Starknet Airdrop Analysis: Some users grabbed 1,358 addresses, profiting 3 million dollars; is interacting less beneficial than entering early?

PANews
2024-02-22 11:35:05
Collection
As of February 22 at 11:00 Beijing time, more than 427 million tokens have been claimed, with the largest single address obtaining 1,532,750 STRK tokens, worth approximately 3 million dollars, by pooling tokens from 1,358 addresses.

Author: Frank, PANews

On February 20 at 12:00 PM (UTC), the Layer2 project Starknet officially launched its airdrop claim plan. A total of 1.3 million addresses are eligible for this airdrop. As of February 22 at 11:00 AM (Beijing time), over 427 million tokens have been claimed, with the largest single address aggregating tokens from 1,358 addresses to receive 1,532,750 STRK tokens, valued at approximately $3 million.

According to PANews statistics, the largest single address received 180,650 STRK, worth about $360,000. There are 31 addresses that received over 90,000 tokens, 93 addresses that received over 40,000 tokens, and 217 addresses that received over 20,000 tokens.

Is interacting less beneficial than entering early? Early Community Members (ECMP) gain the most

Since the official announcement of the airdrop plan, Starknet has consistently topped the community discussion hot topics, reigniting discussions on wealth accumulation through airdrops on social media. However, according to PANews analysis, the distribution rules for this Starknet airdrop likely prioritize the timing of entry over the number of interactions. Starknet Airdrop Analysis: A user aggregated 1,358 addresses, profiting $3 million; is interacting less beneficial than entering early?

From the data analysis of Starknet's airdrop, although the initial distribution table released by the official stated that 50.89% of the token share was allocated to Starknet users and 8.98% to the Early Community Members Program (ECMP), during the actual distribution process, early community members (ECMP) were categorized together with Starknet users, totaling 59.87%. One advantage of this approach is that by querying the largest addresses within the same category, it is not possible to directly distinguish whether the address belongs to an interacting user or an ECMP member.

According to data from tokenflow.live, the largest address in the Starknet user category can claim 180,650 STRK.

Starknet Airdrop Analysis: A user aggregated 1,358 addresses, profiting $3 million; is interacting less beneficial than entering early?

According to previous reports from BlockBeats, as part of the Early Community Members Program (ECMP), over 2,000 individuals can receive provisions. Those ranked highest in the distribution criteria will receive a substantial allocation of 180,000 tokens. This means that the number of tokens that early community members may receive could far exceed those of normal interacting early users.

Starknet Airdrop Analysis: A user aggregated 1,358 addresses, profiting $3 million; is interacting less beneficial than entering early?

In fact, PANews analyzed several addresses that received the largest number of tokens and found that these addresses did not have a large volume of on-chain interactions.

Taking the address 0x0161a9bca8dcc5975a03b12f5f7bf9610e1541635eb40eb3a89baeedc168e636 as an example, according to the Starknet query website, this address can receive 180,650 airdrop tokens, making it the address with the highest single token allocation. However, the number of on-chain interactions and amounts for this address is not high (though this address has been interacting on the Starknet chain for two years). Therefore, the holder of this address should be a member of the Early Community Members Program (ECMP).

According to the early community members program announced by the Starknet Foundation, the following members can qualify for rewards as early members: In the first phase, the program will involve the following categories:

  • Individuals who have made significant contributions to technical discussions in the community
  • Individual contributors listed in key projects of the ecosystem
  • Individuals who organize events globally (meetups, conferences, workshops)
  • Individuals who regularly publish Starknet brand content

The criteria for judging contributions are as follows:

  1. Coverage/Impact: Refers to the extent to which the contributor's work is disseminated within the community. This may include the number of people using or relying on their code, the number of people interacting with their content, or the number of followers of their thought leadership.

  2. Importance: Evaluates the significance of the contributor's work within the community or a specific project. This may mean focusing on the importance of an individual's work to the project's success or their influence in shaping the direction and development of the ecosystem.

  3. Effort: Assesses the time and energy the contributor has invested in their contributions. This may include not only coding but also community support, mentoring, and interacting with others to share knowledge.

  4. Originality: Looks at how unique or innovative the contributor's work is. This can include creating new algorithms, methods, or tools that have not been seen before, or solving existing problems in novel ways.

However, as of now, Starknet has not disclosed who has been selected for this program, nor has it published specific metrics for the evaluation criteria.

"Airdrop Masters" rake in $3 million

Of course, even if the profits of a single address were not maximized through interactions, it seems that the airdrop studios did not fall behind in this round of airdrop battles.

According to Lookonchain monitoring, one airdrop hunter aggregated 1,358 addresses to obtain 1,530,000 STRK tokens, valued at approximately $3 million. Another address aggregated 1,800 addresses and received 1,220,000 STRK tokens, profiting about $2.4 million.

PANews analyzed the interaction status of some of these addresses, with the number of airdrop tokens received by individual addresses ranging from 600 to 1,200, mostly starting interactions about seven months ago. After receiving the tokens, both addresses transferred all tokens to the same suspected exchange address:

0x0213c67ed78bc280887234fe5ed5e77272465317978ae86c25a71531d9332a2d

Whether these two airdrop hunters are from the same team is unknown. However, based on the current results, Starknet's anti-sybil measures do not seem to have had much effect.

Community skepticism continues

Generally, after airdrops worth billions of dollars, there are usually many users sharing their gains in the community. However, this phenomenon does not seem to have occurred after the Starknet airdrop. On the contrary, many users have expressed skepticism on official or KOL social media accounts.

Some users questioned Starknet's requirement to hold at least 0.005 ETH in accounts before the snapshot, with one user stating, "I am disappointed that the project decided to distribute to all minimum participants while bypassing those who may not have funds in their current wallets due to circumstances and/or demand. Like in my case. It's a pity to see this."

Other users expressed confusion over the airdrop to GitHub developers who had not interacted at all. In fact, as of now, the claim ratio for Starknet users is 91.85%, while the claim ratio for open-source developers is only 3.27%. According to the official announcement, unclaimed airdrop tokens will be reclaimed into the pool after four months and distributed in future rounds and/or plans.

"After months of trading and tasks, I ended up with nothing. Perhaps airdrops should start to be regulated, as these tasks are used to attract capital (like ICOs), and then lack transparency or fairness in implementation regarding standard transparency or fairness." A user commented disappointedly on the Starknet Foundation's Twitter.

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