Is it good to penalize airdrop hunters?

tygeade

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Quote from: dark1234 on March 10, 2022, 09:02:58 AM

Quote from: Adbitco on March 01, 2022, 06:40:12 AM

I would say to avoid dump by hunters then the airdrop could be paid in batches or by percentage of to allocation of the airdrop token to all participants this will enable them have control over their allocation to airdrop tokens and to safe guide the market from being dumped.

I totally agree with you... but basically airdrops have small tasks and promise to pay a few cents, which makes many people join it with multiple accounts under one control
and the project locks some tokens and can be unlocked incrementally to avoid throwing away pizza without tasting it

So you're saying that airdrop payments are low, that is why it is being abused? Locking the tokens will also prevent the investors from selling it, not just the airdrop hunters. That was too unethical.

@Adbitco now I know why some airdrops that I joined are paid in batches, I thought it's only their strategy to avoid paying high fees but we can't be sure that airdrop hunters will dump their coins and what if they hodl them after receiving? And all of them are waiting for the price of the coin to pump before all of them sell? the price of the coin can still dump after it. They cannot escape it. Why cant every project accept that dumping is part of the process on how this market works.

dark1234

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Quote from: Adbitco on March 01, 2022, 06:40:12 AM

I would say to avoid dump by hunters then the airdrop could be paid in batches or by percentage of to allocation of the airdrop token to all participants this will enable them have control over their allocation to airdrop tokens and to safe guide the market from being dumped.

I totally agree with you... but basically airdrops have small tasks and promise to pay a few cents, which makes many people join it with multiple accounts under one control
and the project locks some tokens and can be unlocked incrementally to avoid throwing away pizza without tasting it

libert19

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Quote from: Refrumatrix on December 03, 2021, 08:55:19 AM

For not doing anything in return? That's not true new projects needs to shill on social media that's where airdrops comes in handy, they ask airdrop hunters to follow their accounts on Facebook, Twitter and Instagram, even telegram and also retweet some posts and tag some friends along, for the fact that airdrops aren't worth much I believe it's not for free

I wouldn't even call them airdrops, these paraswap and other similar airdrops were simply based on your activity on platform in past, so called - restrospective airdrops.

Airdrop hunters would try to game this by creating multiple accounts and transacting small amounts.

Adbitco

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It's of a truth that no projects would rather risk any funds by airdropping to people's wallet without a task attached to it by so doing, all airdrop participants are entitled to receive their rewards no matter how little it is but if I may further contribute based on your explanation here.. I would say to avoid dump by hunters then the airdrop could be paid in batches or by percentage of to allocation of the airdrop token to all participants this will enable them have control over their allocation to airdrop tokens and to safe guide the market from being dumped.

milewilda

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Quote from: Saisher on January 28, 2022, 10:29:40 AM

Quote from: ?? on ??

Many people forget that most airdrop hunters are also investors, they know updates so if they believe they will invest, and I used to be airdrop hunters and often buy in projects that I follow and know well.

That's true airdrops are created to increase awareness of the project, if the project is good airdrop participants will buy more of the token, who would not want to invest in a coin with good potential and let the opportunity pass, so developers should also treat airdrop participants as supporters and potential investors and developers should not worry about dumps because if his project has potential investors will support the project.

Could neither both ways and i could also tell that bounty hunters are not totally beggars and some of them does have the finances to make out investment.Just like me in the past
on which i do get involved with bounty hunting and it do includes airdrops and i dont just tend to recieve the coins that ive been engaging but also make out some research if it
is really that worth to engage or not because success rate on airdrops is really just too slim and only the best projects could really be having the chance on rising its value
in near future even though its not an assurance but at least you had done your part.

joeperry

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What could be the reason why didn't get their reward? As far as I know airdropping is not free, there are set of things that the user needs to do first before being able to receive a reward including following social medias, likes, tweets, etc. If the users didn't violate any of it or any rules including one airdrop per accounts I don't think they should reward the users but it is different if they are cheating which includes using multiple accounts to participate in airdrop or any other kind of tricks to take advantage to the airdrop. I'm sure there's no problem on paying them as long as they can give proofs that the users were connected or violates any of their rules.

libert19

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Paraswap took strict approach, they even left out legitimate users who traded there when there was no such thing as retrospective airdrop. If you are gonna have concentrated drop to several thousands users, of course there is gonna be dump.

Saisher

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Quote from: ?? on ??

Many people forget that most airdrop hunters are also investors, they know updates so if they believe they will invest, and I used to be airdrop hunters and often buy in projects that I follow and know well.

That's true airdrops are created to increase awareness of the project, if the project is good airdrop participants will buy more of the token, who would not want to invest in a coin with good potential and let the opportunity pass, so developers should also treat airdrop participants as supporters and potential investors and developers should not worry about dumps because if his project has potential investors will support the project.

jaberwock

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Quote from: ?? on ??

Many people forget that most airdrop hunters are also investors, they know updates so if they believe they will invest, and I used to be airdrop hunters and often buy in projects that I follow and know well.

