Airdrop - Liquidity Stakers & Users of Swap Interface

Temperature Check
#1

I would like to discuss the implementation of an airdrop of the to-be-released WSE coin.

I would propose that a snapshot date would be released prior or on the date of the first exchange listing of WSE. The eligible airdrop participants must either have been providing liquidity to one of the existing WSE pools or have used the swap exchange feature on the official site.

Further parameters and finer details would obviously need to be discussed and ironed out, but for a new upcoming project like this, I think the surge in interest from media coverage would be the springboard WSE is looking for.

Let’s spread the word,

  • Sharky
4 Likes
Proposal For Airdrop Similiar to Uniswap
#2

Sounds good to me; similiar to early adopters on uniswap.

4 Likes
#3

What do you think about the amount of an airdrop?

3 Likes
#4

It is a great idea!This project is in the beginning and needs an intense marketing campaign to be well known in crypto community. Now community is anxious for any kind of airdrop…

On the other side,we should be careful with the sell pressure would happen because of the airdrops tokens…Could be very important be ready to be listed on many big exchanges(or to be already listed ?mmm depending on which option can give more value to the tokens),and calculate carefully the number of tokens to distribute (to keep the value of each of them and to take care of the current token holders )…

2 Likes
#5

The true is that now is the best moment to make this kind of Airdrop analyzing all details, cause the community is totally anxious…

1.- Uniswap : airdrop average 400 UNI

2.- 1Inch exchange: airdrop average 600 1INCH

3.- Whiteswap: airdrop average xxx WSE???

2 Likes
#6

1.Should be minimum worth 400$
2.Liquidity providers should be provided handsomely per liquidity pool.
3.Staking rewards should be lucrative enough for people to lock at least 50% of airdropped tokens.

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#7

I agree with of the points raised, especially regarding the probability of a large dump immediately after the airdrop, i think reasonably, the amount of tokens should be met in the middle of the other two exchanges, say 500 tokens?

In terms of price mechanics and percentage of distribution, thats not my area of knowledge to speculate or calculate effectively.

Also, i am unsure where to post or launch this as an official voteable suggestion. If anyone who’s interested knows how to properly launch this suggestion, feel free! put a link in the comments.

If the current price is 0.01p GBP for 1 WSE, then 500 tokens upon release will be £5, which doesn’t seem like much incentive, so despite the price increase with 24 hours upon release, potentially speaking the airdrop could be increased to 1000 tokens? any thoughts? then at least on release its worth £10, then if people pump and dump their shares, the likeliness of many hodlers staying on board to stake and add liquidity when the price rises is more likely.

Thanks for all your interest and sharing your thoughts!

3 Likes
#8

This was just the airdrop for people who basically swapped on each exchange…liquidity providers were given alot more on uniswap…

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#9

Airdrop is good for hyping up the product, but wouldn’t it affect the price? like, everyone will just sell it and dump the price of token. I don’t think it’s good for the whiteswap itself

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#10

I agree with @fablo because when airdrop occurs people always try to sell obtained tokens/coins almost right away what in our case, will cause a dump of WSE token price. So, we need to bear that in mind before doing an airdrop otherwise, it won’t help the product.

I am more than sure that if there will be a $400 worth airdrop it will simply encourage people to sell WSE tokens and make quick profits instead of holding them.

Does anybody have any ideas on how we can do an airdrop and at the same time avoid a dump of WSE token?

2 Likes
#11

Airdrops are typically unsuccessful. Like Andermolly said, the vast majority of people will dump the token or at this point in time, not even know they have the token. Until we get fully listed, we are practically invisible. You do not see our tokens in hardware wallets or any wallet, unless you manually create the coin.

Any airdrop needs to come after the community makes a name for itself.

So my thoughts are would be to forget the airdrop and focus on growing our user base. We need to spend time on our Medium page, there are two posts there, people look and see a dead site with like 19 followers.

Fix broken links, the docs page is a dead page. This is a simple fix so let’s take care of that.

We have 96 wallets holding WSE according to etherscan. We need this in the thousands or this site will fade away. Getting listed on Whitebit will be a start but we need to be on coindesk, cointelegraph, prominent personalities to take interest and start talking about the value of the site.

At 60+ days in, with a market that has a short attention span on gains, we are behind the curve.

4 Likes
#12

Agree with Nuzcat above, an airdrop is not a replacement for care and value to users.

That being said, I am radically in favor of an airdrop, at the right time. The timing is so so key. I am particularly in favor because I am only in the defi space because of an airdrop, and the encouragement from having redistributed funding was what brought me into defi and ultimately to Whiteswap. Some of the early buzz about it is all centered around the redistribution model and how Whiteswap is much more decentralized than some of the other projects.

The airdrop has to be significant - 10$ won’t make much of a difference whereas other airdrops have had a huge impact on those who need it most: early adopters exploring the space and those who can grow their bag and ultimately create growth and wealth in the space. So I say make sure that the price is high enough that you aren’t flooding with lots of WSE to provide enough value (too early), but timing it so the amount of WSE in the airdrop is providing enough value to make an impact on smaller traders and early adopters.

A well timed airdrop when there is already buzz and word of mouth in the space can really help accelerate growth.

2 Likes
#13

Reviewing everyone’s comments, what comes to mind as a generic solution to the market dump upon an airdrop would be something similar to a time-lock.

Here me out,

Let’s say for easy numbers sake that an airdrop of 100 WSE goes to users and LP’s. There could be a smart contract that states that address that hold on to their coins for certin amounts of time, (1 week, 2, weeks, 4 weeks, etc) should receive “royalties” which would be a small fee gained through transactions.

The longer you hold, the more rewards you get. This will prevent large dumps, and only a small percentage will use it as quick cash. The users who understand the rewards program will hold out and bring more activity to the WSE. Potentially end the rewards program after a block number is reached.

Thoughts?

1 Like
#14

I think a set timelock to use the airdrop would be easier to program and more effective… just make it 2 months locked… and do similiar airdrop to uniswap with anyone interacting with the contract getting like 4,000 WSE and liquidity providers getting a larger sum based on their liquidity and amount of time liquidity provided for. Then lock the tokens for 2 months, which was a normal liquidity mining time.

2 Likes
#15

Glad you agree, I feel you wrote it more clearer than me. 100% agree with your comment.

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