Original | Odaily Planet Daily (@OdailyChina)
Author | Asher (@Asher_0210)
"Finally, we've made it to token distribution," this phrase is believed to resonate with the Grass community's 'hairy gang'.
Last night at 9:30 PM, the Grass token claim officially opened (claim link: https://www.grassfoundation.io/claim). Due to the overwhelming demand from users, thousands of people attempted to claim the airdrop simultaneously, causing Phantom's backend system to become unresponsive and experience downtime for 60 minutes.
Since the Grass token did not list on Binance as the community expected, even OKX only listed the contract rather than the spot market. As a result, the sentiment of 'dumping the tokens as soon as they are received' spread within the community. According to market data (GRASS token contract address: Grass7B4RdKfBCjTKgSqnXkqjwiGvQyFbuSCUJr3XXjs), when the GRASS token first became available for claiming, the token dropped from an opening price of $0.66 to below $0.50, indicating that the 'hairy gang' wasted no time in dumping their tokens. However, there was a significant amount of buying afterwards, and the GRASS price briefly exceeded $0.90, with an increase of over 80% from the low point. Despite a 'second round of dumping' occurring in the early morning, the GRASS price was quickly raised again, currently reported at $0.904.
GRASS Token K-Line Chart
Currently, according to the official website, nearly 5 million GRASS tokens are staked, with an APR of 253.49%. Notably, unlocking the tokens requires 7 days.
GRASS Token Staking Situation
Grass Project Overview
Image Source: Official Twitter
Grass (commonly referred to as 'little grass' in 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 necessary for AI model training by accessing the public network. This makes Grass an important component of the AI data layer as it expands into cleaning and preparing structured datasets, solidifying its foundational position in the field of AI.
According to ROOTDATA, Grass has completed a second round of financing, with a total amount of $4.5 million, as follows:
In July 2023, Grass announced the completion of a $1 million Pre-Seed round funding, with participation from No Limit Holdings, Big Brain Holdings, Builder Capital, Cogitent Ventures, Kyle Samani, Neel Somani, Rahim Noorani, etc.
In December 2023, Grass announced the completion of a $3.5 million seed round funding, 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 distribution as follows:
Community: accounting for 30% of the total token supply, which is 300 million tokens, of which the portion available for this airdrop claim is Airdrop One, accounting for 10% of the total token supply, which is 100 million tokens; Future Incentives account for 17%, which is 170 million tokens; Rounter incentives account for 3%, which is 30 million tokens;
Foundation and Ecosystem Development: accounting for 22.8% of the total token supply, which is 228 million tokens. This funding will be used to support community and development programs, such as network upgrades, collaborations, research, and development to expand the ecosystem;
Investors: accounting for 25.2% of the total token supply, which is 252 million tokens, locked for one year after TGE, and subsequently released linearly over the following year;
Website Contributors: accounting for 22% of the total token supply, which is 220 million tokens, locked for one year after TGE, and subsequently released linearly 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 allocated for future airdrops, and significant selling pressure is expected to occur 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 are the airdrop portion received by users.
GRASS Token Economic Model
GRASS Token Release Chart
For the 'hairy gang', GRASS can finally be said to be reaching a conclusion. Although there haven't been any stories of 'getting rich quick through grass mining' in the community, it can still be considered a 'proper meal of pig's feet rice'. In the end, since Grass still has 17% of tokens for future airdrops, continuing to search for quality early projects while 'digging for little grass' might be a good strategy.
