EVD airdrop is live.
The latest airdrop to come to EVMOS holders is available to claim. Currently over two thirds of the eligible wallets have already claimed this relatively small drop. Here is the claim site to check if you have qualified.
The main requirements were to have minted an Evmos Domain name, and/or have staked EVMOS. There are some others, and time variables favoring those that minted their domains early in their launch.
Source: EVMOS Domains website
So what is Evmos Domains?
It is a very straightforward little project. It is a domain naming service, selling domains as NFT's. So, very similar to those xyz.eth names you see for Ethereum, this is the service for EVMOS. Basically, it lets you get a human readable name for your wallet - revolutionary I know. (this has been the default, and free on HIVE from day 1).
Anyway, with EVM chains, your wallet is a big long combo of numbers and letters, and Evmos Domains fixes that.
For Example, on the Orbital Apes website (the first major NFT marketplace on EVMOS), once you have a Evmos domain name set for your account, this appears as your wallet identifier, instead of your 0x123... address.
Source: Orbit Market
As you can see, in the top left corner is my domain - jk6276.evmos.
Now, obviously with these domains being NFT's, and tradeable, they are available as a secondary market on the Orbit marketplace
Prices are cheap on the secondary market, except for some names that were sniped early on. Many people minted numerous names leading up to the airdrop, failing to note in the details of the drop that early minters would be heavily favored over late minters.
So what is the drop worth?
Around a month ago, @gungunkrishu shared this post when the drop was announced.
Like I said, it is a small project, with a total supply for the $EVD token of 10 million.
Many many people qualified for just around 4 EVD, with a current trading price of around $0.08 each, meaning their airdrop is worth just cents.
Those that minted early fared better. My drop, for example, was around 360 tokens (worth roughly $30). With a FDV under a million $$$, it will be interesting to see what happens. There are two more rounds of airdrops to come, so if you only got a small amount first up, maybe the next rounds will be better for you.
And, what can you do with it?
Not a lot, at this stage. Trading EVD is possible, on the Diffusion dex. You will have to add the token contract to your Metamask, and on diffusion itself. Here is the contract: 0x47685b6ac7bb4de761a57828877a7b8254c8b145
So it is tradeable. You can also add it to and EVD/EVMOS LP position on Diffusion. There are currently no farming rewards, but these are planned to start, hopefully this week.
The team has also mentioned in their discord server that staking will commence soon.
For now, trading is live, LPing is live (without rewards yet) and staking/governance are coming SoonTM
Source: Dexscreener
What am I doing?
Like I said, I claimed around 360 EVD.
I am slowly dripping it into the EVD/EVMOS LP, matching it each day with my EVMOS staking rewards for now. My plan is to slowly build a position in this LP, and have some to stake when that goes live. We are talking small dollar amounts, but building a position in the early days may pay off in time.
If the project gains traction and attention, the price could boom. It is very low marketcap, and with only 10 million max supply, anything could happen. It is a simple little project, but building a pool position and stake over time could be an interesting little play. If it pops, the LP position will gain lots of EVMOS, which I am good with.
My portfolio has very little funds on EVMOS, aside from the EVMOS stake itself. It is time to build that, and get more involved in the eco-system. EVMOS rewards are coming soon to Diffusion, which has suffered from a lack of liquidity, and took a major hit from the Bridge hack that occurred a little while ago.
Airdrops, and EVMOS rewards are likely to be the catalyst for a turnaround in the EVMOS DeFi scene. It has been hard for DeFi projects like Diffusion to compete with the still insane staking return on EVMOS. But that could change as a significant fund is now available, from the unclaimed EVMOS airdrop, to incentivize DeFi projects to build TVL and growth.
EVD is a small first step for me towards building positions on EVMOS.
Thanks for reading, feel free to check out some of my recent content while you are here:
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