I support what you said all airdrop hunters some of them is serious investor and some of us will not believe that, and if you check well some of them will have coin of good projects and i believe that so many of them is into serious investment with quality projects they see like good quality project

Same with bounty hunters. Bounty hunters are not only in for free money but they also use their own money to partake in projects that they think promising enough. Totally agree on the checking part because when I tried scanning the wallet of the known airdrop and bounty hunters, I can see that their wallets have a huge balances and some of the coins they hold are top coins.

I was surprise that they are richer than me but that is because they can take bigger risk and do hardworks. we should not discriminate these kind of people or penalized them if they are doing a fair game but only penalized those that caught cheating on the act.

Juse14

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Quote from: ?? on ??

Many people forget that most airdrop hunters are also investors, they know updates so if they believe they will invest, and I used to be airdrop hunters and often buy in projects that I follow and know well.

Yes, that's right, even airdrop hunters also provide positive feedback for ongoing coins/tokens. In fact, I used to know and started investing in altcoins from some of my friends who happened to be airdrop hunters. So there's no reason why you should punish airdrop hunters, because it's mutually beneficial.

Abiky

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Quote from: takngantuk on January 18, 2022, 01:13:39 AM

actually airdrops do not really disturb the ecosystem of a coin. the problem here is that sometimes airdrop hunters cheat, they try to take as much profit as possible from airdrops. this is what gets a project into trouble, when it comes to dealing with such people.

is it worth punishing them? yeah it's really worth it. but the question is how?, finding the perpetrators of fraud is very difficult without a report. punish all airdops participants? it's not a solution, worse it will cause new problems like you said. the level of trust decreases and consequently the token price will fall.

Undoubtedly, cheaters must be penalized in order to prevent crypto prices from going down the drain at a fast pace. Instead of excluding airdrop hunters from participating, developers should introduce certain restrictions and/or challenges that will help prevent abuse. As long as everything's done correctly, the airdrop will become successful. I see this as a great way to help attract investors into new cryptocurrency projects. With "free rewards", it's easy enough to make your project reach mainstream adoption at a fast pace.

Ultimately, crypto is all about utility (not free money). As long as it's useful, crypto will be able to fulfil its purpose of bringing "banking to the unbanked". Just my thoughts Grin

KaliLinux

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Quote from: Abiky on December 03, 2021, 08:50:56 AM

Airdrops are a great way to attract people into newly-fond crypto projects. They're basically "free money" for not doing anything in return. Some projects have been widely successful after an airdrop, while others have gone all the way down the drain. There's been a upsurge of airdrop hunters looking to "milk rewards" from the system, effectively dumping all of their coins/tokens on the market for profit. While most projects have been quite flexible in the eligibility for an airdrop, one project decided to take the stand by adopting measures to prevent abuse. Parachain Swap's airdrop has been quite controversial as it only rewarded a small portion of its users. The vast majority of the people weren't rewarded (especially airdrop hunters), resulting in a decline of the token's price.

Do you think it's a good idea to penalize airdrop hunters? Will this do more harm or good to the adoption of crypto/Blockchain tech? Your input will be greatly appreciated. Thank you.

For me, it depends, If after the announcement or made known to the public that there might be some form of airdrop within a certain crypto project and you see a surge into the space then those types of hunters are most likely to dump almost Immediately after they receive it and I too was amongst those people when it comes to Paraswap and never got any airdrop but I understand.
On the other hand, if they really wanted to reward their loyal users that have been using their application for a long time even without expecting any form of reward, then I think those should be at the top of the list and people should understand this except the project just wants to attract a new audience with this airdrops then I believe some have done it that way then it will be for all.

MarjorieZimmermanGinger

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Quote from: Abiky on December 03, 2021, 08:50:56 AM

Airdrops are a great way to attract people into newly-fond crypto projects. They're basically "free money" for not doing anything in return. Some projects have been widely successful after an airdrop, while others have gone all the way down the drain. There's been a upsurge of airdrop hunters looking to "milk rewards" from the system, effectively dumping all of their coins/tokens on the market for profit. While most projects have been quite flexible in the eligibility for an airdrop, one project decided to take the stand by adopting measures to prevent abuse. Parachain Swap's airdrop has been quite controversial as it only rewarded a small portion of its users. The vast majority of the people weren't rewarded (especially airdrop hunters), resulting in a decline of the token's price.

Do you think it's a good idea to penalize airdrop hunters? Will this do more harm or good to the adoption of crypto/Blockchain tech? Your input will be greatly appreciated. Thank you.

That's right, the most forgiving way to attract people into crypto is with the airdrop program, there are not many tasks and rules to do to get the prize, but many airdrops now fail to run it, so people's trust is getting less and less to follow, or many airdrops give prizes do not match the rules given, not to mention talking about slow distribution and not being accommodated perfectly, many airdrops distributing prizes when tokens are priceless, this is a problem that makes people even more disinterested.

takngantuk

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Quote from: Abiky on December 03, 2021, 08:50:56 AM

Airdrops are a great way to attract people into newly-fond crypto projects. They're basically "free money" for not doing anything in return. Some projects have been widely successful after an airdrop, while others have gone all the way down the drain. There's been a upsurge of airdrop hunters looking to "milk rewards" from the system, effectively dumping all of their coins/tokens on the market for profit. While most projects have been quite flexible in the eligibility for an airdrop, one project decided to take the stand by adopting measures to prevent abuse. Parachain Swap's airdrop has been quite controversial as it only rewarded a small portion of its users. The vast majority of the people weren't rewarded (especially airdrop hunters), resulting in a decline of the token's price.

