ywc

[Humanity @Humanityprot]

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#HumanityProtocol

[Humanity @Humanityprot]

Humanity Protocol Emerges from Stealth: Human Institute, in collaboration with @animocabrands and @0xPolygon , Pioneers the Human Layer for Web3

Read it all here: https://t.co/7X5kd76QhO

[vitalik.eth @VitalikButerin]

One application of AI that I am excited about is AI-assisted formal verification of code and bug finding.

Right now ethereum's biggest technical risk probably is bugs in code, and anything that could significantly change the game on that would be amazing.

[samczsun @samczsun]

I'm back, did you miss me? I have some huge news!

Over the last year and a half, I've been working on something big in secret with the rest of the crypto security community. Today, we're finally ready to reveal ourselves to the world. We are @_SEAL_Org

[j @JavierAng_]

Not gonna lie... I thought FT was going to fall off after a month

I seriously UNDERESTIMATED the power of its airdrop program

Here's why I think FT's airdrop design will become the DE FACTO standard moving forward

---------------------------------------------------------

FT's PERFORMANCE

FT is the latest Web 3 social platform that's making a buzz over the past month

Contrasting other Web 3 platforms that have historically faced challenges in user acquisition & revenue generation, FT has achieved impressive numbers in the short month it has launched:

• Onboarded 200K users

• Facilitated $237M trading volume, equivalent to 60% of NFT trading volume

• Generated $23M in protocol fees, ranking it the 6th highest fee-generating platform over the past 30 days

• 30% of users retained on the app after 30 days, which @a16z categorizes as great retention performance

FT's meteoric rise can be attributed to various factors e.g. it being a PWA, support for speculative behaviour & more

But I believe it's airdrop model stands out as a significant driver of its success

---------------------------------------------------------

THE GOLDEN STANDARD FOR AIRDROPS

Specifics of FT's model:

• Every Friday for a span of six months, 100,000,000 points, or approximately 3.45 million points every week, are distributed to users

• These points, accumulated off-chain during the beta phase, will have a “special purpose” when the app enters official release status – strongly hinting at a token airdrop

• Point allocation criteria change weekly

Point-based Airdrop Program:

Contrary to retroactive airdrops or those that instantly disburse tokens, upcoming airdrops should use a points-based model

The most significant advantage of the points model is that it delays the token distribution, akin to a cliff mechanism

It engages users while gathering user feedback and key usage metrics before the token launch

Consequently, when the token does launch, it does so with several advantages: a more mature product, an elevated valuation, and an additional catalyst to propel its lifecycle forward

Motivational Elements:

FT's points-based model contains characteristics proven effective to be motivating and engaging, such as Locke & Latham's goal-setting theory

Admittedly, it may be too early to conclude FT's program a success, given that we're only a month in & there's 5 more to go

However, we can look to Blur's airdrop program, which is highly similar (& @paradigm-backed like FT)

---------------------------------------------------------

COMPARING TO BLUR'S AIRDROP

Despite community complaints, @opensea's dominance is indisputable - owning 94% of market share at its peak & maintaining > 60% even with the emergence of decentralized rivals such as @looksrare & @the_x2y2

No other NFT marketplace really stood a chance at dethroning OpenSea, that is until @blur_io

Without diving into the specifics of their airdrop in this tweet, Blur's airdrop is highly similar to FT's as it contained the motivational elements listed above & participants also accrued points through usage

The points are then used to redeem "care packages" of randomized rarity, containing varying amounts of $BLUR tokens

Performance of Season 1 Airdrop:

Season 1 ended on 14th Feb 2023 & 360M $BLUR tokens / 12% of total supply were distributed.

Based on its launch price, an estimated $234 million was allocated to the Season 1 airdrop.

While $234 million may initially appear substantial, it's noteworthy that this investment enabled Blur to consistently surpass OpenSea since December 2022 & own over 70% of the market share at this point

Dethroning OpenSea was attempted by many, but none has ever come close to doing so. Contrasing LooksRare's $207 million airdrop program which only bought them an 11% market share at its peak, Blur's $234 million campaign is a resounding success

Performance of Season 2 Airdrop:

Alongside Season 1’s conclusion and success, Blur unveiled Season 2 promising to distribute an additional 300+ million $BLUR tokens.

Thanks to the lucrative prospects of the previous season, it ensured a surge in activity on Blur, resulting in an 80% market share at its peak.

