Nexo's token airdrop campaign will give users access to a pool with 10 million NEXO tokens by engaging with their digital asset products.
The post Nexo announces $12 million token airdrop for platform users appeared first on Crypto Briefing.
Airdrop
Token distribution tactics should focus on real value, not hype, says Uniswap founder
Uniswap's Hayden Adams critiques token distribution tactics, urging a focus on value and ethical practices in the crypto industry.
The post Token distribution tactics should focus on real value, not hype, says Uniswap founder appeared first on Crypto Briefing.
LayerZero tackles sybil activity with self-reporting mechanism
LayerZero Labs will enforce consequences for those who don’t self-report by May 17, 2024.
LayerZero Labs has unveiled a solution to address sybil activity, often known as ‘airdrop farming.' The creator of the cross-chain communication protocol introduced a self-reporting mechanism, offering sybil users 15% of their planned token allocation for honesty within a defined 14-day period.
The developer stated in a May 3 post on X that it believes it’s important for their protocol to distribute tokens to genuine, committed network users rather than individuals who engage in sybil farming.
Sybil farming refers to the practice of creating multiple fake accounts to unfairly acquire tokens or rewards. The developers want to ensure that their token distribution benefits those who contribute positively to the network’s growth and sustainability rather than those who exploit it through deceptive tactics like sybil farming.
Friend.tech’s FRIEND Token Airdrop Faces Steep Decline Since Market Debut
Friend.tech, the decentralized social media application on the Base network, recently launched its native token through an airdrop. Since trading commenced, the token has plummeted, dropping anywhere from 50% to 90% of its initial value across various decentralized exchange (dex) platforms, as reported by several different price aggregation websites. FRIEND Starts Strong but Value Plummets […]LayerZero Labs announces snapshot of its native token airdrop
LayerZero Labs announces a snapshot for its native token airdrop, with over 5.8 million wallets participating in the service.
The post LayerZero Labs announces snapshot of its native token airdrop appeared first on Crypto Briefing.
Eigenlayer’s Airdrop Faces Backlash Over Token Restrictions and Minimal Allocations
The announcement of Eigenlayer’s airdrop, featuring non-transferable tokens and aggressive geo-restrictions, has sparked outrage among users who felt the allocated amount was minimal and the documentation confusing. Despite adding over $15.7 billion in staked Ether in anticipation, participants criticized the linear distribution model favoring large restakers and the stringent geographic limits excluding users from 30 […]EigenLayer unveils EIGEN token with an airdrop set to May 10
The Eigen Foundation's new EIGEN token will be airdropped to Ethereum stakers on May 10, granting 5% of the token's total supply.
The post EigenLayer unveils EIGEN token with an airdrop set to May 10 appeared first on Crypto Briefing.
Mode TVL soars 140% as users hunt for airdrops
Mode's TVL hits $344 million, driven by user participation in the Turbo Points campaign for anticipated token airdrops.
The post Mode TVL soars 140% as users hunt for airdrops appeared first on Crypto Briefing.
Blackrock’s Bitcoin ETF Wallets Hold Over $20,000 in Runes Tokens, Arkham Data Shows
Amid the excitement of Bitcoin’s new Runes protocol, Blackrock’s exchange-traded fund (ETF) wallets now contain over $20,000 worth of RSIC•GENESIS•RUNE tokens. Blackrock’s IBIT Benefits From Airdropped Runes Tokens On Thursday, Arkham, an onchain intelligence firm, revealed on social media platform X that two of Blackrock‘s IBIT bitcoin addresses possess tokens based on the Runes protocol. […]Token airdrops targeted by farm accounts and ‘Sybil attacks’
Airdrop squatters are creating fake accounts on platforms for the sole purpose of farming airdrop tokens, thus taking away share from loyal users.
Amid surging prices, many crypto projects have seen a rise in fake farm accounts, or “Sybil attacks,” named so after a book about a woman with many personalities. These fake accounts create artificial network activity to claim as many tokens as possible during airdrop events, which have become highly lucrative over the years.
“We’ve recently taken action by banning approximately 2,000 users whom we suspect were farming Degen,” creators of the Degen memecoin project, which was built on the Farcaster social media protocol, wrote on X. "Taking part in Degen farming, such as coordinated posting or artificial engagement, could lead to bans.”
The Degen airdrop is ongoing until Aug. 1 and will reward users who engage with or create quality content posted on Farcaster social channels. However, it appears that a sizable number of users began posting sub-par content for the sole purpose of earning airdrop points. “Joining organized actions mainly to earn tokens and posting unrelated content in boosted channels" will result in bans, Degen developers wrote.