#加密立法新纪元 Is it worth participating in the second phase -- Binance New Booster @BASCAN_io in-depth analysis: Is the BAS airdrop 'Pork Rice' or 'Big Hair'?
Yesterday in the group, everyone was passionately discussing, 'The new Binance activity is here, the participation threshold is very high, it must be a big deal,' only then did I realize that the second phase of Booster has arrived.
This time is a simple ##SoftStaking , a set of native verification and reputation layer services. In simple terms, it is an infrastructure used to help other applications (dApps) verify the authenticity of various information. The scope of this 'information' is very broad, it can be whether you have completed KYC certification, whether you hold a specific asset in your wallet, or whether you have participated in a certain on-chain activity.
We can calculate that the fully diluted valuation (FDV) at the time of public offering for BAS is 10 million USD. However, everyone knows that Binance Alpha's TGE must be profitable, so the opening price can refer to similar projects on BSC -- @SpaceIDProtocol which participated in Binance Launchpool. The ID's launch FDV is about 50M. Although Pre-TGE cannot be compared to Launchpool. But based on a 60% valuation at launch, BAS still has a high probability of pushing towards a 30M - 50M launch FDV. Thus, the profit from a TGE would be about 3 times, deducting 10 ALPHA points is still acceptable. Calculating this way, we can assume an opening price of $0.003 - $0.005.
The biggest influencing factor for this Booster is that the activity's rewards have a lock-up period.
Week 1-2 Reward: TGE (Token Generation Event) unlocks on the same day
Week 3-4 Reward: TGE + 30 days unlock
Week 5-6 Reward: TGE + 60 days unlock
Week 7-9 Reward: TGE + 90 days unlock
Week 10-12 Reward: TGE + 120 days unlock
According to the rules of the first week's activities, the rewards for the first week are directly unlocked at TGE, so we can initially ignore the issue of lock-up.
The rewards for Task Three and Task Completion are obtained through a lottery, while Tasks Four and Five are on a first-come, first-served basis, totaling 60,000 spots. If the final number of participants is less than 60,000, then all participants will share equally. I believe this setting is the biggest variable for this Booster. As of now (July 18, 3 PM), 20,000 people have participated in Task Four, and 15,000 in Task Five. The total prize pool for each task is 25,600,000. Assuming 60,000 participants, the reward for each task would be 428 $BAS. Assuming Task Three and the final task completion rewards do not win, the minimum is still 956 $BAS. However, there is a cost to completing tasks; the cost for the first week is 0.0022 $BNB plus a small amount of GAS fees, approximately 1.7 U. Therefore, we can calculate the profits as shown (left image for 60,000 participants, right image for 30,000 participants).
To be honest, when I saw this profit, I felt it couldn't really be called 'Pork Rice' anymore. If luck is bad, even a meal at a Shaxian restaurant would be quite hard to swallow.
So, whether to participate still depends on the final number of participants, after all, this is closely related to the rewards. The best strategy for this Binance Booster is to observe until the last day of this week. If the count hasn't reached thirty thousand, then feel free to participate, as the rewards will be larger than those from the first phase of Booster. If it’s between thirty thousand and sixty thousand, then consider whether it’s worth spending the time and cost to participate in a project that will not launch for another three months.
What? You ask me what will happen if on the last day, the first 60,000 people hit the tasks and can't get the rewards for Task 4 and Task 5? My opinion is: if the tasks in the first week are really completed by 60,000 people, then there will basically be no profit. Not participating is the best option. 😅