We’ve got a cheeky Christmas gift for you!

TOP LINE: We’re launching a targeted Christmas giveaway today (December 27), providing fresh rewards to two specific user groups. As well as offering a sassy little bonus to our community, it’ll give more power to the people who are driving governance for the protocol.

It’s official: we’ve had a crypto Crimbo this year.

All over the world, people have bought coins and tokens instead of physical gifts. Analysts are reporting that non-fungible token (NFT) sales have hit record levels. Savvy Millennials have ploughed truckloads of fiat money into ETH, bitcoin and other major currencies for their loved ones.

Now we’re getting in on the action ourselves, by giving out DVF tokens to two specific groups.

  1. People who’ve traded actively since the retroactive airdrop at the start of the month, but didn’t receive DVF from that initial drop.
  2. Those who did receive tokens from that airdrop, and held onto all of them.

(And yes, we realise the word ‘active’ is repeated in that first bit, but we want to make things ultra-clear).

This isn’t another full-scale airdrop. Not at all. It’s a targeted initiative to reward the people who are truly aligned with our long-term vision. 

 

DVF tokens carry governance rights, and we want to give our most active users a bigger say in our future direction.

 

Why mass retro airdrops are a thing of the past

 

The goal of token distributions is simple: to channel a protocol’s incentives towards its most loyal and frequent users.

Many crypto projects have come up with their own giveaway ideas. But the retroactive airdrop, which rewards pre-existing users, is among the most common.

When the airdrop blitz began, it was ace. Users didn’t expect the drops, so they had a real impact. What’s more, they genuinely rewarded organic usage, creating a virtuous circle that took the protocol forward.

But over time the mass retro airdrops have lost their mojo. Users now expect them, so they don’t provide the same incentive. And as more and more people try to muscle in, the community members who are genuinely committed to the project’s long-term vision receive ever-skinnier rewards.

Beyond these general issues, there are two specific problems facing the current round of airdrops.

Airdrop hunters. These guys join a trading platform to leach on an airdrop, then split as soon as they get their rewards. They have no interest in the protocol’s future, so any rewards they receive are totally misaligned. With more and more platforms announcing mass airdrops, people are now waiting like vultures for the next giveaway.

Layer 1 fees. Many airdrops take place on the main Ethereum blockchain, which is already seriously congested. The layer 1 network is forced to charge vast fees for trades and swaps, which makes airdrops expensive. To make the exercise worthwhile, platforms are having to make their airdrops bigger and bigger, spreading the rewards across an ever-greater number of people.

So, with each new airdrop, the concept is drifting further away from its original purpose: to reward the people who actively support the protocol. The more tokens end up in the wallets of opportunists, the less incentive there is to actually care about the project.

Why our distributions are going to be different

 

As a layer 2 protocol, DeversiFi can fix these problems. We’re not burdened by L1 gas fees, so we can afford to launch small, targeted giveaways and create filters that weed out the drop-lurkers.

Yes, we know what you’re thinking: you guys launched your own retro airdrop a few weeks ago, right? And yep, you’re spot-on. We promised our retro airdrop, and we delivered. But we used a detailed methodology to identify the right recipients (you can read about that methodology here).

In fact we’ve already launched a series of giveaways in two clear streams:

Trading and liquidity rewards. Our trading rewards programme went live at the beginning of December, providing tokens to active users every week. We’ll also be incentivising our forthcoming AMM pools, rewarding those who provide liquidity.

Pop-up initiatives. We’ve launched ad-hoc initiatives to reward specific behaviours by our users, for example performing testing, providing feedback or sending us improvement reports.

With these laser-focused initiatives, we can reward those who really care about how we are governed. And our loyal, active users will be able to build their holdings over time. The more say these people have in our future, the better.

And now: that Christmas gift we mentioned…

This time, we’ll be distributing 5 DVF (worth $39 based on current market value at the time of writing) to every user in each of the two aforementioned categories.

Just to be double-clear, this means:

  • Anyone who has traded or swapped since our retro-active airdrop, which took place at 2pm UTC on December 2, but did not receive their ‘retro-active users’ reward.
  • Anyone who claimed tokens in the targeted drop and still holds more tokens than they received.

Click here to check whether you’re eligible.

By issuing tokens to users who have traded during December, we can say thanks to those who have driven an amazing month for DeversiFi. And by issuing to those who have held their previous airdrop tokens, we can recognise those who are committed to our long-term future – and that’s crucial.

Instead of offloading their tokens for easy profits, the ‘HODLers’ have shown faith in the DeversiFi project. In fact many have staked their tokens for voting rights. Now we want to give them an even bigger say.

So if you’re on one of these ‘nice’ lists this Christmas, enjoy your rewards. Of course you’re free to pass them on to your loved ones, and join the crypto gifting boom.

But we’d love it if you staked your gift and helped us make DeversiFi even better next year.

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