Airdrops: An Analysis of Over 2,000,000 Events - 6MV
Airdrops have been a common but understudied part of token generation events (TGE). The mechanism is simple – distribute freshly minted tokens to the right wallets to help establish an initial float, enable on-chain governance, power transactions, reward early contributors, and potentially attract new users. We believe that such a ubiquitous element of token design should be quantitatively studied to determine best-practices. We collected data on over 2 million airdrop events across 40 protocols and analyzed the two most important choices that token designers face: We use several different approaches to answer these questions, including price performance, volatility, and wallet activity. Our analysis and datasets are publicly available (Coming Soon) and we encourage contributors to help grow the data set and analysis. Our final dataset includes 40 airdrop events from 40 protocols and the activity of 2,098,698 unique wallets. Note, we specifically only used airdrops from 2023 and earlie
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