Copying ENS's homework, why did SpaceID get criticized for launching an airdrop?

When other companies send out airdrops, users are all singing and dancing, thanking their father , but when SpaceID sends out airdrops, there are wailing and people want to dig up the ancestors of the project. As the largest Web3 domain name provider on BNB Chain, SpaceID has always had good data and good user reputation.

Because of ENS as a benchmark, many professional airdrops also regard SpaceID as a key project. Thanks to the BNB Chain ecosystem, investment institutions, excellent data, and the legendary girlfriends group project circle, SpaceID has directly landed on Huang An’s 33rd luanchpad project.

It all seemed very dreamy , but last night, the situation turned upside down and the abuse continued. It was too late to ban people in the official DC. The limit of speaking was 5 minutes, but the screen was full of abuse . What happened? I also got a little bit of airdrops. Here is a summary for readers:

1. Cheapskate

Although it has always been benchmarked against ENS, SpaceID is obviously too stingy in its token distribution mechanism, and "stinginess" often leads to its lackeys' "greed". Just look at the picture. The figure below is the distribution table of $ID. The airdrop is only 10%, and it is divided into 3 or even more times . This time the airdrop is only 2.1% of the total!

If you look closely, the proportion attributable to coin sales is 5%+8%+20%= 33% ; the proportion attributable to the team (control) is 7%+15%+13%+12%= 47%; only 10% is used for ecological construction ; and only a pitiful 10% is given to users .

For comparison, let's take a look at how ENS is distributed . 50% belongs to the community treasury and is controlled by the community, 25% is directly airdropped to users , and the rest is given to various contributors in the ecosystem. Did you notice? 0.05% is specifically given to translators , and 0.125% is also given to active users of Discord (connected and verified wallets).

Who is the real Web3 project? You don’t need to talk nonsense, just look at the economic model to know. This kind of stingy and greedy project has never put users first from the beginning to the end.

2. Redefine early adopters

If you say that you send less and are stingy, it won’t cause a stir, but SpaceID has redefined the concept of early users. In short, in the coefficient of airdrops, everyone finds that the most important coefficient is the renewal period. It doesn’t care whether you stay up late to participate in AMA, forward and invite people to get OAT, or actively upgrade DC to help spread the word. It only cares about who renews for a longer period of time, regardless of how early or late you are.

This seems to have directly hurt many so-called "heavy users". They register 3d and 4d domain names for hundreds of U, participate in various activities, try every means to obtain various NFTs, and even change their Twitter names to xxx.bnb. The result? You can't beat a person who spends 5 U to register a garbage domain name and renew it for 10 years.

You asked me how I knew this, I have a friend...

A friend's picture

That's right, I am that friend. I collected every NFT, OAT, did 4d, set up domain name resolution, and also did the silly .arb. I was really hurt by the so-called heavy user and the so-called boutique account. But fortunately, I was willing to renew the account. Although it was not 10 years, it was still several years, so I escaped a disaster.

A friend's picture

There is another funnier thing, one wallet only counts the one you renewed the longest . What does this mean? It is to let you split wallets and become a witch! Other projects’ airdrops are all done with great effort to prevent witch attacks from multiple accounts , but SpaceID is the opposite. In order to sell domain names, but not to give airdrops, they have gone to great lengths.

3. Rats, Rats, Rats

The low amount of rewards and the strange rules are tolerated. What made many users swear is probably the suspected insider trading. To be honest, this has become the standard of Huang An's project. If you don't do some insider trading, you will be sorry for Huang Silang's Build.

What do you say? Is there any evidence? The on-chain data is there. Around the snapshot date of March 14 , there were two small peaks in registrations, especially the second peak. Before March 11, the registration volume was less than 1,000 for more than half a month, and it climbed all the way to 9,997 before the snapshot. And, when you carefully analyze the renewal time of newly registered domain names, you will be surprised.

So, is SpaceID a rubbish project? Oh, you can't say that. Remember the difference between blur and $blur that I analyzed with you before? For a project listed on Huangan, the price will be pulled up fiercely, and it will be cut without mercy. I am not making up stories. If you don't believe me, you can check the lunchpad data, hook, stepn...

SpaceID earned 17,722 BNBs and about 6 million USD by selling domain names and renewal fees. Isn't that enough? You can curse until your throat is broken and no one will care. Who will remember what happened today when the exchange is listed and the market is pulled up in a few days? This is the outside world, noisy, messy, boring and interesting.

We can only pursue our own little happiness like this friend. The rules are not written by us, so let's choose a broader world. Otherwise , chicken leg rice is also very delicious.

Wish us good luck!

…

Just when I was about to finish updating, SpaceID announced that they had changed the rules! This was like a bolt from the blue. I had already cursed, but what should I do with 1,500 words? I quickly went to check, and the adjustments and explanations were as follows:

- Deny insider trading
- Snapshot moved forward to March 10
- Increase the number of airdrops by 5.6 million
- Total quantity increased to 7.6 million

This... What should I do ? I'm still running a fever . I wanted to go to bed after finishing writing. Then I checked the three points I wrote again. I was stingy, and I didn't change. The rules were slightly adjusted. There was no evidence of insider trading. I breathed a sigh of relief. I still need to scold people. There is nothing wrong with what I wrote.

However, when I went to the official discord to take a look, I almost cried. Damn, just because each of you had a few more people, you already rebelled.