According to a previous report by Zombit, data from the blockchain analytics company Nansen indicates that almost half of the top 10,000 wallets receiving the most ZKSync native token ZK airdrop have already sold all of their allocations, sparking discussions within the community about the project’s token airdrop execution.
Cryptocurrency lawyer Gabriel Shapiro believes that no matter how strict the rules are or how precise the LayerZero witch hunt (which is what LayerZero is doing) takes weeks, it cannot prevent airdrop users from selling tokens. The only way to build a community should be to distribute chips to stakeholders, including those who have purchased and those who have participated in construction, rather than airdropping to zero-cost pseudo-users.
On the other hand, well-known KOL Cobie stated that in the current environment, the overall drawbacks of project token airdrops outweigh the benefits.
Cobie stated that after the project issues coins, a high fully diluted valuation (FDV) is needed to consider the airdrop as “good”, creating strange incentives for circulating supply and FDV. Furthermore, if a small mistake is made during the airdrop process (including or excluding a certain group), the community will face a huge backlash. In the days following the announcement of the airdrop inquiries, the recent two large airdrops (zksync and eigenlayer) have been criticized as “zkscam” and “eigenscam”.
Additionally, Cobie pointed out that a project (apparently referring to Ondo) that did not conduct an airdrop has recently performed well in the market, indicating that airdrops are not the project’s only option. Finally, Cobie said:
However, many in the community believe that this airdrop model will continue indefinitely, as project parties and wool parties are actually symbiotic. Wool parties actively participate in interactions to obtain the project’s token airdrops, and project parties need wool party to contribute attractive user interaction data, allowing them to raise funds from VCs at higher valuations.
