matrixdot_crypto

solana maxi, focusing on builders. pro women in crypto. healer and coach. what's so funny about ☮️, ❤️, & understanding?
former UX exec

[matrixdot_crypto @MatrixdotC]

@aixbt_agent drama stirs people up and gets eyeballs 👀
as sol continues down, so will ecosystem coins: $RENDER, $TAI, $JUP, etc. the drama gives the JUP drop some extra juice

[matrixdot_crypto @MatrixdotC]

@GoNeuralAI there are some issues with the $NEURAL token atm, on the GoPlus audit, like tax modifiable, not ownership-renounced, etc. What are these issues about?

[Kevin Henrikson @kevindegods]

I've been building tech companies for 23 years.

Sold my last startup Acompli to Microsoft for $200M.

Now I'm sharing my Web3 framework for the first time.

The same one that helped me spot winners in crypto:

[matrixdot_crypto @MatrixdotC]

@simonj007 @JustinBennettFX 👆same question, @JustinBennettFX . TIA, DMed you

[matrixdot_crypto @MatrixdotC]

$PENGU claim so smooth! 🙏👏🤝🤝🫶
@pudgypenguins thx for showing how it's done

[matrixdot_crypto @MatrixdotC]

@droidcapital Droids are ready for the next drop @WEAREM3M3_ Lay it on us!

[matrixdot_crypto @MatrixdotC]

@bonk_inu After further investigation, I've determined that this is *definitely a phantom wallet issue* and NOT a problem with Bonk Stake Pool, aka https://t.co/g126OCxalu. That site works as advertised.
thanks for offers to help

[matrixdot_crypto @MatrixdotC]

@bonk_inu how do we get technical support for https://t.co/60mOxCYO5M? I withdrew my principal & rewards after the 3 month staking period, and they never appeared in my wallet, just shows an "app interaction." Right now I'm REALLY glad I only locked a small amount.

[matrixdot_crypto @MatrixdotC]

@bonk_inu Thanks for all the responses, y'all. Don't think metamask support can help, since this is a Phantom wallet issue.

[meow @weremeow]

PVP - PPP

One of the most important things for me is to shift crypto from a PVP into a PPP mindset.

The difference:
- PPP (Player pump player) communities wants the last person in to win
- PVP (Player vs player) communities wants the last person in to be their exit

PPP are by definition infinite games, while PVP are by default deeply finite games with a clear end point - the last sucker.

But why is PVP so prevalent , to the point where most outsiders and even many insiders feel that crypto is fundamentally a PVP game?

It is because PVP "communities" are super easy to form, since all the members need to agree on is to that attracting more people to buy their coin quite literally makes them richer (thanks to magic money creation) and so they should do a lot more of that.

In contrast, PPP communities are incredibly hard to build - since the core emphasis of the community cannot be around attracting others in the hopes of dumping of them, but rather towards having more allies towards building a common long term future together.

That said, the future of crypto is most certainly PPP, because even if 99.999% of new "communities" are PvP, the 0.00001% that lasts and thrives are certainly all PPP.

The hallmark of great communities like Bitcoin, Eth, Sol (and hopefully Jup) have been a community that is very aligned towards helping every single new entrant into the network *win* vs treating them as a pile of money to buy their bags.

PPP will win in the end, because:
- It is the best mindset in crypto - combining the essence of communal vision and profiting
- It is neither cynical nor delusional - instead having both idealism and pragmatism
- It is the only way forward in crypto - because there is no community that can survive being eaten from the inside

Yet of course today, crypto has a really bad rap for being PvP, where the public perception is often that of greedy mofos creating and shilling magic internet money and saying anything in order to dump on the last suckers entering.

The core problem with that perception of course, is that there is a lot of truth to that to the point that even the most earnest participants often think

The thing we can do of course, is to actively reject PvP communities, and invest your time, effort and energy into cultivating real relationships and expertise in PPP community, vs the transient man eat boy ones in PVP spaces.

If we all eat each other vs grow each other, there’ll be nothing much to eat soon for anyone.

Crypto is probably the one industry where there’s absolutely no limit to which game you as an individual choose to play, and which communities you choose to join.

Choose PPP. Your mom will be proud.

[matrixdot_crypto @MatrixdotC]

@TheVaultDAO @solana @ONDC_Official @SuperteamIN @toly @rajgokal badass @TheVaultDAO

[Vault-X Protocol @TheVaultDAO]

Exciting times ahead as @Solana pioneers the on-chain e-commerce revolution! 🌟 In this transformative era, we're proud to introduce Market-X, the eBay of Web3, powered by the secure foundation of Vault-X Escrow. 🚀🔐

[matrixdot_crypto @MatrixdotC]

Being farmed by Galxe rn, thinking I'll stop this real soon...Verifying my Twitter account for my #GalxeID gid:vZ8BKajMQYf4wj6vrEiCW8 @Galxe

https://t.co/RRXIqgnCqi

[matrixdot_crypto @MatrixdotC]

@BonkeDAO @bonk_inu $BONK yes! 🚀❤️‍🔥🥂

[DROID @droidcapital]

DROID holder $KAS miners are currnetly running at US$50 per day 👀

Want proof?
https://t.co/yQEPU9V2t2

Want one for yourself? Come open a ticket
https://t.co/p6fdPzY6XS

Full and partial shares available.

