Original author: Golem, Odaily Planet Daily
On the evening of September 6, Fractal Bitcoin announced an airdrop of FB tokens to eligible UniSat users and OKX wallet users. Users can go to the UniSat reward query page and the OKX reward query page to check the number of FBs obtained. As long as the conditions are met, an address can also receive airdrops from both sides at the same time. The airdrops will automatically reach the user's address after the mainnet goes online.
A total of 1 million FBs will be distributed in this airdrop, accounting for 0.47% of the total token supply. UniSat and OKX wallets will each distribute 500,000 FBs to eligible users.
Fractal is one of the projects that has attracted the most attention and enthusiasm in the Bitcoin ecosystem during this period. Therefore, as soon as the news of the token inquiry came out, the major Bitcoin ecological communities became lively in an instant. But various FUD voices are also spreading on social media and communities:
"The share of airdrops given to the community is too small, accounting for only five thousandths of the total. The project side is really too stingy."
"The number of rewards for loyal addresses such as OG cards, Prime cards and early BRC 20 swap users is actually at the same level as the minimum guarantee rewards for holding assets on the mainnet test network"
"The new address used by the test network has no balance on the main network. I am completely excluded from this airdrop."
"The balance requirement threshold for the mainnet and testnet has been raised, and those who used to just brush the testnet will have no chance."
…..
So, how exactly are Fractal’s airdrop rules designed before the mainnet goes online this time? Why is there so much negative reaction from the community? Odaily Planet Daily will explain in detail the Fractal token economics, airdrop rules, OTC price conditions and other information in this article.
Analysis of project and token economics
Fractal Bitcoin is a Bitcoin scaling solution that aims to use the BTC core code to recursively create infinite scaling layers on BTC to increase transaction processing capabilities and speed, while maintaining full compatibility with the existing Bitcoin ecosystem. Fractal Bitcoin is developed by UniSat, the Bitcoin ecological infrastructure. UniSat has received multiple rounds of financing from Binance, OKX Ventures and others.
Fractal announced token economics on August 27, with a total supply of 210 million tokens, 80% of which are allocated to the community and 20% to teams and contributors. The specific allocation is as follows:
· POW Mining 50%: Half of the total token supply is allocated to Proof of Work (PoW) mining;
· Ecosystem Treasury (15%): 15% of tokens are reserved for the Ecosystem Treasury, specifically for investment in the Fractal Ecosystem. The treasury supports and funds initiatives to improve the ecosystem and provides funding for ongoing core improvements to Fractal;
· Pre-sale (5%): 5% of tokens are allocated to the pre-sale, targeting early investors and network participants. These funds are critical to cover initial development and operating costs and to conduct security audits to ensure the network’s robustness. All tokens are locked for 6 months and will be released linearly over 12 months;
· Advisors (5%): The other 5% of tokens are currently reserved for advisors, who will provide strategic advice and support for the continued development of the Fractal network;
· Community funding (10%): 10% of tokens are used for community funding, which will be used to establish partnerships and liquidity plans;
· Core Contributors (15%): The remaining 15% of tokens are allocated to core contributors who build and maintain the Fractal core software.
From the perspective of token economics, Fractal has not specifically set aside any part to promote airdrops, and many communities have also speculated that Fractal’s airdrop will be allocated partially from the ecosystem treasury or community funding.
Judging from the circulation situation, the current airdrop accounted for only five thousandths is negligible, and the majority lies in the daily output of miners and the hands of the team. If we calculate that blocks are produced in an average of 30 seconds and each block is rewarded with 25 FBs, approximately 72,000 FBs can be produced every day, and 720,000 FBs can be produced in 10 days, accounting for 0.3% of the total. Even including the 15% taken by the team, the initial circulation is not high. In addition, after the main network is launched, players have the need to consume FB to participate in the ecosystem. The shortage of supply may cause the price of FB to increase in the early stage of the main network launch.
Analysis of airdrop rules
The airdrop rules for this airdrop are different for UniSat and OKX wallet users.