Do you think it's a good idea to penalize airdrop hunters? Will this do more harm or good to the adoption of crypto/Blockchain tech? Your input will be greatly appreciated. Thank you.

actually airdrops do not really disturb the ecosystem of a coin. the problem here is that sometimes airdrop hunters cheat, they try to take as much profit as possible from airdrops. this is what gets a project into trouble, when it comes to dealing with such people.

is it worth punishing them? yeah it's really worth it. but the question is how?, finding the perpetrators of fraud is very difficult without a report. punish all airdops participants? it's not a solution, worse it will cause new problems like you said. the level of trust decreases and consequently the token price will fall.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Kodok Bencot on January 11, 2022, 04:31:22 AM

What we have to understand is that airdrops or bounties are usually no more than 3% of the total supply, of course if all the coins or tokens obtained by the hunter are sold then the price impact is very small so I'm sure the airdrop hunter can't cause a dump.

It is an exaggeration to say to that bounty hunters are the reason behind the drop in price of a asset earned. But it is easy to shift the blame from the project owners to the group promoting them. If a certain product does not sell well, you dont blame the guys paid for marketing for all the loss do you? However there is no legal implication of this and therefore the scam projects run rampant and failed products project their disdain on bounty hunters.

Quote from: ?? on ??

I agree with you. We see in most of the campaign Airdrop allocation is pretty lower than Bounty allocation. I don’t know how Airdrop hunters dump coin price after their selling. Rather I think Bounty hunters can affect in price because large portion of budget from total supply. Now Airdrop isn’t totally free money, Have to claim with large fees.

Airdrop hunter's earning in terms of USD value ends up being similar to what the bounty hunter would get. Both end up getting useless tokens that have no volume to sell on in the market and airdrops are more commonly going to be failures anyway.

mumang siat

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Quote from: ?? on ??

Quote from: Kodok Bencot on January 11, 2022, 04:31:22 AM

What we have to understand is that airdrops or bounties are usually no more than 3% of the total supply, of course if all the coins or tokens obtained by the hunter are sold then the price impact is very small so I'm sure the airdrop hunter can't cause a dump.

I agree with you. We see in most of the campaign Airdrop allocation is pretty lower than Bounty allocation. I don’t know how Airdrop hunters dump coin price after their selling. Rather I think Bounty hunters can affect in price because large portion of budget from total supply. Now Airdrop isn’t totally free money, Have to claim with large fees.

That's why I'm no longer interested in airdrops, most of the campaign allocations are quite low, not to mention that at the time of distributing tokens we were overwhelmed in selling them, I think the airdrop program should be improved again, if you want this program to grow in the future, otherwise the bounty program will is growing, while airdrops are decreasing for connoisseurs, because really what hunters are looking for is only the maximum profit from the work they do.

Abiky

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Quote from: LUCKMCFLY on January 09, 2022, 02:16:23 PM

I do not see a need to penalize them, firstly the Airdrops are no longer profitable, for me the sense of the money to earn it goes in another direction, the Airdrops were the maximum for the year 2017, and for 2022 this is not the same, penalize some Bounty hunting for doing it does not make sense, for me the money is going through the business of nft games, pre-sales and public sales, but this is already entering with money, it is not making money from scratch, I think things are They are leading in that sense undoubtedly, now in 2022 with the metaverses it is expected to be of another level.

Most airdrops are unprofitable, but there are some which give huge rewards to their users. Uniswap and ENS have been one of the most rewarding airdrops in the crypto/Blockchain space. With rewards of more than $1k, you can expect airdrop hunters to abuse the system for their own benefit. That's why it's important to introduce some restrictions in order to help prevent your cryptocurrency or token from going all the way down the drain. Giving out small rewards will minimize the coin's downward pressure in price. I've seen some airdrops requiring KYC to participate in them, so there's that. Crypto was never about free money anyways, so I wouldn't count solely on airdrops for the whole space to thrive in the long run. Just my opinion

Kodok Bencot

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What we have to understand is that airdrops or bounties are usually no more than 3% of the total supply, of course if all the coins or tokens obtained by the hunter are sold then the price impact is very small so I'm sure the airdrop hunter can't cause a dump.

mumang siat

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Quote from: gmatej on January 09, 2022, 02:46:03 PM

It's still work right. You have to spent some time to get the airdrop. And you only get something really small. I think it's a brilliant way to growth the community.

I've spent a lot of time on airdrops before, but none of them made a big profit for me, until finally I decided not to be too active in the airdrop program, I want to see which airdrops have a good future, maybe you can provide that information to us, but to grow a large community this might work in the future.

gmatej

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It's still work right. You have to spent some time to get the airdrop. And you only get something really small. I think it's a brilliant way to growth the community.

Topic: Is it good to penalize airdrop hunters? (Read 1011 times)