🧠

[Alex Mason 👁△ @AlexMasonCrypto]

10 airdrops for users of the Sui $SUI ecosystem will happen in February.

Be eligible to grab them all.

Potential - $7000
Cost - $0

Dive into the guide👇

[meow @weremeow]

Grow The Pie Update #1: Community Airdrop

Hey Jups, here’s the breakdown for the first round of the community airdrop, along with a detailed rationale about how we arrived at it.

Warning: This is a long post for patient geeks only. If you are only interested in knowing your own allocation, please wait next week for the official airdrop site.

I wrote this post because I wanted to be as open as possible about explaining our thought processes, unique circumstances and data points we have gathered, and make sure that the airdrop is as understandable as possible, even the nuances of the discussion.

We take every part of the airdrop discussion very seriously, and we are immensely grateful for all the time and effort that everyone put in. Even if we cannot give everyone what they deserve or think is correct, I would like everyone who ever interacted with Jupiter to know that their usage/contribution was seriously considered.

We will re-open the airdrop channel on discord till the end of the week to allow for further debate on some details.

Next week, an official airdrop allocation site will be up for everyone to check their stats and allocations.
That will conclude the current phase, moving us to the next phase of the JUP token launch.

BASICS:
1/ There will be 10B JUP Tokens.

2/ As mentioned in our Breakpoint talk, this airdrop is to engage users who used us in the past, and invite them to be closely involved with the next phase of the Jupiter journey. Which means, the 955K wallets who interacted with Jupiter directly before Nov 2nd are eligible for consideration. There will be future rounds of airdrops for new users, so stay tuned for that.

3/ This is obviously a massive number of wallets, and with 35B of volume, how to slice it up to make it meaningful was always going to be a challenge, but we are gonna try our best.

4/ All users who interacted with Jupiter via our many amazing integrations for example @solincinerator , @solendprotocol and all the wallets will be included in the airdrop if the transaction was signed directly by the user and we have that data.

5/ Also as mentioned, 40% will be allocated to the community over 4 rounds of airdrops. 10% will be allocated in this round, which will be 1B tokens. We expect to start one more round of growth oriented airdrop before token launch.

6/ We have never announced or even hinted at any form of airdrop or even token until a couple of days pre-breakpoint. All growth has been purely organic. There was no massive increase in wallets in those few days, so there’s no reason to think that we were massively spammed. Therefore, de-duplication is not a particular area of concern for us, but will definitely be for future rounds.

7/ All previously published dashboards and criteria were from 3rd parties. While certainly a good proxy, we are taking into account a much wider set of data points and nuances into consideration. So do wait for the official site next week to check both the volume, score and allocation.

8/ First round allocations will be up next week but tokens will not be live yet. There are several phases to the token launch, which we covered in the breakpoint talk and we will share more later on.

PERSPECTIVES
There were many extremely different perspectives and proposals being floated over the last week, with 2 major directions, the first being a completely even distribution, and the other being a completely volume based distribution. There were also many great proposals that aimed to strike a balance, and we took inspiration from many of those.

DATA
Based on these feedback and ideas, we looked into the data in a lot of detail, which you can see in the attached image.

1. Massive Power Law At Play
The most important data point here is the massive power law in terms of trading volume. 0.1% of wallets account for 60% of volume, while 0.2% account for 80% of volume. Even within the 0.2 tier, there are non-bot users that account for 240M of volume, far more than the average user in this elite tier. Conversely, the lower 70% accounts for much less than 1% of volume.

A linear (or even quadratic) proportion based on volume will not work for a good distribution, even for relatively power users with >100k or >1M of volume. We did not want to overcomplicate it with fancy maths too much (base x logs), so we opted for a reasonable tier method instead that will ensure that no one will get way too much or too little.

2. Bigger wallets were more active before 2022, while smaller wallets were more active after 2023
A larger number of the bigger wallets turned out to have used it mostly before 2023, while smaller wallets were more active in 2023. This suggests that a multiplier for 2023 volume will have the effect of bumping up small wallets into higher tiers.

3. Stable/xSOL-SOL/Bot volume were more significant at the highest levels
One interesting observation was that stable/xSOL-SOL/bot volume was far higher at the highest levels. For example, the 2 wallets that did >500M in volume were purely arb traffic. While our share of user volume has greatly increased over time, arb bots consisted of a fairly large volume, especially early on in the cycle.

To be clear, there are many kinds of bots, and many of them play an important part in the liquidity ecosystem, so this is an observation to open up the conversation about whether to differentiate between these volumes.

There are many other interesting observations not covered above, but feel free to join our discord and chat more!

