Airdrop news

A distribution of a cryptocurrency token or coin, usually for free, to a large number of wallet addresses.

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Crypto Airdrops Have a Bad Reputation but Vested AirHODLs Might Change the Narrative

Coinspeaker Crypto Airdrops Have a Bad Reputation but Vested AirHODLs Might Change the NarrativeAirdrops have grown to become a regular fixture in the cryptocurrency community. Airdrops are primarily designed to unlock lead generation for Blockchain projects, activate viral marketing, reward community members for their loyalty, and maybe trigger FOMO prior to launching a token sale.However, the 2017 ICO frenzy led to an explosion in the number of crypto projects and a subsequent bastardization of airdrops. Airdrops have largely failed to build vibrant communities around crypto projects.Here’s How Airdrops Were Designed to WorkThe history of airdrops dates to the earliest days of Ethereum and ERC20 tokens. In those days, there weren’t many crypto-literate people and the crypto community existed in fragmented silos. Hence, new blockchain projects would send their tokens into random Ethereum addresses. The owners of the addresses will see the free tokens, get curious about the project, do their research, and hopefully, become a part of its community.The Fatal Flaws of Current Airdrop ModelsThe first flaw of Airdrops is that they were presented as free money. It’s not uncommon to see marketing materials claiming “$XYZ millions worth of tokens to be airdropped”. This marketing is done even before the product that will support the token economy has been built.In the real sense, the market that determines the price of a token and not the issuer. The market calculates the intrinsic value of a project by looking at the product, team, and token utility among other factors. Hence, when projects assign an arbitrary value to the airdropped tokens of projects that haven’t been built; they often inadvertently create a community of freeloaders.The second flaw of the current airdrop models is that they attract opportunists who have no interest in the project, the team, or even the token itself. There are now hundreds of communities built around chasing down airdrops, getting as many “free” token as they can get, and then waiting eagerly to sell the tokens at the first opportunity they get.Such opportunists won’t actively promote the project beyond doing the bare minimum required to secure “free tokens” and they often promote the projects to like-minded opportunities rather than to potential users or patient long-term investors.The third flaw of current airdrop models is that they don’t have structures in place to ensure that people HODL the tokens. As soon as the token sale is completed, and the project is listed, the opportunists are the first to sell their tokens thereby creating FUD in the hearts of actual investors – the FUD could then trigger a selloff from which some projects never recover.Meet the New Model for Unlocking Maximum Value from AirdropsLast month, LiquidApps introduced the first ever Airdrop that included a vesting mechanism for the EOS community. There have been many talks about the DAPP token, its use in the DAPP Network, and its potential use cases in facilitating transactional ecosystems for EOS dAPPs. LiquidApps DAPP token airdrop model is designed to incorporate a vesting process into airdrops – and the model is aptly called Air-HODL.LiquidApps Air-HODL is built around the game theory to reward actual users of the DAPP Network as opposed to stakeholders who are more concerned about how to profit in the short term. LiquidApps is air-HODLing 100,000,000 DAPP that will be allocated and divided between all the accounts that hold EOS at block #36,568,000 (“Pioneer Holders”). The DAPP Generation is already on block 63,436,685 on its 144th sales cycle of 444 cycles.The DAPP tokens will be continuously vested over a 2-year period on a block by block basis. The 2 years vesting period has start counting after the launch of the DAPP Generation Event in February 26, 2019, and it will end on January 25, 2021. Token holders who withdraw their Air-HODLed tokens before it is fully vested will only get the pro-rata tokens while forfeiting the right to receive any additional token vestments.LiquidApps is also using Air-HODL to incentivize wallet holders to HODL their DAPP tokens and actively use it on the network to grow the DAPP network sustainably. The game theory mechanism also ensures that the forfeited tokens of wallet holders who sold their Air-HODLed tokens will be redistributed to the HODLers who didn’t sell their tokens.Finally, the new model will stimulate the active the use of DAPP Air-HODLed tokens during the vesting period, HODLers can stake their vested tokens after first allowing the smart contract to mark them as an active participant, selecting a package with a DSP, pushing the transaction, and executing a “stake” command.New cryptocurrency projects that want to take the airdropping route to achieve viral marketing for their projects will do well to copy LiquidApps by including a vesting mechanism. The goal of vested airdrops is to prevent dumps and increase the active use of your coins for its intended token economy.Crypto Airdrops Have a Bad Reputation but Vested AirHODLs Might Change the Narrative
Coinspeaker

