Hotcoin Research｜Make Money in WEB3: Farcaster Ecosystem - BUILD Project Airdrop Interaction Guide

Project Introduction

The BUILD project is a token reward system on a decentralized social network recently recommended by the founder of Base. It is similar to the DEGEN project, but its reward mechanism is different. The BUILD token aims to reward outstanding talents known in real life, rather than excellent content discovered online. The project provides rewards for builders through peer nominations, encouraging valuable contributions on-chain.

BUILD is a reward token based on the Base chain, rewarding valuable contributors on-chain through peer nominations. Each nominator has a daily BUILD budget, with 90% going to the nominee and 10% to the nominator. BUILD points will be converted into BUILD tokens at the end of the airdrop, and the BUILD token is an ERC-20 token that can be traded on Uniswap.

Project Links

• Founder warpcast: https://warpcast.com/macedo

• warpcast buildbot: https://warpcast.com/buildbot

• Project channel: https://warpcast.com/~/channel/build

• Project official website: https://www.build.top/

• BUILD contract address: https://basescan.org/token/0x3c281a39944a2319aa653d81cfd93ca10983d234

Current Progress

The first phase of the BUILD project's airdrop has ended, lasting for 21 days, with a total of 170,000 participants submitting nearly 1.8 million nominations. The snapshot time for the first phase airdrop was at 9 PM on June 4th. BUILD nominations will be paused for one week to verify nomination data, and token claims will begin on June 11th.

• Registered users: 25,079

• Splitters: 12,785

• Pay It All Forwarders: 12,294

• Total claimed $BUILD: 26,891,240,682

• Total submitted $BUILD: 66,493,060,096

Token Economics

BUILD Token

Currently, there are 38,431 token holding addresses, with 1.7M liquidity on uni v3.

Airdrop

According to the official token economics, there will be two more airdrops. The second phase airdrop participation is expected to start in about a week, with specific details to be followed on the official warpcast.

How to Participate

The second phase airdrop has not yet started; please follow the official warpcast updates.

1. Register a Warpcast account:

• Register a Warpcast account via the invitation link: https://warpcast.com/~/invite-page/568701?id=e2f3a421

• The account needs to be linked to a wallet.

• For detailed tutorials, refer to the previous article "Farcaster: Opening a New Era of Decentralized Social Networks."

1. Refresh points:

• Visit the BUILD stats page and click the "Refresh Score" button.

1. Nominating and being nominated:

• Search for and nominate worthy builders on the BUILD website. The nomination link can be shared with others to let them nominate you.

• build (currently paused)

4. Check rankings:

• View your ranking on the BUILD website.

BUILD nominations allow you to recommend builders you believe should receive BUILD tokens. You can nominate up to three different builders each day, and nominations are a way to express gratitude to builders you admire. The value of nominations depends on each person's daily BUILD budget, with 90% going to the nominee and 10% to the nominator. At the end of airdrop 1, BUILD points will be converted into BUILD tokens.

Purchase ENS DID (Optional)

• According to the official airdrop rules, holding an ENS before May 15th has additional bonuses.

• Register or purchase ENS:

• Direct registration and setup costs about $20.

  • Registration page: https://app.ens.domains/

• Purchasing someone else's ENS costs about $15.

  • Purchase page: https://vision.io/

  • Purchasing ENS requires $1.5 + $5 gas fee.

  • Transferring management rights to your own address requires a $1.5 gas fee.

  • Setting as the main name requires $1.5 + $4.5 gas fee.

Strategy and Profit Analysis

Strategy

• Buy BUILD tokens when the price is low and hold at the right time (HOLD contract: 0x3c281a39944a2319aa653d81cfd93ca10983d234).

• Register multiple accounts, each following some celebrities and other accounts to increase nomination opportunities.

• Nominate three newcomers each day, as each account can only nominate three different people daily.

Worthy Nominees

• https://www.build.top/nominate/0x983D365914005bEA9E64ADcAA70a3E6A06114310: pureweb3

• https://www.build.top/nominate/0xec8b6b6ee8dc5c6631747bdc6b1400aff08829fd

• https://www.build.top/nominate/0x1e79b045dc29eae9fdc69673c9dcd7c53e5e159d

• https://www.build.top/nominate/0x62c99874c6873e5b2533e5d1eb703b755ac93739

• https://www.build.top/nominate/0xb48e8da63c2afc5633702b7acf4bde830c1de48b

• https://www.build.top/nominate/0x0c3e73447Fb3a76aB0ae69C4D1097EED21067E33

• https://www.build.top/nominate/0xDdd54D4D71FF9AD625D8e90DC6DdEafEeB5632Ba: maskpad.eth

• https://www.build.top/nominate/0xa34885e77157F93E0dD5f3Bdc9Be543Baca096bA

Profit Analysis

• Based on the data from this airdrop, participating for 21 days yields a profit of 10-30u per account, with higher returns for those holding ENS.

• The Warpcast ecosystem project incentivizes participation; more involvement leads to higher returns and rewards.

Through nominations, you can earn 10% of the daily BUILD budget as a reward. The BUILD budget represents the BUILD points each nominated user will receive. A SocialFi personal profile (talent passport or Farcaster) is required to obtain the BUILD budget and make nominations.

Risk Analysis

• Nomination limits: You can only nominate three different builders each day, and cannot nominate the same builder repeatedly.

• Account compliance: Using multiple accounts for nominations may be detected and lead to disqualification.

• Budget does not roll over: Unused BUILD budgets do not carry over to the next day and must be used within the day.

• Market volatility: As an ERC-20 token, the price of BUILD tokens may be affected by market fluctuations, so investment risks should be considered.

The BUILD budget is calculated daily at 00:00 UTC. Unused budgets will not carry over to the next day; they will simply disappear. Ensure that your nominations do not exceed the daily limit of three and reward those you believe are most deserving.

Conclusion

The BUILD project offers a system for rewarding outstanding builders through on-chain nominations, allowing users to participate by registering a Warpcast account and nominating other builders. Although there are certain nomination and budget limitations, users can gain some returns through strategic participation. At the same time, it is essential to be aware of market fluctuations and account compliance risks.

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