The qualifying conditions for air investment for OKX wallet users are as follows. Those who meet the qualifications will receive a basic reward of 6.6 FBs, and those who meet the qualifications will receive an additional reward of 30 FBs:
Condition 1: At 00:00 on September 1st (UTC+ 8), hold more than 100 USD equivalent BTC in the Oyi wallet, and have used the Oui Web3 market to trade Ordinals, Runes, and Atomics assets ＞= 3 times in the past 6 months
Condition 2: Rank among the top 5,000 in OKX Web3 wallet BTC ecological activity.
Eligibility for air investment for UniSat users is as follows, with a snapshot time range of the past 90 days:
· You can get 5 FBs if you meet any of the following conditions: trade more than 0.001 BTC on the UniSat market and get more than 10 UniSat points.
· You can get 10 FBs by meeting any of the following conditions: holding a UniSat OG card, holding a UniSat Prime card, early interaction in the BRC 20 swap on the main network, holding 0.001 BTC on the Bitcoin main network and on the Fractal test network. Holding 0.002 tFB on .
· 15 FBs can be obtained by satisfying any of the following conditions: ranking among the top 5,000 in the UniSat market and ranking among the top 5,000 in UniSat points.
At the same time, the editor’s personal test found that it mainly meets the above conditions, and one address can receive FB rewards on UniSat and OKX at the same time.
It can be seen that this airdrop of Fractal aims to reward real users of UniSat and OKX wallets. On the one hand, most real users can obtain the minimum guarantee of 6.6 or 10 FBs, and on the other hand, it also pleases the "large loyal players" ”.
However, UniSat's airdrops for platform OG cards, Prime cards, BRC 20 early experience users and top-ranked addresses have caused dissatisfaction among players. The reason is that they believe that as loyal and "high-value" users of the platform, the airdrops they receive are not the same as those that only get the airdrops on the main platform. The minimum guarantee rewards for holding assets on the network and the test network are at the same level.
However, Fractal also changed the minimum guarantee reward qualification for 10 FB last night, from "as long as the balance is held on the main network and test network" to "the main network requires 0.001 BTC and the test network requires 0.002 tFB". This In fact, the threshold for airdrops has been further raised, and many people complained, "If I checked yesterday, there were still 10, but if I check again today, it will be 0."
OTC price
Currently, in the OTC of community organizations, the OTC price of FB is between 5-8 u; based on this price, the total market value of FB has exceeded US$1 billion. It can be seen that even though there is some dissatisfaction with the airdrop, the community's price expectations for FB after it is launched are still positive.
The number of airdrops queried by most users is concentrated between 10-40 (assuming there are two numbers). If sold for 6 US dollars (if someone accepts a small order), 60-240 US dollars of "pork knuckle rice" can be obtained off-site. "income. However, there are currently only 1 million FBs traded in the OTC market. After the main network is launched, the daily output of miners will become dominant. Whether the price of FB will be strong by then also requires further observation of market sentiment.
Not pig's trotter rice but universal tap?
Judging from the number and qualifications of this airdrop, Fractal may not intend to distribute "pig's feet rice" to users, but more like actively making a mainnet faucet distribution for real users, so that everyone has the conditions to participate in Fractal Mainnet ecological project test.
Before Fractal conducted this airdrop, the community had extensive discussions on whether Fractal would be airdropped, the airdrop rules, etc. Some opinions show that from the perspective of ecological construction, Fractal will conduct some airdrops. Otherwise, users will not have FB tokens to experience the Fractal ecological project in the early stages. If they all go to miners to buy them, the price volatility caused by supply and demand may also inhibit users. Enthusiasm for participation.
This airdrop actually reminds us how we should continue to participate in the Fractal ecosystem. The previous blind testnet interaction should be stopped. The "big one" may come after the mainnet goes online.
(The above content is excerpted and reprinted with the authorization of partner MarsBit, original text link | Source: Odaily Planet Daily)
Statement: The article only represents the author's personal views and opinions, and does not represent the objective views and positions of the blockchain. All contents and opinions are for reference only and do not constitute investment advice. Investors should make their own decisions and transactions, and the author and Blockchain Client will not be held responsible for any direct or indirect losses caused by investors' transactions.
〈Fractal airdropped 1 million FB tokens. What is the current off-market valuation? 〉This article was first published in "Block Guest".