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GAS Airdrop For ETH Users - Free Money For Everyone, Especially The Founders

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@jerrythefarmer
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Gas DAO has launched yet another DAO fund that rewards ETH users that spent more than $1.5k on gas fees. Before we get all excited about this one there are a few things that need to be addressed regarding this project and recent airdrops in general.

It's nice that ETH users are rewarded for their activity because most of them spent thousands on transaction fees which is a bit absurd when you think about it. OpenSea users recently got the $SOS airdrop and now Gas DAO seems to be riding the same trend but to what end?

There seems to be a general idea behind these projects but the reality is that there aren't bringing anything new to the table.

Their Twitter page got more than 18k followers in a matter of days but if you try to find out what is the goal of the project you will only find one page of info published 11 hours ago...

Even their cover photo on Twitter is just a random image of an oil platform. This Twitter thread explains everything that is wrong with projects like this one and I highly recommend it for those that are curious.

Cash Grabs and Liquidity Dilution

Most people are selling these tokens as soon as they claim them because they understand the future isn't very bright. There is no clear goal behind the projects and no leadership to get people involved so it seems to me their only purpose is to create free money for themselves out of thin air.

If you create an airdrop with specific requirements that benefit you and your circle of friends you will be getting most of the rewards while keeping the whole thing "transparent and decentralized".

I personally have no problem with this. If people are dumb enough to be exit liquidity for scams then so be it. The much bigger problem here is liquidity dilution. Big airdrops need to keep people invested in the project so they will create liquidity mining events most of the time. More free tokens for those that move their liquidity to our pools and contracts means less liquidity on Dexes that actually work as intended.

The worst part of all this are liquidity pools that are eating other assets because they are pooled with shitcoin X. Since everyone is farming and dumping it as fast as possible the paired tokens are the ones that are drained from the pools while shitcoins are growing in numbers consistently.

All of the above leads to an inflation of the crypto market and if that doesn't make sense you can read more about it in one of Taskamster's articles.

Airdrops Are Bad Now?

It's not necessarily bad for those that actually got rekt on ETH fees and got their money stuck on the network because it doesn't make sense to pay for the withdrawal and swap fees. Giving those people something back is great but without a general idea behind the project, it's nothing more than a private money printer.

If we were to compare this model to the 3speak airdrop, it would be easy to spot the difference. Speaking of which, new alpha info is out on 3speak so be sure to give it a watch.

My personal opinion is that airdrops will only make things worse if the market keeps going down. Free coins don't mean much if there is no liquidity to facilitate the trades so most of them will die but not without taking a chunk of the market with them. It's not necessarily a bad thing but it would be nice to see more common sense in the industry than what we have today.

As for the GAS airdrop, all sources are saying that it is safe to claim. I will leave it up to you to DYOR and decide if you want to take part in this one.

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