Original | Odaily Planet Daily (@OdailyChina)
Author | Asher (@Asher_0210)
"Finally, the tokens are released" is likely the sentiment of the Grass community's "token hunters."
At 9:30 PM last night, after the Grass token claim officially opened (claim link: https://www.grassfoundation.io/claim), due to the overwhelming response from users, thousands attempted to claim the airdrop simultaneously, causing Phantom's backend system to become unresponsive and crash for 60 minutes.
Since the Grass token did not go live on Binance as the community expected, and even OKX only launched contracts rather than spot trading, the sentiment of 'dumping tokens immediately after receiving them' has spread in the community. According to market data (GRASS token contract address: Grass7B4RdKfBCjTKgSqnXkqjwiGvQyFbuSCUJr3XXjs), when the GRASS token was first claimed, it dropped from an opening price of $0.66 to below $0.50, showing that 'token hunters' wasted no time in dumping their tokens. However, a large amount of buying pressure soon followed, pushing GRASS's price above $0.90, with an increase of over 80% from the low point. Despite a 'second round of dumping' occurring in the early hours, the GRASS price was quickly boosted again, currently reported at $0.904.
GRASS Token K-line Chart
Meanwhile, according to the official website, nearly 5 million GRASS tokens are currently staked, with an APR of 253.49%. It is worth mentioning that unlocking tokens takes 7 days.
GRASS Token Staking Status
Grass Project Introduction
Image source: Official Twitter
Grass (commonly referred to as 'Little Grass' by the community) is the first project deployed on Solana that combines AI, Depin, and Solana technology, positioned as the data layer for AI. As a decentralized network, Grass aims to provide the data needed for AI model training by accessing public networks. This makes Grass an important component of the AI data layer as it expands into cleaning and preparing structured datasets, establishing its foundational position in the AI field.
According to ROOTDATA, Grass has completed a second round of financing, totaling $4.5 million, broken down as follows:
In July 2023, Grass announced the completion of a $1 million Pre-Seed round of financing, with investments from No Limit Holdings, Big Brain Holdings, Builder Capital, Cogitent Ventures, Kyle Samani, Neel Somani, Rahim Noorani, and others.
In December 2023, Grass announced the completion of a $3.5 million seed round of financing, led by Polychain Capital and Tribe Capital, with participation from Bitscale, Big Brain, Advisors Anonymous, Typhon V, and Mozaik.
Token Economic Model
According to official information, the total supply of GRASS tokens is 1 billion, with the specific token allocation as follows:
Community: 30% of the total token supply, which is 300 million tokens, of which the portion claimed in this airdrop is Airdrop One, accounting for 10% of the total token supply, or 100 million tokens; Future Incentives account for 17%, or 170 million tokens; Rounter incentives account for 3%, or 30 million tokens;
Foundation and Ecosystem Development: 22.8% of the total token supply, which is 228 million tokens. This fund will be used to support community and development programs, such as network upgrades, collaborations, research, and development to expand the ecosystem.
Investors: 25.2% of the total token supply, which is 252 million tokens, locked for one year after TGE, followed by a linear release over the next year.
Website Contributors: 22% of the total token supply, which is 220 million tokens, locked for one year after TGE, followed by a linear release over three years.
It can be seen that for the long-term development of the Grass project, 17% of the total supply of tokens is still reserved for future airdrops, and significant selling pressure will appear in the year following TGE.
According to GoinGecko data, the current circulating supply of GRASS tokens is nearly 250 million, of which 100 million GRASS tokens were claimed by users in the airdrop.
GRASS Token Economic Model
GRASS Token Release Chart
For 'token hunters', GRASS can finally come to a close. Although there haven't been stories of 'getting rich from mining grass' in the community, it can be regarded as 'a proper bowl of pig trotter rice.' In the end, since Grass still has 17% of tokens reserved for future airdrops, continuing to search for quality early-stage projects while 'mining little grass' may be a good strategy.
