GuShiio.com NFT holders earned a maximum of US$55.77 million.
Author: Frank, PANews
Berachain, the first major project launched in the Year of the Snake, officially launched airdrop distribution on February 6. Judging from the market trend, its token BERA showed a script of opening low and moving high after it was launched. The price soared from US$7.5 to a maximum of US$15.5, and the initial circulating market value also reached US$1.58 billion.
However, this Berachain’s airdrop allocation has caused a lot of controversy on social media. Many testnet users said that the official allocation to testnet users is only 1.65%, while the allocation to Binance users and NFT holders is 2% and 6.9% respectively, which aroused community dissatisfaction.
Since Berachain did not launch a data dashboard for this airdrop, the official browser does not support viewing specific airdrop smart contract statistics.
Therefore, PANews can only calculate and speculate on Berachain’s airdrop situation based on some known data.
Six large NFT households received a value of US$306 million, and the highest single address received US$55.77 million
According to the official airdrop instructions, holders of Bong Bears NFT or successors (Bond, Boo, Baby, Band, Bit Bears) can receive a total of 34.5 million airdrop tokens.
Review how many NFTs are there? According to official instructions, there are 6 NFTs involving airdrops this time, including 107 Bong Bears NFTs, 126 The Bond Bears, 270 The Boo Bears, 570 The Baby Bears, 2298 Bit Bears by Berachain, and 1162 The Band Bears.
The total amount is approximately 4533 NFTs, and each NFT can receive an average of 6553 tokens. Based on a maximum price of US$15.5, these NFT holders can receive a maximum of US$101,000. Of course, this allocation should not be evenly distributed, but based on the scarcity of each NFT.
According to PANNews, the single most allocated NFT series is the Bong Bears NFT, with each NFT receiving 48797 tokens, with a maximum value of approximately US$756,000. The Bond Bears came second, and also received 39115 tokens, totaling approximately US$606,000.
Because NFT holdings are often concentrated in the hands of some large households. For example, 0x6b1C… The address A89c holds 89 The Bond Bears, accounting for 70% of the circulation. After inquiry, the address received 3.598 million tokens, with a maximum value of approximately US$55.77 million. The highest transaction price of this series of NFTs reached 140 ETH (worth US$378,000) on the evening of February 6. Based on this calculation, the total value of 92 NFTs is approximately US$34.77 million, which is still lower than the income from airdrops. Currently, the price of this series of NFT has dropped to around 10 ETH.
According to PANNews, it was found that the vast majority of the allocations of these NFT holders are concentrated among several large households. The six large households with the largest positions have a total of 19.78 million tokens that can be allocated, with a maximum value of approximately US$306 million. These six large households allocated an average of 3.29 million tokens per address. The number of tokens received by these six large households alone far exceeded the total airdrop quota of 8.25 million tokens at millions of addresses on the test network.
Test net users will have a minimum living allowance of US$60
Contrary to the style of NFT holders getting rich quickly, the total allocation of test net users is 8.25 million. According to previous media reports, as of January 2, the cumulative number of wallets participating in Berachain’s PoL mechanism has exceeded 2.38 million, and the average number of tokens that can be allocated to each wallet is approximately 3.46 tokens, with a maximum value of approximately US$53.7.
Looking back at the overall situation, the total number of airdrops this time is approximately 79 million tokens. As of February 7, the official website has approximately 730,000 coin holding addresses, and the average number of airdrops per address is approximately 108 (actual data may be lower, because some users have not received them and there is a delay in unlocking the tokens). From the chain point of view, the lowest number of airdrops should be 3.92, with a maximum value of about US$60.
However, compared with recent airdrops, the total size of Berachain’s airdrops is approximately US$592 million (based on the opening price of US$7.50), which is similar to HYPE. In terms of the airdrop allocated to the highest single address, Berachain’s largest single address allocated an airdrop amount of US$55.77 million, the highest in recent projects. However, judging from the subsistence allowance of 3.92 tokens, this level may be the lowest among several recent major airdrop projects. From this perspective, the gap between rich and poor on Berachain’s airdrop seems a bit wide.
The gap between rich and poor is large, can VC unlock it in disguise?
Airdrop matching has also caused dissatisfaction among many early users who made large contributions to the Berachain test website. In particular, the total number of airdrops for testnet users is only 1.65%, while the total number of Binance users is as high as 2%, and the number of NFT holders reaches 6.9%.
In response, the official explanation is that without Bong Bears and its subsequent derivatives, Berachain would never exist. NFT predates the chain, and NFT holders have always been one of the oldest and most supportive members of the Berachain community, and countless holders have grown to launch their own dApps or community plans within the ecosystem. rdquo;
The explanation for Binance user allocation is: Berachain has great respect for the BSC chain.
In addition, Berachain’s VC revenue is also one of the focuses of the market. DYR founder hitesh.eth posted on X that Berachain allocated approximately 34.3% of its supply to VCs, and the average entry price for VCs was approximately US$0.82. If BERA matches SUI’s unrealized VC gains (about 15 times), the token should be priced above $15 at launch, but hitesh-eth believes this probability is low. If the token matches Sei’s unrealized VC gains (approximately 10 times), its listing price should be higher than $10. As a result, the bull market price of BERA will be between $10 and $15, and the bear market price will be between $5 and $10.
Judging from the price trend after the event, BERA’s price did break through US$15 for a short time. However, there is still one year left for VCs to unlock, and the price at that time is currently unpredictable. However, some KOL said on social media that Berachain’s ununlocked tokens can be pledged to receive rewards, which is undoubtedly another way of monetization and unlocking. This behavior also aroused doubts from the community.
After breaking through US$15.5 for a short time, BERA began to fall rapidly, falling to a minimum of US$6.7, a correction of more than half. In this regard, Rui of HashKey Capital believes that the reasons for this phenomenon are: on the one hand, the overall market liquidity level is very poor, and on the other hand, the volume of short selling when it is not optimistic has reached its peak this time.” rdquo;
According to data on the chain, the number of transactions on Berachain’s main online website exceeded 1.14 million, and the number of independent addresses exceeded 140,000. As airdrops continue to apply, these figures should continue to rise in a short period of time. However, in the face of the current controversy over airdrop allocation in the community and the fierce short-selling sentiment in the market, can Berachain’s on-chain activity remain high after the airdrop ends? Can price movements continue Hyperliquid’s script? Everything is unknown.
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