Aram Z
1.1K posts
Aram Z
@AramzCrypto
Exploring Web3 | Alpha @MyAlphaDrops
Katılım Ekim 2022
927 Takip Edilen2.6K Takipçiler
an update on $SEA.
the team has been building at full speed, and the foundation had planned to kick off the first steps as part of our march 30th event. but @openseafdn is pushing back the timeline.
a delay is a delay. i’m not going to dress it up, and i know how it lands.
the reality is that market conditions are challenging across crypto right now, and $SEA only launches once. @openseafdn could force the original date, or we could ensure every piece is in place and make this moment what this community deserves.
we gave a tremendous amount of thought to how to do right here. I’m thankful to @HollanderAdam for bringing the community’s voice into every conversation. we’ll be doing the following:
no more waves: the current rewards wave will be our last.
optional fee refund: recognizing that we originally committed to a Q1 date, we’re offering refunds of the platform fees we retained while participating in the rewards waves (3 - 6) that followed our timing announcement. if you like, you can receive a refund of those fees, which when combined with treasure chest prizes, essentially means all of your trading during that period was on us. if you opt for a refund, the Treasures you were awarded during these waves will be removed from your account. details on this process will follow.
honoring existing Treasures: for Treasures you continue to hold, our prior commitment stands: they will be meaningfully considered by the Foundation at TGE. this is independent from allocations for historical activity.
0% fees for 60 days: starting on march 31st, opensea will reduce our own token trading fees to 0%. we want to make it a no-brainer for everyone to experience our new platform: cross-chain token trading, mobile app, perps and more. after this 60 day period, we will put a new system in place that makes fees significantly more competitive for anyone trading consistently on opensea.
product updates: while we’re postponing our march 30th event, we’ll host a separate one in the coming months focused on product updates. it’s been incredible to see the early responses to our mobile app, and we can’t wait to get it into more people’s hands.
so if not now, wen?
when we announced last year, it was too early. that created unnecessary uncertainty and reactivity. so when the Foundation sets a new timeline, it will be deliberate and specific.
here’s why i’m confident that’s the right move:
i’ve been building opensea for almost a decade. when this started, we were two people and the only thing you could trade on OS was cryptokitties. i’ve watched this space go from a niche curiosity to billions in volume to where we are today.
the thing that’s carried us through every cycle was a willingness to make hard calls when it mattered. when our market crashed, we rebuilt from zero: an entirely new stack, a new product, and a new team culture. that hurt in the short term. but today OS2 is undeniably the strongest marketplace offering, and it’s the foundation everything sits on.
we have huge ambitions as a company, and we’re here for the long game. making all of non-custodial crypto delightful on mobile is just the beginning. that means we have to set a very high bar for everything we do, and it’s why i’m so protective of delivering a launch that’s worthy of this community and everything we’re putting into this.
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@CryptoRank_io @Backpack Total points are not 450M but between 420-430M. The epilogue points are not additional, but points from Sybil users being redistributed.
Use this calculator to calculate the points value, your cost per point, and the fees you paid.
alphadrops.net/perps/calculat…
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Will the Backpack Airdrop Be Life-Changing?
As @Backpack published its tokenomics, there is already enough data to frame realistic airdrop scenarios and some calculations.
Note that all data will be approximate and does not reflect 100% reality, since the drop size depends on a large number of factors.
Token Distribution
The total supply of the Backpack token will be 1B, with 25% (250M tokens) more likely to be sent after the TGE to the points farmers and @MadLads NFT holders.
Points Conversion
As we don't have any pre-market trading yet, let's rely on the approximate number of points farmed.
To count them, we should review all farming Seasons data, and understand that during each of 4 of them, traders got 10M points/week (each Season was ~10 weeks).
Taking this into account, we can assume the following:
• Seasons 1–4: ~400M points
• Bonus Drop: +10M points
• Epilogue: +40M points
Airdrop Scenarios
At TGE, 250M tokens (25%) are distributed to the community, split into 240M tokens for Points + 10M tokens for Mad Lads.
Assuming this amount, and linking it with the points we counted above, we can say that conversion can look like this:
• 450M total points > ~0.533 tokens / point
• 550M total points > ~0.436 tokens / point
• 650M total points > ~0.369 tokens / point
For additional reference, we can see that Polymarket traders are pricing FDV as follows:
• FDV > $500M - 68%
• FDV > $700M - 38%
• FDV > $1B - 23%
Having all this information, we can finally make assumptions about the approximate price of points:
> Conservative: ~650M total points → 0.369 tokens/point. If token opens near $0.50 → ~$0.18 per point.
> Base: ~550M total points → 0.436 tokens/point. If token opens near $0.70 → ~$0.31 per point.
> Bull: ~450M total points → 0.533 tokens/point. If token opens near $1.00 → ~$0.53 per point.
Mad Lads Airdrop
The picture for NFT holders may be brighter, as there are only 9,967 Mad Lads that will be divided into 10M tokens, or ~1,003 tokens per NFT. If this is true, one can get:
> Conservative: ~$500M FDV → ~$502 per Mad Lad
> Base: ~$700M FDV → ~$702 per Mad Lad
> Bull: ~$1B FDV → ~$1,003 per Mad Lad
Conclusion
It is worth noting that Backpack states there are no direct token allocations to founders, employees, or investors, so the sell pressure at TGE will probably be low.
Also, these are all theoretical scenarios. The official checker will be announced by the Backpack team later. The allocation and price will depend on numerous factors.
Your predictions for the Backpack price after TGE?
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