Are Reverse Airdrops the UBI of Early Adopters?
In the simplest of terms:
- Donate between $1 and $10 to our Gitcoin grant.
- Get about $20–30 in Badger coins.
If it seems too good to be true you haven’t heard of Reverse Airdrops.
It started with UNI in September : they gave 400 UNI tokens (about $1200) to anyone who had used their protocols in the past.
It was a way to stay thank you and distribute governance rights.
They were the first but not the last.
These are a few, each one worth a few hundreds of dollars.
- Mirror Protocol airdropped about $200 to some UNI holders.
- Binance Airdrop to Xrp holders.
- BadgerDAO airdrop a few hundreds of dollars worth of $Badger to anyone who did some early actions in several decentralized projects.
Too Good To Be True?
It may not make sense at first but here’s the way I read this:
- Projects are buying visibility and adoption by not paying the middle man (Facebook and Google).
- They give out tokens, not fiat money, and as long as the market believes in the sustainability they are not really spending any money.
If there are successful it’s sustainable.
If not, people who buy tokens to speculate or bet on the project, and liquidity providers are hurt.
The latest from Badger is even more interesting.
They promised that they will be airdropping $Badger to all donors of the Gitcoin grant round 8 which ends December 17th 2020.
Each donor will get a minimum of 3 $Badger (about $30 at today’s prices).
By doing this they are incentivizing donation to public goods projects, many of which, as ours, are open source blockchain protocols.
These are good news for us.
We have a Gitcoin grant running and this is a way for incentivize people to donate to us.
We suggest donating about $5 and, if all goes well you’ll get $30 worth of $Badger from Badger.
Your $5 will be matched by Gitcoin, and we’ll get more than that.
It’s crypto, of course there are risks, namely: you may not get anything.
We are not affiliated with Badger, and we can’t guarantee for them.
Anyway, it seems pretty safe bet because they actually did airdrop a lot of tokens already and are well respected in the community.
We can’t refund or give away rewards.
Gitcoin’s rules are clear about it.
So, you are risking the donation and the gas fees.
Reverse Airdrops may be a big thing in 2021 and so far it’s been clear that early adopters are often rewarded.
This also make sense: if you are a dex project, you want to target people in the space and these are the early adopters which you can spot by looking at their wallets and let them claim some tokens.
Facebook and Google can’t play this game, in fact they often forbid crypto related ads.
You are being paid for being an early adopter.
Remember the mythical 100 first Airbnb hosts in New York who never got anything, even if they were crucial to the success of the platform?
Exactly: NOT that.
Crypto rewards early adopters.
If there was one suggestion I could give to anyone, other than study the basic of open blockchain protocols is: use them, experiment with them, be an early adopter.
You may get some juicy airdrops and, perhaps more importantly, critical knowledge.
DONATE IN GITCOIN NOW!
- Go to our Grant https://gitcoin.co/grants/1166/open-reviews-a-web2-to-web-3-replication-protoco-2
- Login with Github or quickly create an account
- Add to cart.
- Choose the amount you want to donate and the crypto currency. Let’s say 5 DAI (worth $5) (*)
- Check-out and donate. Come back later if fees are too high right now.
The more you donate, the more you’ll get from Badger.
(*) you can’t donate in $Trips or $Badger and a Gitcoin coin does not exist (Yet? It maybe another good reason to join).
If you get stuck, come to see us in https://discord.gg/JAxeeD where we have a dedicated #Gitcoin channel.