DeFi

Solana Sanctum Project to Double Airdrop Rewards for “Long-Term Aligned” Users – DL News

Published

6 months ago

17 July, 2024

Solana Sanctum Project to Double Airdrop Rewards for “Long-Term Aligned” Users – DL News

Sanctum promises to double airdrop rewards, if recipients wait.
This is part of the protocol’s plan to create a more stable and sustainable token launch.
Several parachute drops have failed in recent months.

Cryptocurrency airdrops are a popular way for DeFi protocols to attract users, generate interest, and ultimately launch tokens.

Yet in recent months, new token launches, which traders previously flocked to in droves, have not attracted the same attention as before. Many recent airdrops have seen their tokens plummet as soon as they launched.

Observers have blamed everything from the Sybil airdrop attackers to the projects themselves for the situation.

Controversies

Sanctum, a liquid staking protocol on Solana, is attempting to avoid the controversies that have marred recent airdrops.

People eligible for the July 18 project airdrop To have the choice.

They can claim their tokens immediately, giving them the option to sell them, or wait and double their initial allocation.

“You can claim immediately, but waiting gives you up to 100% bonus,” Sanctum co-founder FP Lee said in a statement. X post announcing details of the airdrop.

Sanctum’s deposits briefly topped $1 billion earlier this year.

The hope is that by incentivizing airdrop recipients to wait before claiming and selling, while still selling tokens publicly to investors, Sanctum can create a more stable and sustainable token launch.

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But whether the recipients of the parachute will be willing to defer their payments is another matter.

To get the maximum possible bonus, Lee said, recipients will have to wait six months before claiming their tokens.

In an ever-volatile cryptocurrency market, that’s a long time.

The Airdrop Dilemma

DeFi projects launching tokens face a difficult balance.

The distribution of a token, whether through sales to early investors or through an airdrop, can make or break a project.

In recent months, several DeFi projects have been critical to deliberately launch tokens at high valuations to make their project appear more valuable.

“If you start at $20 billion and you drop 95% in a bear market, you’re still a $2 billion project,” said Marc Weinstein, a partner at cryptocurrency investment firm Mechanism Capital. DL News.

At the same time, Sybil attacks are a constant concern. These hacker DeFi actors create multiple wallet addresses to spoof airdrops while pretending to run a legitimate activity.

Sybil attackers cashing out en masse after airdrops cause prices of newly launched tokens to plummet, leaving a bad taste in the mouths of many legitimate users.

When crypto bridge Wormhole launched its W token in April, it initially traded at $1.33. It has since dropped 71%.

Similarly, the ZK token of the layer-2 Ethereum network ZKsync has fallen by around 32% since its June airdrop.

There are exceptions, however. The token of LayerZero, another crypto bridge that has taken steps to exclude Sybil attackers, has retained its value since its launch via airdrop.

Delayed gratification

Sanctum’s strategy is twofold.

Incentivizing airdrop recipients to delay their requests only works if these users believe that the token will increase in value in the future. Therefore, trying to increase the value of the token in the short term is not an option.

“Projects in the past started with so little and were launched with souped-up utility vehicles,” Sanctum co-founder FP Lee previously said in a statement. X Spaces A stream describing the launch. “We don’t want that. We want to start low and work our way up.”

Lee was referring to fully diluted valuation, or FDV, the total value of a token’s supply, including those locked or yet to be distributed, not just those in circulation.

To avoid launching with a high FDV, Sanctum will let investor demand for CLOUD tokens help set a fair market price.

The project is selling 50 million CLOUD – 10% of the token supply – to the public at $0.15 each via Jupiter’s LFG launchpad.

The CLOUD token will start trading at a higher or lower price depending on how much of the 50 million tokens are purchased by investors.

But there’s a catch. Like those who postpone their airdrop requests, tokens purchased through the launchpad will be locked up for six months before investors can sell them.

“The key question to ask yourself on launch day is: Are you aligned for the long term or curious about the short term?” Lee said.

Tim Craig is DL News DeFi correspondent based in Edinburgh. Feel free to share your tips with us at tim@dlnews.com.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

No spam, no lies, only insights. You can unsubscribe at any time.

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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