Washington Elite A.I. Blockchain Summit Pre-Conference Events Include Rally, Street Teams And Airdrops

Washington, D.C, June 14, 2019 (GLOBE NEWSWIRE) -- (via Blockchain Wire) The U.S. capital hosts some of the world's best and brightest minds in crypto, artificial intelligence and identity June 21 - 22 during the Washington Elite AI and Blockchain Summit – Self Sovereign Identity Edition in Washington, D.C. Held in the Cambria Hotel Washington, DC Convention Center, this premier conference will showcase some of the biggest names and most exciting innovations in blockchain, AI and Identity. Exhibitors from all over the world will represent everything from augmented reality games where users find and claim real digital coins via the AIRCOINS smartphone app to a Hitting Your Hardcap workshop by DisPRuptive. Virginia startup, CYBR Token will be on-hand with Coineal, one of the industry's largest cryptocurrency exchanges that is performing their Initial Exchange Offering (IEO).New Speakers AddedThe exciting lineup of speakers at the conference will feature the likes of Valentin Preobrazhenskiy of LA Token, world renowned hacker, ...Full story available on Benzinga.com
Benzinga

Tron’s [TRX] block height breaches 10 million mark on BitTorrent token [BTT] airdrop day

Tron [TRX] has had a rollercoaster of a year, with several developments from the Tron Foundation as well as multiple price fluctuations on the charts. The latest news from the Tron roster however, was wildly celebrated by the TRX community after it was revealed that the Tron’s block height had crossed the 10 million threshold. Tronscan, a Tron blockchain analyzer, announced the same and tweeted, “#TRON block height has exceeded 10 million! A  huge milestone for @Tronfoundation According to #TRONSCAN, TRON block height has reached 10,010,680 TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.” At press time, the block height was at 10016633 with 1405 online nodes. The current maximum transactions per second was 1932421 TPS. The 2-week transaction chart further added that the number was at a two-week peak with 1.932 million transactions. Tron’s block height had breached the 9 million mark 34 days back, as the company was focused on being a major player in the DApp market, competing with other bigwigs such as Ethereum [ETH] and EOS. One of the main reasons for Tron’s recent uptrend has been the launch of Tron’s very own decentralized exchange, TRXMarket, which allowed the community to view Tron as a more viable investment option. The new milestone comes in the wake of a bull run during which the Justin Sun-led cryptocurrency’s price has shot up by more than 5 percent. Tron’s march forward also involved news about its major acquisition, BitTorrent. The company had announced that the fifth BitTorrent token [BTT] airdrop would take place on 11 June, following which the price of BTT took a hit. In a tweet, BitTorrent Inc. had said, “Are you ready for our 5th #airdrop? On June 11th at 00:00 UTC we will reward TRON $TRX holders with 990,000,000 $BTT. Learn more about our airdrop program, and the exchanges & wallets supporting it!” The post Tron’s [TRX] block height breaches 10 million mark on BitTorrent token [BTT] airdrop day appeared first on AMBCrypto.
AMBCrypto

Tron’s BitTorrent [BTT] announces fifth airdrop for 11 June; token’s price tumbles in the market

Tron’s BitTorrent token [BTT], despite being launched only a few months back, has successfully climbed up the ranking ladder of CoinMarketCap. On 11 June, BitTorrent Foundation is set to carry out its fifth airdrop wherein Tron [TRX] holders will receive part of 990,000,000 BTT. BitTorrent Inc. announced the airdrop through a Twitter post, “Are you ready for our 5th #airdrop? On June 11th at 00:00 UTC we will reward TRON $TRX holders with 990,000,000 $BTT. Learn more about our airdrop program, and the exchanges & wallets supporting it!” The Foundation had organized its first airdrop on February 11, 2019, when Tron’s block height reached 6.6 million. During that instance, 10.890 billion BTT corresponding to its 1.1% total supply were airdropped. The Foundation had later announced 12 such airdrops and added, “In 2020, the BitTorrent Foundation will airdrop 12,870,000,000 BTT, corresponding to 1.3% of the total supply, and over the next six years, the percentage airdropped will increase by 0.1% per year, reaching 1.7% in 2025.” The BTT ecosystem welcomed such developments towards increasing the adoption of the token, by making BTT token available to uTorrent and BitTorrent users. BitTorrent Speed, another application will see its launch soon and would help users gain BTT in exchange for seeding and bandwidth to help them with faster downloads. However, guest access to this application did not clarify the system of how users can earn more BTT and failed to impress them with its speed. Twitter user, @_theperfesser, who used this app said that the download without Speed was ‘slightly faster’ “These speeds did not coincide with the seemingly random speed figures shown in the dashboard. This is consistent with my assumption that this test version was UI focused and that maybe the Dashboard is just simulating the functionality for UX testing purposes.” BTT was falling by 7.68% over the past day and was valued at $0.0011, with a market cap of $250 million. The 24-hour trading volume of the coin was noted to be $55.111 million, as it fell by 25.59% over the past week and continued to tumble by 0.49% within the hour, at press time. The post Tron’s BitTorrent [BTT] announces fifth airdrop for 11 June; token’s price tumbles in the market appeared first on AMBCrypto.
AMBCrypto

