I originally wrote this back in June, but it holds up well today. I’ve made a few minor updates. I hope you enjoy. (Original https://medium.com/eosys/eos-airdrops-everywhere-e1ac0601882e)
If you were the proud owner of EOS in a registered private wallet as of the Genesis snapshot in June, then you are part of what will forever be known as the largest single airdrop in Crypto history. I’ve identified THIRTY projects that will airdrop over 40 Billion tokens to owners of EOS as of the Genesis snapshot! This does not include some Chinese and Korean airdrops where I do not have adequately translated information or projects that had their snapshot the last week in May. While this may seem like the highpoint, there is speculation that the best is yet to come. If we receive airdrops at this rate each month, that is over 200 airdrops in the first year alone, as of updating this we are at 50, some have estimated that we can expect more! If that holds true, you will be receiving new tokens every day or two. How will you keep up with it all?
I’ve developed a handy Airdrop Assessment Grid to assist you with the project review and creation of a strategy for each and every airdrop based on two simple factors, a very high-level review of the likelihood that the project will be successful and your personal excitement for the project.
Chance of Project Success
The following questions need to be answered when reviewing a project.
1.What is the project’s goal and is there a reason the project should be developed on blockchain?
2.Is the project team clearly identified or anonymous?
3.Has the team led or been involved with other crypto projects?
4.Does the team have expertise in the field in which they are launching their project?
5.Did the project receive funding from a third party or EOS related Venture Capital group for development?
6.Does the project have a sensible white paper and is their website functional and user-friendly?
7.What will success mean for the project and its token holders?
(UPDATE: In later project reviews I identify a few other metrics that I think are important which I won’t touch on again in this post. Notably, the total token supply as compared to the total amount airdropped to the community and of equal importance is how many are held by the development team and how long they take to vest. Look for future articles for more info)
Now that you’ve briefly reviewed the project, think about how you felt when learning about the project.
1.Is this a project that you will actively use?
2.Do you want to join this project’s community?
3.Would you recommend that a friend or family member participate in the project or buy its tokens?
Airdrop Assessment Grid
Based on what you’ve learned, you will now quantify how you feel about the chance of the project’s success and your level of excitement in terms of Low, Medium, and High and find the correlating squares on the grid below.
Where you place the project on the nine-square grid can impact when, if and how much you choose to divest in terms of the airdropped tokens you received.
Lunar Launch — High/High
This is the best of the best, the top of the class, the creme de la creme. The project team is solid, with both prior blockchain experience and expertise in the project’s field. The whitepaper provides a great foundation and the goals align with your personal values, whether financial or otherwise. The project received financial backing from a savvy investor. You see yourself using this project and will help it to grow a community. Consideration — Keep 90–100% of the tokens long term. Adjust your ratio if your interest wanes or the project struggles with implementation.
Personal Example: I won’t provide a personal example for every case, but some projects clearly stick out for me. For the Lunar Launch square, HireVibes is my project of choice. The project intends to remove the recruitment agencies from between employers and candidates by sharing the finder’s fees with the individual hired and the person who notified the new employee of the job posting. The team behind HireVibes are respected EOS backup Block Producers, EOSVibes, who provide much high-quality EOS related content. I have many connections in the corporate workforce and have recommended acquaintances for job opportunities in the past. Assisting others find gainful employment is something I am already doing, if I can get rewarded for doing it as well, then count me in.
Earn and Learn — High/Medium
This project will likely do well, great team, solid business case, but it’s not quite your cup of tea. You may not be an active member of the community, but perhaps you will follow the project on Twitter and Telegram. There is the possibility that as you learn more you might get involved, but for now you’ll just keep a passive interest. Consideration — Keep 75–90% long term, re-evaluate occasionally based on what you learn.
Personal Example: Everipedia has a great use case, the team includes the original Wikipedia founder, I think the project will thrive on the blockchain and they received $30,000,000 of VC funding to build the project from Galaxy Digital. This leads me to believe that they will succeed in the long run, however, I have never edited a Wiki page and can’t visualize myself doing so in the future. I will follow the project and may change my mind once I see how it is implemented, so I want to retain the ability to be an active participant in the future.
