high performance and security.
- Based on the Base chain, low gas cost (single interaction <$0.1).
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4. Market Risks and Challenges
1. Concentrated Airdrop Selling Pressure:
- Nearly 14% of tokens will be released at TGE, combined with a pre-market selling pressure of 110 million from MEXC, putting short-term price under pressure.
- Among point users, 75% hold only 1,000-5,000 points (estimated airdrop of $120 per account), which may choose to cash out quickly.
2. Exchange Compliance Restrictions:
- Coinbase/Upbit and others require 'no new financing within six months', current institutional holdings may be restricted.
3. Competition and User Habits:
- Need to break through user inertia on Web2 platforms like Discord/Telegram, with ecological expansion relying on developer support.
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5. Investment Strategy Recommendations
Short term (1-3 months):
- Bearish Logic: Airdrop selling pressure (13.9%) + excessive pre-market premium ($0.08 vs institutional cost $0.028), target price <$0.03.
- Operational Recommendations:
- Airdrop recipients may reduce holdings at high points to avoid liquidity crashes after TGE.
- Pay attention to Binance Alpha airdrop details (points needed), low point users have limited participation value.
Medium to Long Term (6-12 months):
- Bullish Logic:
- Foundation reserves (43.14%) are used for ecological incentives, which may succeed in community governance or create new demand.
- Real income growth + token burn mechanism may support value capture.
- Timing for Investment:
- If the coin price pulls back to around $0.03 (close to institutional cost), incremental buying can be considered.
- Track node staking progress (first-year incentives account for 7.9%) and DAO governance implementation.
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6. Summary
It is recommended to take profits in batches when the price reaches 0.75-0.1
Towns Protocol has a first-mover advantage in the Web3 social track, with impressive technical architecture and revenue performance, but faces short-term selling pressure from airdrops and compliance pressures from exchanges. It is recommended that investors avoid initial volatility at TGE and pay attention to on-chain data (such as community growth, burn volume) after the selling pressure is released before considering entry. Those with a higher risk appetite can participate in Alpha airdrops with small positions but should be wary of liquidity risks.
«Data Source: Towns White Paper, Official Twitter, BaseScan, PANews.»
