A prominent project at Binance Alpha in recent days that my friends requested me to analyze. It is the Towns (TOWNS) project. This project has been announced by Binance to be listed on the 30th on Binance Hodler Airdrop.


Towns (TOWNS) is an open protocol for private group chats with on-chain member participation. To understand more about what Towns (TOWNS) is? And how to participate in the Binance Hodler Airdrop to receive exclusive tokens by holding BNB at Binance, let’s explore this article with Trading Insight!

What is Towns (TOWNS)?

Towns is a project, a decentralized "CHAT" protocol built on Blockchain. It allows each user to create and fully own communities called "Spaces" through NFT Membership like a Discord framework on the blockchain but truly decentralized.

Because the entire infrastructure is integrated with token economics but without censorship, while ensuring security. Free from control while maintaining good usability.


Highlights of the Towns (TOWNS) Project

Towns is not just a chat platform, but a movement to change how communities operate in Web3, connecting, managing, and creating. The fastest way to understand the project is to quickly review some highlights of Towns with Trading Insight!

  • Over 460,529 Spaces created

  • Achieved over +1.7m+ members

  • Revenue generated over +9.3k ETH

  • Special space owners over 380k+

  • Processing speed of over 10,000 messages/s with zero cost

  • Message security is absolutely guaranteed.

  • Building each community is an NFT and can be ready for trading.

  • Real ownership without control.

  • Users creating communities can earn income from membership fees, tips, or from automatic revenue sharing.

  • The backer and partner lineup is extremely strong, supported by a16z, Paradigm, Coinbase Ventures, and a professional development team from Google, Twitter, Coinbase, and a list of major partners in the industry.

  • Practical application used like similar social platforms but is a decentralized product, with full rights belonging to the users.

  • Strict control, completely free from being affected by spam or bots.

  • Unlimited building and customization.

CURRENT PRODUCTS OF SUCCINCT (PROVE)

TOWNS is not just a simple messaging application, but a complete toolkit for the Crypto and web3 community. Built on the infrastructure of River Protocol, Towns provides many products and features to optimize community building, operation, and development from decentralized chat groups. Towns is built on 5 core products that create the true values of Towns, let's quickly explore with the team:

  1. Create a Town: Users can create a customized chat space for themselves, allowing users to build their own space in a decentralized manner with complete settings such as:

    • Set access rights (free, paid, via whitelist, NFT...)

    • Manage member numbers and roles

    • Customize moderation rights, channel structure, roles, governance tools

  2. Trade - This is the NFT and token trading feature right within the chat group. Users or those chatting can exchange assets or participate in auctions or like a decentralized marketplace contained within the community group.

  3. Farm - Not just a chat project but also supports staking and on-chain farming mechanisms through wallet integration and smart contracts.

  4. POOL - This feature allows users to collectively organize, donate or create pools to serve common needs or purposes through the community.

  5. Lending is a feature direction that allows users to borrow assets or lend assets directly in each channel.

The model and operation of Towns

The operating process of the Towns Protocol is as follows:

1. Create Space by Minting NFT on Base L2 to start owning the chat group.

2. Participants need to -> Buy NFT membership (ERC-721) to enter the Space.

3. Messaging

4. Data is recorded on Towns Chain every 2 seconds (ZK-Rollups).

5. Can earn money through automatic revenue sharing from membership fees via smart contracts.

6. Participate in governance when $TOWNS holders vote to upgrade the protocol via DAO.

Project backers and funding rounds of the project

Towns has completed two important funding rounds, on 23/02/2023, the project successfully raised $25.5 million in Series A, led by Andreessen Horowitz (a16z crypto), with participation from Framework Ventures and Benchmark.

The second round is on 10/04/2025, Towns continues to raise an additional $10 million in Series B, with a16z crypto continuing to lead, along with other strategic investors such as Coinbase Ventures and Benchmark.

Tokenomics Details

Detailed information according to the Docs data provided by the project on token allocation is as follows:

  • Investor ~ 13.74%

  • Public Investor ~ 2.62%

  • Initial Airdrop ~ 14.98%

  • Community Reserve ~ 33.63%

  • Team ~ 21.46%

  • Liquidity ~ 4.2%

  • Nodes Year 1 ~ 7.90%

  • Node Inflation ~ 1.27%

Token release schedule

Below is the forecast for circulating supply in the 6 months after the Token Generation Event (TGE):

Details about the TOWNS HODLer Airdrop program

  • Token name: Towns (TOWNS)

  • Total Genesis token supply: 10,128,177,374 TOWNS

  • Maximum token supply: 15,327,827,980 TOWNS

  • HODLer Airdrop token rewards: 305,848,461 TOWNS (accounting for 3.02% of the total genesis token supply)

  • Circulating supply upon listing on Binance: 2,109,362,819 TOWNS (accounting for 20.83% of the total genesis token supply)

What is Binance's HODLer Airdrops?

Binance's HODLer Airdrop rewards are exclusive token rewards for BNB holders based on historical snapshots of their BNB balances in Simple Earn Flexible or Locked products. By staking BNB into On-Chain Yields, users will automatically qualify for HODLer Airdrops and Launchpool rewards.

Simple Earn subscribers automatically qualify for token rewards without any additional actions.

Benefits of HODLer Airdrops:

  1. Passive rewards: Earn tokens based on the amount of BNB held in the past without needing to participate actively.

  2. Eligible for multiple rewards: Qualify for Launchpool, Megadrop, and HODLer Airdrops simultaneously.

  3. Convenience: The snapshots are taken hourly, ensuring fair distribution.

How to participate in future HODLer Airdrops

  1. Go to the [EARN] section on Binance.

  2. Search for BNB and register for Simple Earn Flexible or Locked products.

  3. Binance will use historical snapshots of user balances to calculate rewards, which will be distributed to eligible Spot Wallets within 24 hours after the airdrop announcement.

Summary

TOWNS is not just a chat application project but also a decentralized protocol designed specifically for the web 3 or crypto community. A fully verified project but not controlled while ensuring good security. This could also be a new platform or something special in the wave of a new breeze.


However, it is important to note the volatility of the token, especially when the project is newly deployed and developed. The value of the token can be significantly influenced by the market and external factors. The Trading Insight information is provided from reference data sources and is not investment advice.

For any new project, taking the time to learn and research thoroughly is extremely important. Trading Insight will always provide comprehensive information and knowledge to help you gain a better understanding of the market, both in the present and the future. Don’t forget to follow and interact with Trading Insight for the latest updates!
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