Airdrop after rebrand to bzx and broader DeFi community

An airdrop to the users and / or the larger DeFi community will distribute ownership, reward a certain community friendly behaviour, give attention for rebrand and ultimatly bring in new people.

I would suggest 5M vbzrx as budget. But using vesties could cause confusion for the old brandname and conversion - we should figure this out.

Just an quick brainstorm concept for distribution:
bzrx community internal:

  • to all wallets, who
  • interacted with fulcrum/torque in past. Amount depending who is being received based on a formula taking into account: first time interaction and past volume into account. Early adopters and revenue providers could be honored like this.
  • bought bzx on presale
  • who had open positions during the problems of early 2020 / late 2020

Distribution to the larger DeFi community:
To all wallets, who

  • received the initial UNI airdrop and still hold their this amount or more UNI
  • received the initial 1inch airdrop and still hold their this amount or more 1inch
  • received the initial dydx airdrop and still hold their this amount or more dydx (these guys are our target audience)
  • contributed to gitcoin
  • exclude exchange wallets

The negative points I right now are:

  • cost for the treasury
  • many could dump it quickly and put pressure on the price short term
  • additional work to prepare this

The items on the lists are just brainstorming results, let’s not focus on them, but on the idea of the airdrop itself.

These are examples of course which came to my mind - I want to address the part of DeFi community, who don’t just claim and dumps their airdrops.

I don’t know bro. I’m not very use to Dao thing. I’m a pre saler tho. It give power to the community but not for a reward tho. Idk

Édit never mind my comment if this is something common on other projects

Short reply:

-Airdrop good idea in principle.
-Hard to decide on a budget without knowing USD price of the token (which is likely to change a lot after the rebrand)
-No hurry to do this anytime soon - should not be immediately after rebrand. We can do something perhaps as a second wave of marketing around the time PL/Fulcrum Pro are launched.
-Airdrop criteria should be tightly calculated - we want to give the max benefit to the people who will use Fulcrum the most and grow the community and not spread it to too many people who won’t join the community and add value.
-At a minimum we should do something like what DyDx did and make a list of eligible airdrop recipients and then make claiming the airdrop contingent on trading on Fulcrum.

We could combine it with tasks completed in the simulation mode - later one day.

I was just about to suggest this! Being rewarded for learning is a really great way of getting people to use the platform. So combining it with the simulation idea makes the most sense to me.

Saying that, I think airdrops can bring a lot of exposure if done properly. We definitely don’t want to just spam random wallets as that won’t bring real value to the platform. Definitely targeting users of competing platforms is a good idea, or setting tasks like Twitter/Facebook posts for rewards can work, although it’ll be a lot of admin to track it all.

As a presale buyer I do like the idea of getting more for free :stuck_out_tongue_winking_eye:, but I don’t think that will bring value either to be honest. I’m also not sure that dropping to wallets that still hold the UNI, 1inch and DYDX drops would be a good idea as those wallets are likely lost etc…I don’t know any active people that still hold the original drops for those :man_shrugging:.

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Personally, airdrops are very oldskool and have not proven to generate loyalty or usage of a platform. It’s nice for new projects in order to get known and become more decentralised, but we are not in a similar position.

Farming however can be needed to draw more liquidity to the platform in order for big whales to open big sized leverage positions. If they try to do it now with low TVL, the rates will go through the roof. CEX have much more liquidity than we have, and I see this as a potential problem in order to compete with them.

Having it grow organically is slow, and unsuccessful, we’ve already tried that for months. Rebrand won’t suddenly increase the TVL, it’ll mainly depend on the APRs.

If rebrand works, many people will try to open positions, but if there’s no liquidity, they’ll lose interest after a few days of trying and come to the conclusion that our platform is too small and too expensive.

So I’m against airdrop,
But I’m for farming a la Aave, that’s sustainable

edit: farming should preferably start after fulcrum pro has released in order to show the new trading possibilities

im also in favor of this!

This borrowing market is the most pressing issue I see too.
I try to discuss the shortcomings I see here:

At this current stage of BZRX, an airdrop does not make a lot of sense as those are generally for the distribution of tokens. I do not think it will significantly increase usage of the protocol or bring in people that would drive consistent usage. Some sort of short-term farming paid out by treasury on new chain launches is something that should be considered but current deployments are settled and will adjust as needed.