Airdrop Takes 60% of Ethereum’s Network

A token no one has heard of is eating 60% of ethereum’s capacity through an airdrop to countless of accounts. More Gold Coin, which doesn’t even have a website that...
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Cryptocurrency influencers react to Facebook’s Libra, boon or risk for Bitcoin?

Some of the most prominent figures in the crypto community took to Twitter to share their thoughts on Facebook’s Libra cryptocurrency. While some claim that Libra lacks the necessary features to compete with Bitcoin in the race to become the world’s currency, others argue that it could destroy most altcoins and stablecoins in the market. 2/ Libra's mission is to enable a simple global currency and financial infrastructure that empowers billions of people. — David Marcus (@davidmarcus) June 18, 2019 Facebook’s Libra Facebook’s highly anticipated cryptocurrency was finally unveiled. “[It] is a new global cryptocurrency, built on an open-source blockchain called the Libra Blockchain featuring its own proof-of-stake protocol,” said the whitepaper. The term “global cryptocurrency” comes from the fact that it nodes will be distributed across the globe and it is not pegged to a single fiat currency, according to the documents. Instead, it will be backed by different real-world assets denominated in the American dollar, British pound, Japanese yen, and the euro and other low-risk securities. The Libra Association, a Switzerland-based non-profit, will release the Libra blockchain in 2020 with a group of 28 founding members that will be in charge of validating transactions in the network. The list of network validators include Visa, Mastercard, Paypal, Uber, Lyft, eBay, and others, that have invested around $10 million to be part of the board and operate a node. Facebook also launched a new subsidiary called Calibra, which is a digital wallet designed to “provide financial services that will enable people to access and participate in the Libra network.” With Facebook’s gigantic user base and its ability to leverage WhatsApp, Messenger, and Instagram, Calibra will instantaneously compete with the world’s most popular existing wallets and exchanges, such as Coinbase, RobinHood, CashApp, and others. Even though this is a massive play for Facebook for entering the financial services industry, the cryptocurrency community expressed a mixture of concern, distrust, and excitement. Many took to Twitter to express their sentiment about the recent move by the social network giant. Crypto Twitter’s reaction Anthony Sassano, the co-founder of EthHub, points out that in order to sign up for Calibra, a government-issued ID is required to “comply with laws and prevent fraud.” 2/ To get started with Calibra, you'll need a government-issued ID to sign up for an account and the website states that "identity verification is important to comply with laws and prevent fraud, so you know people are who they say they are." Well, of course 😅 — Anthony Sassano (@sassal0x) June 18, 2019 According to @AkadoSand, this KYC procedure poses a major security risk for its users since the first time a transaction is made from an account, any future transactions will be linked to it as well as any other sensitive information. $LIBRA will be the best thing that will happen to chain analysis and LE. From the moment you make a single tx, your id will be linked to it and all future txs forever Like BTC but as soon as you use it you're automatically KYC'ed. Profile, location, timestamps, preferences, etc — Akado 'Bitcoin Halving in 339 days' Sang (@AkadoSang) June 16, 2019 With a user base of two billion people, Changpeng Zhao, the founder and CEO of Binance, believes that Facebook will not only have access to its users names, IDs, addresses, phone numbers, family members, friends, real-time and historic location, but with the introduction of Calibra, it will now gain access to their financial data. Facebook Libra coin don't need KYC. They have so much more data on the 2 billion people. Not just name, id, address, phone number. They know your family, friends, real-time/historic location, what you like… They know you more than yourself. And now your wallet too. Best AML! — CZ Binance (@cz_binance) June 18, 2019 Such a vast amount of information under a central authority could lead to a “disaster in slow motion,” as Tamas Blummer, a Bitcoin Core developer, indicates. The VP at CoinTerra suggests that technical features of Libra, such as “account model, generic language, [and] on-chain scaling,” makes it more of an Ethereum competitor than Bitcoin. Libra resembles Ethereum more than Bitcoin. It contains all the features that make Ethereum garbage. account model, generic language, gas, on-chain scaling with sharding, some BFT consenus. In addition it has to implement all KCY and AML. A sure disaster in slow motion. — Tamas Blummer (@TamasBlummer) June 18, 2019 Along the same lines, Pavol Rusnak, CTO at SatoshiLabs, and Ran Neu-Ner, CEO of Onchain Capital,  asserted that Facebook’s new cryptocurrency could have the potential to replace altcoins and stablecoins, but it will fail against Bitcoin. Facebook just gave Bitcoin its biggest boost ever and also rendered 90% of alts useless at the same time. — Ran NeuNer (@cryptomanran) June 18, 2019 The fact that Libra is not decentralized or censorship resistant, while its legal and tax status remains unclear— as Larry Cermak, research director at The Block Crypto pointed out—reduces its chances of becoming “the Bitcoin killer.” Just so we are clear, Libra is:– not decentralized– not censorship resistant– not guaranteed to work technologically – not guaranteed to be cleared by regulators– not clear in regards to tax implications — Larry Cermak (@lawmaster) June 18, 2019 To Peter Todd, a Bitcoin Core developer, Libra is indeed just an “unscalable centralized database,” but to Saifaden Ammous, author of The Bitcoin Standard, it is actually the only cryptocurrency other than Bitcoin that has the potential to succeed. Libra whitepaper initial analysis: The only digital currency other than bitcoin that matters, and it could succeed massively. But it does not compete with bitcoin, it reinforces bitcoin's value proposition, and will likely need to rely on bitcoin if it succeeds. Thread👇 — Saifedean Ammous (@saifedean) June 18, 2019 Libra is still one year away from being launched and its impact on the cryptocurrency market remains to be seen. As Facebook advertises its new project to its 2 billion customers, more people will be exposed to the terms “cryptocurrency” and “blockchain,” which could bring more attention into the market. The overall sentiment across the crypto community can be summed up in one tweet by Alistair Milne, CIO at Atlanta Digital Currency Fund. Sell Libra, buy Bitcoin — Alistair Milne (@alistairmilne) June 18, 2019 The post Cryptocurrency influencers react to Facebook’s Libra, boon or risk for Bitcoin? appeared first on CryptoSlate.
Cryptoslate

