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The success of @portalcoin will depend on how they handle the airdrop to farmers. I only have 50k shards, so this ain’t about me. I do have a presale bag tho, which is why this matters… for all of us. Think I’m bullshitting? A thread (1/11) 🧵
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Most of the monster airdrops have been unannounced. A wink-wink, but never announced. When announced ahead of time, a social media grind like this brings out all the degens. (2/11)
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And “hell hath no fury like a degen scorned”. It’s a really dangerous strategy as an organization. You get so much excitement, but if you stiff those who did your marketing for you, the sentiment never recovers. (3/11)
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What do I mean by “do the marketing for them”? That’s basically what this is. The airdrop allocated to $portal farmers is a marketing expense. They have degens make the project reach “trending” on Xwitter. (4/11)
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Problems arise when those degen farmers aren’t rewarded. It’s true for airdrops for both social media grinding, or network activity. We have two recent examples of how the sentiment has shifted from hopeful to extremely toxic. (5/11)
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The first being SUI. The airdrop for Sui testnet was super hyped. Millions around the world were testing the network daily. The network was awful, but improved due to the stress test farmers provided. Farmers were given zero, and the sentiment went incredibly negative. (6/11)
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More recently, Starknet. Ever farmer was farming $STARK, and in the end, simple GitHub tricks and Sybil wallets got all the money. The sentiment has changed, and the crypto space is hating on starknet like crazy. (7/11)
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On the opposite side, you can look at airdrops that were done extremely well. Top of the list, recently, is arbitrum. $ARB rewarded early users fairly and is mostly loved and used by most cross-chain users. (8/11)
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It comes down to this. An airdrop marketing/testing strategy is a double edged sword. You need it to get the network out there and get users. But, if you screw over the early users or promoters, the negative sentiment will kill the project. It may never recover. (9/11)
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$Portal was, and is, talked about by everyone in crypto right now. The reason everyone knows about it, is due to the trending social media posts. Sure, many people muted and all, but they heard about it. Anyone who’s in-the-know, are watching. (10/11)
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So here we are. OTC trade are going for over $1. The team has built an incredible network of partnerships. How will the sentiment go? Will it be loved or scorned by degens? It all depends on how they reward the shards. I’ll be watching… (11/11)
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