The discussion on Twitter about the recession of the Fake Market has also triggered some thoughts of mine. I would like to record it on the occasion of SEI and CC airdrops. Everyone is welcome to exchange ideas and discuss.
content include:
1. Understanding the logic of web3 project airdrops from the perspective of web2
2. Three Questions about Hair Pulling
3. Profit and loss ratio analysis
——Understanding the logic of web3 project airdrops from the perspective of web2 Regarding the nature of token airdrops, I will think about and understand it from the perspective of web2 products. For example, in the early "Hundred Regiments War", all apps would give you free red envelope coupons, free meals for the first takeaway, and other activities, which could attract a large number of seed users in a short period of time. On the one hand, user data can be used as an achievement to attract financing, and on the other hand, user usage habits will also be fed back to promote the continuous iteration and update of products. Similarly, web3 projects also need user data for financing and as bargaining chips for negotiations with exchanges. Providing a certain degree of incentives to previous ecosystem builders and contributors will stimulate users' enthusiasm for participating in the project and encourage more builders to participate in the ecosystem. After users obtain airdrop tokens, they can trade in the secondary market, and trading activity and liquidity will be greatly improved. High-frequency trading turnover will also attract market attention. On the other hand, these tokens may be used in various scenarios in the project ecosystem, such as staking, voting, and trading, which will help promote the prosperity and development of the project ecosystem and lay the foundation for the long-term development of the project. In summary, these interests drive project owners to share their success with users in the form of airdrops. So the question is, if you are a project owner, will you change your mind when there is a lower cost to maintain the construction of the ecosystem, or when airdrops only produce marginal benefits?
——Three Questions for LuMao Question 1: Can the cost of the project party's incentives to the builders of the previous ecology (i.e. airdrops) cover the cost of attracting future builders and contributors? Will we pay attention to and build the ecology because of the existing airdrops? Will the project party consider this and not do incentives? At present, the positive examples are $OP and $ARB, which are doing very well, and the negative example is $APT. Question 2: To a certain extent, in fact, the wealth effect caused by the previous $ARB, $APT and other simple and easy-to-use big hair has attracted future builders to interact with other projects with higher expectations (various public chains, L2 series) to a certain extent? The predecessors planted trees, and the descendants enjoyed the shade. These L2s that have not yet issued coins can be said to have eaten up the dividends, so they do not need to do too much publicity. They only need to inadvertently reveal the financing news, show off TX and occasionally send pictures with time and date, and they can PUA users to their heart's content and win market attention. If they issue airdrops at this time, will they "lose money more than they earn" due to marginal effects, thereby reducing the share of airdrops? Question 3: The rules of the airdrop are completely controlled by the project party. It is a perfect arrangement of the insider warehouse. The wool-pullers and the project party seem to have signed an opaque and unequal agreement. Party B (the wool-pullers) are completely in an information-asymmetric position. How can we ensure that those strange short-selling rules are not prepared by the project party for its outsourced wool-pulling team? Considering the above problems, if I were a certain L2 project party, I would either restrict the airdrop with harsh rules, or use the sunshine approach to give you bone soup slightly higher than gas to get rid of you. What? You said you still have labor costs? What does it have to do with me? I airdropped to my ecological builders. If you are a hypocritical Builder who came for my airdrop, it would be nice to give you a sip of soup? What? You said I am a garbage chain and will never use it in the future? Then after listing, I will pull the market crazily and send a few hundred-fold local dogs. Do you use it?
——Profit and loss ratio analysis
I won’t go into details here, I recommend you to read the tweets of Shenchao and @0xNing0x