Facebook unveils Libra cryptocurrency

Facebook announced its own cryptocurrency Libra that will be backed and controlled by the Libra Association which also includes founding members Uber, Lyft and Spotify. The platform will allow users to buy and send money without racking up as many fees as traditional financial platforms. Users can buy or cash out the cryptocurrency at local exchange points and spend it using interoperable third-party wallet apps, according to a Libra whitepaper. The cryptocurrency also claims to make it easier to send money between countries for less that it would cost with traditional providers. Facebook is also launching a subsidiary called Calibra to handle its crypto dealings and protect user privacy by keeping Libra payments and Facebook data separate so that it won’t be used for targeted advertising. User identities also won’t be tied to publicly visible transactions but Libra association members will earn interest on money that users cash in. That interest will be held in reserve to keep the value of the currency stable. ProPrivacy.com digital privacy expert Ray Walsh expressed doubts about the platform given Facebook’s track record for protecting consumer data. “Considering that Facebook is already the second largest advertiser in the world (second only to Google), this added integration is concerning,” Walsh said. “The idea that social data and financial data could be combined is worrying, and although Facebook claims that it will keep the distinct data sets at arm’s length – it is hard to believe that consumer habits will not be tracked in order to allow Facebook to better serve ads,” he said. Walsh contended because Facebook produces the majority of its revenue through ads and has proven untrustworthy with consumer data on several occasions in the past, it seems unlikely that the company does not plan to exploit as much consumer data as legally permitted. The post Facebook unveils Libra cryptocurrency appeared first on SC Media.
SC Media

CNBC Video: Jim Cramer Calls Facebook’s Libra Cryptocurrency Coin Brilliant After Reading Whitepaper

Facebook Officially Announces The Creation Of Its Cryptocurrency Libra, CNBC’s Cramer Says the Project Is Brilliant Today, Facebook finally announced its most awaited project, Libra. According to the organization, a new Facebook regulated subsidiary called Calibra was created in order to manage the project and to create a new wallet based on the service. The head of […]
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