GuShiio.com Original title: “The qualified address is only 4000, has RedStone airdrop caused public outrage?”
Author: Alex Liu, Foresight News
On the evening of March 5, RedStone opened an airdrop query. Since it was listed on the pre-market market of Binance on February 28, RED has hit Binance’s latest daily limit mechanism for three consecutive days. After the price limit was lifted, it once touched above US$1.4, and is now quoted at US$0.87, with a market value of US$34 million, and a fully circulated market value of US$860 million.
As the latest launch of Binance’s Launchpad project, RedStone has attracted much attention in the community, and many people have participated in airdrops. As a price oracle provider known for its low price, the project has not experienced major pricing errors since its launch, and has also received support from well-known investment institutions such as Coinbase Ventures and Blockchain Capital. But this dazzling star isAfter the airdrop inquiry page was launched last night, the community’s reputation turned sharply, and some netizens even called it “fraud project.” Why?
Looking at its token economics, a 10% community airdrop ratio is not small and not enough to explain the problem. On social platforms, community users reported backI have participated in many years of tasks (such as mining activities in the S1-S3 seasons, hundreds of Zealy tasks, Spring Festival activities, etc.), but there are still no airdrops.In RedStone’s official statement, the author found the answer.
As long as there are no specific characters in RedStone Discord, you cannot get tokens!Less than 2% of Discord’s nearly 230,000 community members hold any of the above roles!
Just giving too few tokens may not make community users so angry (currently, RedStone DC has launched a “slow mode” because of too many criticisms).However, the actual reward mechanism is inconsistent with the promotion of the project party, which makes many users “waste their efforts”.I’m afraid that’s the key to the problem.
In past publicity, the project party shouted,”Your points will become the key basis for future airdrops!” But in fact, the top 10 RSG points, including the fifth and seventh places, are not eligible to receive RED tokens because they do not have the Discord role. There are more than 170,000 people in the rankings, and only 2296 addresses are eligible. There are about 200,000 members in the entire community, but in the end only about 4,000 people qualify for airdrop collection. Many of them only receive a few hundred tokens. The allocation logic is extremely “precise” compared with other mainstream projects on the market. Select carefully.
Data from: @OshinoAJ_eth
So what really aroused the anger of community members is that RedStone’s event design is full of high-intensity “PUA”-style marketing: it attracts users to participate by constantly publishing tasks, creating the illusion that “as long as you work hard enough, you will get rewards.” In fact, it sets hidden barriers on the threshold.Allow ordinary users who have invested a lot of time and resources to be excluded at the last minute.
This violates industry practice. Other airdrop projects in the industry usually pay more attention to the breadth of user participation in their allocation mechanisms. In dYdX’s airdrop activities, tens of thousands of users who participate and meet the conditions are generally able to receive a certain number of governance tokens; while for projects such as Optimism, the airdrop rules are clear, fair and transparent, and strive to cover more ecological users.
conclusion
The project party may try to implement a more refined incentive mechanism in airdrop allocation to ensure that core users can receive a higher proportion of rewards, but this approach undoubtedly ignores the efforts and expectations of the majority of participants.
In the long run, airdrops are not only a promotion means to attract users, but also an important indicator to measure project governance transparency and ecological health. The current controversy has undoubtedly sounded a wake-up call for the entire industry: only by establishing a fair, open and reasonable incentive distribution mechanism can users truly feel the value of participation and thus promote the continued prosperity of the entire ecosystem.
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