Usecases for the Bitshares BEET Airdrop tool!

in #bitshares6 months ago

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What is the Bitshares Airdrop Tool?

It's a recently released multi-platform application which enables anyone to perform airdrops (asset distributions) on multiple Bitshares based blockchains.

What can I do with the Bitshares Airdrop Tool?

  • Fetches vote lock tickets from the blockchain
  • Enables analysis of tickets
  • Summarizes user tickets and creates a leaderboard for analysis and airdrop basis
  • Provides the means for generating provably fair airdrop vectors, with multiple algorithms to select different users to receive airdrops.
  • Provides an overview and summaries for multiple user-generated airdrop vectors
  • Using a calculated airdrop vector, apply additional requirements such as a mandatory quantity of an user specified asset, lifetime-membership requirement, and multiple token allocation methods.
  • Outputs airdrop JSON files for upload to Bitshares BEET multiwallet for executing airdrops on the blockchain.
  • Enables the creation of blockchain vote lock tickets

Airdrop example ideas!

So, now we've established the ability to easily craft and execute highly customized and provably fair airdrops on Bitshares based blockchains, let's talk about who might perform them and why!

NFT distributions

By distributing user issued NFT assets onto users on the blockchain you can advertise your greater NFT collections.

If you've only got the one NFT to distribute, you can allocate the NFT to the user with the most winning tickets by selecting the "Round robin allocation" distribution method.

If you've got multiple of the one NFT to issue, but don't want divisible amounts distributed, selecting "Round robin allocation" then input the quantity of NFT to issue, this will allocate whole NFTs to the winning tickets from most winners to least, looping around to the top winner once

Lottos/Lotteries

A blockchain user could create and sell an UIA on the DEX, then require this token in winning ticket holder's balances to qualify for airdrop.

Whilst calculating the provably fair airdrop, they could lower the likelihood of winning tickets by rejecting the "always winning ticket" option, meaning that tickets which fall outwith the pool of allocated leaderboard ticket numbers won't result in a winning ticket.

By reducing the quantity of winners, the 'jackpot' to airdrop will be greater per winner.

This differs from a normal lottery in that the user would only need a single number to win, as opposed to say 8 small numbers.

The 'lottery ticket' UIA could either remain permanently in the user's balance, or they could be retrieved back by the asset creator after an airdrop distribution.

Such a qualifying UIA could either be resalable and transferable on the DEX, or the asset creator could lock down such blockchain actions through the asset's settings.

Encouraging lifetime-memberships

Those interested in boosting the blockchain reserve pool through the purchase of lifetime-memberships could advertise their intent to airdrop assets onto lifetime-members (by enabling this airdrop LTM requirement).

It's possible that this meta could encourage more users to purchase lifetime-memberships on the blockchain, boosting the reserve pool considerably.

Further, this could result in greater participation in the referral mechanism as LTM has an associated cost which could be recovered over time through both airdrops and referrals.

Encouraging creation of vote locks

Those interested in improving the decentralization of blockchain governance could signal their intent to airdrop onto ticket holders, which alongside the fact that this airdrop tool only targets ticket holding blockchain accounts for distribution, could encourage the creation of new vote lock tickets and thus result in a more decentralized governance for multiple blockchains.

One could create a worker proposal to distribute a set amount of BTS per month onto token holders, with approval from the blockchain to do so. This hasn't been done yet, however it's a possible option to reward voters and to encourage creation of further vote locks.

There's a balancing act to this one though:

  • If you choose to proportionally reward ticket holders based on a multi-algo airdrop vector, then you likely will reinforce established vote lock distributions as their vote power could increase proportionally as a result.
  • If you select only the "freebie" airdrop vector algo, then what might end up happening is the creation of many spam accounts with a minimal lock quantity to qualify. Secondary token requirements like a minimum core token quantity in their account may be required to avoid such attempts to game airdrops.

Advertising your UIA on the DEX

Some NFT creators have created UIA tokens which are used like shop points to purchase NFTs from their available NFT collection, with more points available for purchase on the DEX.

By airdropping a small amount of this token on ticket holders you could draw their attention to your UIA, associated project and potentially entire NFT collections.

Rather than having to transfer UIA to all accounts (including inactive accounts), or establish your own custom distribution algorithm (DEX usage/activity factors), you can use the airdrop tool to enable distributions against provably active blockchain users.

Before you would have had to know a programming language to perform large scale distributions, no more!


So, what do you think about airdrops on Bitshares based blockchains?

Do you have plans for an airdrop?

Which airdrop idea above appeals to you the most?

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