On 1st May 2023, the Blur team also released Blend, a peer-to-peer lending protocol accepting NFTs as collateral. Now, lending activities also accrued points toward Season 2 airdrop.

No surprises, Blend also dethroned NFTFi and became the no. 1 NFT lending platform in terms of volume

Now:

Today, both Blur and Blend stand as unparalleled leaders in their respective sectors, commanding market shares of over 60% & 95%

Without question, Blur's team has demonstrated excellence in crafting top-tier products for NFT traders with a professional trading user interface and doing away with trading fees.

This isn't to overshadow their efforts but rather to highlight the pivotal role their airdrop program played, which I firmly believe significantly propelled Blur and Blend's meteoric rise

Ultimately, airdrop programs aren't magical panaceas for mediocre products, nor able to ensure long-term user retention post-airdrop. But, they serve as a powerful catalyst supporting exceptional products, amplifying their visibility and equipping them with a competitive edge to seize and maintain market share

---------------------------------------------------------

BLUEPRINT FOR A SUCCESSFUL AIRDROP TO CONSIDER

Through FriendTech’s airdrop program, I laid the case for essential attributes of a successful airdrop program and substantiated it with the success of Blur, which had a similar airdrop program that was pivotal in helping them dethrone OpenSea and NFTFi

Analyzing Blur's program also highlighted the value of dividing the entire airdrop allocation into several smaller drops to maintain user engagement. This was evident in the surge of user activity with every new airdrop announcement.

In summary, for the builders that are designing their airdrop model, here are the final design considerations for a successful airdrop program:

If you're looking to launch an airdrop program, feel free to reach out!

[cygaar @0xCygaar]

This is not being talked about enough - @etherscan just added advanced filtering to their site.

This will make reading on-chain data much easier and much more powerful.

Here's a simple guide on how to use this new feature 🧵:

[zerohedge @zerohedge]

This is unprecedented humiliation for the @federalreserve.

Just 2 hours earlier, Powell said US banking system is "sound and resilient", seemingly unaware that yet another of the largest California banks was teetering on the edge.

How is this level of incompetence possible

[Robert Miller @bertcmiller]

Introducing simple-blind-arbitrage: an open source bot that blindly but atomically backruns private transactions from MEV-Share Matchmakers.

https://t.co/OYMNiHZfO8

[Elon Musk @elonmusk]

The data with which the Federal Reserve is making decisions has too much latency

[zerohedge @zerohedge]

We can do this Joe

[sudo rm -rf --no-preserve-root / @pcaversaccio]

Ok, I am gonna say it loud: ERC-20's `approve` function is a bug and not a feature. Besides horribly breaking the UX, it poses a serious security risk since you essentially delegate the proper risk management to a spender account. Approve does break trustlessness in bad ways imho

[ywc @ywc_everything]

Validator: "Don't judge me. You were never tested like I was. Few men have been."

https://t.co/RjRiD0rfWH

[zerohedge @zerohedge]

"It's No Longer A Unipolar World" - OPEC+ Makes Surprise 1 Million-Barrel Oil Production Cut https://t.co/umRx262QNd

[ywc @ywc_everything]

@donnelly_brent Fair enough, USD as % world FX reserves did rebound after the '12 Eurozone crisis - snatching share from mainly EUR

[ywc @ywc_everything]

@donnelly_brent From a medium-of-exchange angle, the chart is less about de-dollarization but more about CNY-internationalization at the expense of EUR and JPY.

De-dollarization is happening more on the store-of-value front: with decreasing share of USD as world FX reserves (IMF COFER data)

[ywc @ywc_everything]

Trade EVERYTHING!

[Edgy - The DeFi Edge 🗡️ @thedefiedge]

One crypto sector is estimated to reach $16 Trillion by 2030:

Real World Assets.

This will be the CATALYST for mainstream Crypto adoption.

Here's your 2023 guide to RWAs (and the top protocols):

[ywc @ywc_everything]

Very interesting:

https://t.co/XK25sIyJDn

[Eden Au @0xedenau]

Excuse me WHAT

[naiive @naiivememe]

#Bitcoin https://t.co/yEoD9E9GDW

[ywc @ywc_everything]

The knock-on effects are coming

[zerohedge @zerohedge]

AT1 bail-in:

"Credit Suisse has been informed by FINMA that FINMA has determined that Credit Suisse’s Additional Tier 1 Capital (deriving from the issuance of Tier 1 Capital Notes) in the aggregate nominal amount of approximately CHF 16 billion will be written off to zero."