Wait and Watch — High/Low
Like the previous two scenarios, you truly think there is a basis for the project to succeed. Unfortunately, the goals and use case for the project don’t speak to you. You don’t wish to participate or learn more at this time. Consideration — Keep 50–90% longer term, watching the price and market adoption of the project when you have the time.
Enjoy the Ride — Medium/High
You’ve done some research and the team, while educated, doesn’t have that much value-added experience, the whitepaper leaves you with a few questions and perhaps the goals are a little too lofty. That said, you can’t wait to get your hands on the project. Like the Lunar Launch case, this community is for you and you want to be involved and help out if you can. Consideration– Keep 75–100% longer term and if your enthusiasm wanes over time, then you might wish to divest more.
Profit and Follow — Medium/Medium
This is the true middle ground case, decent project and you are somewhat interested in following its progress. They may never moon, or gain your full engagement, but it’s got your attention. Consideration — Keep 50–75% of the tokens mid to long term, evaluate the progress along the way.
Fold, then Hold? — Medium/Low
The project has a decent chance of making something of itself, but you just can’t muster up the energy to care one way or the other. Consideration — Keep up to 50% of the tokens mid to long term.
Use, but Lose? — Low/High
This one is a conundrum! You really like the idea and want to help out and participate in the community, but you are having trouble finding good information. The whitepaper has lots of misspellings, project team is inexperienced, website is atrocious, Telegram channel is empty, but if they can by some miracle get off the ground then you’ll be by their side. You are willing to risk any value associated with the airdrop, if there is a market for the token at all, but want to support the team. Consideration — Keep 50% to 100%, but understand your tokens may be worthless, if they aren’t already.
Sell and Subscribe — Low/Medium
The project has its faults, dozens of them in fact, but you like some aspects of what they hope to accomplish. You want to subscribe to their twitter account and telegram channel to see how they progress over time, you think they deserve a chance, no matter how slim it may be. Consideration — Keep up to 50% and see how the project grows, but again, know that you are risking any initial value that the market may place on those tokens by holding longer.
Dump in a Lump — Low/Low
The development team is choosing to stay anonymous, their website is a single page with broken links, no mention of a whitepaper and their goal is abstract and undefined, Telegram and Reddit appear to be filled with bots and shill accounts. This is likely just be a money grab, and it really doesn’t matter to you anyway, because no part of the project piques your interest. Consideration — Keep no more than 10% of the tokens. Why should you potentially keep 10%? Because hey, we’ve all been wrong before. Sell them as quickly as you can, assuming you can find a willing buyer at any price.
Personal Example: EOSClassic is a fork of the ERC20 EOS token, that intends to preserve your rights by “unfreezing” your EOS tokens, which, in of itself is a misnomer. There is no use case or whitepaper on their website and their development team is choosing to remain anonymous to protect their reputation. They originally stated they were going to have DPoS block producers for an token on the Ethereum Network which is PoW. I’m not making this up.
Bringing it all together
Please remember that the airdrop model works because those receiving the tokens create a community in which the projects can grow and thrive. If you think a project is great, lend them your support. It is likely that you will experience symptoms of “airdrop overload” in the coming months so I’ve created a chart below for your reference and several websites where you can find out more about the impending airdrops. Here is the link to the chart so that you can use it to track your personal thoughts on the various projects and your plan for each. Keep in mind that of these announced airdrops, only Everipedia is receiving any of the Block.One, billion dollar (or more) fund that has been set aside for development, more great news is sure to follow!
Are the details below for your project incorrect or have I missed your airdrop here? Feel free to reach out to me on Twitter @moore_chaney with your information and I’ll get it updated on the chart. If you enjoyed this article, I plan on publishing a new one every months, please follow me here or on Medium.
Disclaimer: The content contained herein does not constitute legal or investment advice, it is simply an opinion on how one may choose to respond to future airdrops.