$875 airdrop, quick overview of Ether.fi airdrop allocation and qualifications

Repost the original title: Minimum guarantee airdrop of $875, ether.fi airdrop allocation and eligibility overview

The ether.fi airdrop distribution has become the focus of heated discussion in the community today. After Justin Sun deposited 120,000 ETH (worth up to $480 million) into ether.fi last week, community users were generally worried that their airdrop share would be diluted. Today, ether.fi adjusts token distribution based on community opinions to balance the interests between giant whales and small participants, but its linear distribution model is still questioned by some community users.

How are airdrops distributed?

According to the data released this time, the number of airdrops in the first quarter accounted for 6.8% of the total token supply, taking March 15, 2024, 08:01 as the snapshot time.

According to ETHFI token economics, the total supply is 1 billion and the circulating supply is 115.2 million. 2% of the token allocation will be used for Binance Launchpool, 11% will be allocated to airdrops, and 32.5% will be allocated to investors and advisors. 23.26% is allocated to the team, 1% to Protocol Guild, 27.24% to DAO Treasury, and 3% is used to provide liquidity.

This airdrop ratio reflects the importance the project attaches to early participants. ether.fi also listened to the community and added an additional 12 million ETHFI (1.2% of the total supply) to small stakers, and this airdrop will not dilute the whale’s airdrop allocation.

The average number of airdrops received for each user was 575 tokens, worth $2,875 at the current Whale Market pre-launch market minimum price, with a median of 175 tokens (worth $875). According to community users, the minimum airdrop amount seems to be 175 ETHFI.

The address that received the largest airdrop allocation (approximately 3 million tokens) was that of Justin Sun, who deposited $480 million in assets during the Final Countdown event. However, ether.fi has also made it clear before that it will set a 3-month vest limit for whale wallets. Ether.fi’s Final Countdown event lasted from March 5 to March 15, using a matching model, in which every 50,000 ETH pledged will receive 0.125% of tokens, and original pledgers also enjoy the same matching ratio, which is 0.125%. The Final Countdown event enables the community to receive an additional 7.7 million tokens allocated to them.

In terms of specific allocations to stakers, stakers received 90% (61 million tokens) in proportion to their contributions. Ether.fi adopts a linear distribution method, which is more beneficial to smaller stakers.

The bottom 50% of wallets by deposit value contribute 1.8% of the total staking value, but can receive 18% of the token allocation. In comparison, the top 10% of wallets receive only 65% of the token allocation despite contributing 88% of TVL. This means that allocations are more biased towards smaller participants to encourage their participation.

Ether.fi explains that the reason for choosing a linear model over a hierarchical one is that hierarchical airdrops are very easy to manipulate and susceptible to Sybil attacks. However, ether.fi’s linear distribution model has also posed some questions from the community. Some users pointed out that both depositing 0.1 ETH and depositing 1 ETH received 175 tokens; some users said that in early January, they deposited 0.5 ETH in the first address and 0.2 ETH in the second address, but the two addresses Both received 175 tokens. Some users said that the number of airdrops for 30,000 points and 200,000 points is the same.

Who is eligible for the airdrop?

In the first quarter token distribution, 90% will go to stakers, 6% to partners, and 4% to early adopters (fan NFT holders and EAP participants).

For stakers, the minimum airdrop threshold requires earning more than 1,000 points through staking, which is equivalent to staking 1 ETH for 1 day, or staking 0.1 ETH for 10 days. This means that if you stake less ETH, as long as the staking days are long enough, you will have the opportunity to receive the minimum living allowance airdrop. Even if you deposit 0.01, you can receive the minimum living allowance as long as you deposit enough for 100 days.

Additionally, each fan NFT holder will receive 430 tokens, while Solo Staker at a single address will receive 4,200 tokens. Badge holders and referrals also receive additional allocations.

It is worth mentioning that there are 26 ways to accumulate ether.fi loyalty points, but this airdrop will only be allocated to addresses that have obtained more than 1,000 points through staking. If you only have badge points but no staking points, you are not eligible for the airdrop.

To sum up, this linear distribution method of ether.fi aims to balance the interests of giant whales and small participants, further promoting the broad participation and healthy development of the community. However, there are still some doubts about the specific linear distribution method, and further official disclosure is needed to cleanse the gloom hanging over the community.

Disclaimer:

1. This article is reprinted from [foresightnews], the original title is “Minimum guarantee airdrop of $875, ether.fi airdrop allocation and eligibility overview”, the copyright belongs to the original author [Karen], if you have any objection to the reprint, please contact Gate Learn Team, the team will handle it as soon as possible according to relevant procedures.

2. Disclaimer: The views and opinions expressed in this article represent only the author’s personal views and do not constitute any investment advice.

3. Other language versions of the article are translated by the Gate Learn team, not mentioned in Gate.io, the translated article may not be reproduced, distributed or plagiarized.