AIRDROP BREAKDOWN
With these in mind, I would like to present the airdrop breakdown for the first 10%.

1. Even distribution for all wallets (2%)
2. Tiered score based distribution, with score based on adjusted volume (7%)
3. Community members on discord, twitter, developers (1%)

We believe this breakdown will reward power users and contributors significantly more, while likely giving everyone else a reason to come back and engage.

Let me dive into each of these categories:

1. Even distribution between all wallets (2% / 200M tokens)
While not using volume as the major criteria was always going to be a non-starter, we also greatly appreciated the point that we should aim to be as inclusive as possible to maximise the community building potential here, and bring as many people back as possible regardless of volume.

As such, we are allocating 200M tokens, which means about 200 tokens for each account, which would be a nice welcome present if Jupiter does well. For those who have not tried out Jupiter or Solana for a long time, do come back and try us out again - lots have changed!

We are not de-duplicating here for reasons mentioned above. We have never announced an airdrop before, and neither did we see a huge influx of wallets at any point in time, so we think it's more important to have everyone included, vs performing opaque methods of deduplicating.

2. Tiers Based On Adjusted Volume Score (7% / 700M Tokens)
The vast majority of tokens in this drop will be allocated towards a tier based scoring system, with adjusted volume being the main point of reference.

Here’s where we leave the simplistic into the much more nuanced landscape of allocating based on how much they engaged with the network, how much they used Jupiter in during the bear market, and the nature of the volume.

Based on the **NON-ADJUSTED** volume, we will be looking at approximately:

Tier 1: Top 2K users, 100,000 tokens each (est >1M trading vol)
Tier 2: Next 10K users, 20,000 tokens each (est > 100K trading vol)
Tier 3: Next 50K users, 3000 tokens each (est > 10K trading vol)
Tier 4: Next 150K users, 1000 tokens each (est >1K trading vol)

It is important to remember that we are using these volume numbers as a proxy, since the final tiering will be based on the top X users in the given tiers based on adjusted volume.

The adjustments will likely be the following:
- multipliers for 2023 volume (likely counted 2X or 3X)
- zeroing of arb volume (defined as samemint - samemint txns)
- removing of known accounts (for example wormhole exploiter)

So, someone who traded mainly in 2022 but disappeared in 2023 will likely be dropped in tier, while someone active throughout 2023 will likely gain in tier.

One question that we are going to leave open will be whether to discount stable, xsol-sol and bot traffic.

The obvious flaw with this approach is simple - the tiers are pretty broad, tiering is kinda sorta unfair to those who just missed out on the past tier. For example, even in tier 1, you have a user who traded 240M in volume vs the average of 1M traded in that tier.

We opted for this approach because as mentioned in the earlier section, there are massive power laws at work and we want to design a system where we get meaningful amounts of tokens into large numbers of active users of Jupiter, yet have it be meaningful for everyone if they do well.

This approach ensures that anyone who used Jupiter actively, particularly in 2023, will likely see their activity reflected in the various tiers.

And since this is a community building activity, not an academic exercise to have the mathematically perfect distribution, and I personally don’t like things that are not understandable by everyone this is what we opted for in the end.

3. Community Contributors (1% / 100M Tokens)
Given that community contribution cannot be placed side by side with users, we have created a completely different allocation for discord contributors, Twitter supporters and developers.

There will be multiple tiers here to reflect the level of contribution these amazing folks have in helping us become the platform we are today. We will have a preliminary list up next week, and allow people to submit additional requests as well.

Next Steps
We will reopen the airdrop channels for final discussions today and wrap up the discussion by Friday. Discord: https://t.co/gcQOk7pP3A

By next week, there will be a site for everyone to check both their allocation, volume, adjusted score, community rank, etc!

On this note, thanks to everyone who has been part of the amazing discussions. I am particularly grateful to @durdenwannabe for doing multiple useful polls that enlightened us on various points of consideration, @deanmachine for making a very clear case for community involvement, @y2kappa for highlighting developers and integrators and @retiredchaddev for opening up the discussion around doing this openly.

And of course, there were many countless others in our discord that I will thank separately later on!

It is an amazing experience, and I seriously learnt a ton from everyone. I know it has been a long experience for everyone, but I hope that we can collaborate as a community on the next few phases of the token launch!

[matrixdot_crypto @MatrixdotC]

It's here! @vtopiaio's first rewards share. It's great to see some initial success right as the bull is getting going. Methinks this will be a fun ride 🪐

[matrixdot_crypto @MatrixdotC]

@droidcapital been here since before mint and not going anywhere

[DROID @droidcapital]

DROID minted in June 2022

🧠We have experienced ONLY BEAR MODE
🧠Optional royalties the entire time
🧠RADAR, REDline, DROID-Fi Utility
🧠We are NO WHERE NEAR DONE

Our assets (coins, USDC, investments) are worth MORE TODAY THAN THE DAY WE MINTED

THE project has CREATED VALUE