Nadiia
171 posts
1/ 🥳Tidal Finance is delighted to unveil the process for the early supporter round of its platform token $TIDAL. Dive into more details: bit.ly/3rIKiuW 🏆Participants will be selected through a random process and will be eligible for a maximum individual cap of $300.
👩⚖️ Scroll. The Wrong Turn Recently the @Scroll_ZKP team announced details of airdrop scroll.io/blog/scr-token. And I think it's not a fair giveaway without even seeing the details. I'll try to justify my opinion below and would be happy if @sandypeng and @yezhang1998 reply how they see the situation. 1) Ordinary users have been raising the TVL project defillama.com/chain/Scroll for a year, mintering endless Scroll Canvas badges, spending money on commissions online. I repeat for a whole year. And the project allocates 7% of the issue for them. At the same time there is an announcement of Launchpool on Binance, where 5.5% is allocated in just 2 days. What is this? Are the project's own users less of a priority than Binance users? It would be fair to reduce the share for Binance and increase the share on airdrop 1. A year and two days is a big difference. 7% and 5.5% agree not that significant.... It's understandable that it will be forgotten over time, as with many drops. But in the perspective of 6-12 months it will be in the memory of retail and will have a negative impact on the token. 2) The idea of announcing an open snapshot date of 19 Oct 2024 looks really bad. Who is it for. So that big capital can bring in a large amount of funds in the remaining 11 days and farm all the brands, completely shifting the entire brand distribution? That's exactly what it looks like! Usually a project rewards early users over late users. And in this case, it rewards the large wallet who will start liquidity, get a large drop, and withdraw liquidity in less than 2 weeks. This is the end of all benefits for the project from such a user. We know what such whales usually do with drops. Let me remind you, according to @ArkhamIntel analytics, Justin Sun received $8.75M from Eigenlayer x.com/ArkhamIntel/st…. And sold over 2M tokens in the first 24 hours after receiving the airdrop. If other sources are to be believed, his airdrop was even larger (5.75M $EIGEN tokens according to exchange data bitrue.com/ru/blog/justin…) and the sale brought in $21.66M and raised questions about its potential impact on $EIGEN market trajectory. 3) Special attention should be paid to the one-sided change of vesting for early investors, who, as far as I know, learnt about it also from the public announcement (or is it not so?) and ran to the OTC to dump their allocations, because they were initially given other terms. It's no secret that there were OTC deals on the market not so long ago, where early seed investors transferred their tokens to new owners, and as far as I know it happened under the supervision of the #Scroll team. The vesting spocks in those deals were better than they turned out to be in the end. As a result, those investors who re-bought the rights are disappointed. So are those investors who didn't get out in time and learned of the vesting changes from the public announcement. As a result, the other day I saw an offer to sell $3M worth of $SCR tokens on the OTC market in one transaction, not counting others. This is a prime example of what I'm talking about above. Investors are not happy! There will be problems with retail, investors are already in trouble. And how will the project move forward, alone? That looks controversial and troubling, too.
For us, Binance is more than just a listing, it's the best channel to reach global distribution, it will open the on-ramp and off-ramp channels and help us grow to the next stage, especially in emerging markets. ETH deposits and withdrawals on Scroll are now live on Binance, and soon, stablecoin support on Scroll will be available directly on Binance. We will be the first zkRollup to get this support. This has been a repeated request we have been receiving from builders from the emerging markets and we are doing our best to support them. We love and appreciate our community, but everyone will be better off with wider distribution so we can welcome more members to join us in the future. Long term games + More to come.
