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Breaking down why 99% of wallets received nothing from RedStone:

FIP Crypto

FIP Crypto

99% of airdrop hunters got nothing from RedStone. ​ Even those with high RSG were ineligible. ​ Here's my breakdown of how the airdrop was designed to reward 'real users':


Discord roles mattered most ​

RedStone stated that: "without roles, tokens could not be earned". ​ No matter how much RSG we earned, we would not be eligible for anything.

Even though I participated in multiple campaigns, I was ineligible.

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RedStone prioritised: ​

  • Highly engaged community members

  • High-quality contributions ​

Content creation or being a RedStone ambassador was valued more.

Here are some of the roles that were considered: ​ ❍ Deep Miner – for being one of the top engaged Miners ❍ Mentor – for introducing new Miners to the community ❍ 🧬 IRL – for meeting RedStone team members in real life ❍ ❄️ Winter Miner – for participating in the Winter Campaign ​

I had these roles in Discord but it didn't count for anything.

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Ultimately, they valued community participation the most: ​


Pure on-chain participation was penalised ​

Interestingly, RedStone considered those who only participated in on-chain activities (like me) as a Bad Miner.

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RedStone didn't want to reward users "based on how much capital they deployed to farm an airdrop". ​ I minted multiple Galxe OATs too, but they weren't considered.

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Instead, they rewarded time and genuine engagement. ​ Due to the difficulty of achieving these roles, it's likely that a small group of wallets received a large allocation each. ​ This airdrop serves as a timely reminder of the number one rule for airdrops: ​


​Projects get to decide their rules for airdrop distribution ​

No one knows what criteria the project will use. ​ Given how Sybils are ruining airdrops: ​

A project identifies their real users and rewards them while filtering Sybils.

If they care about their community. ​ There is no perfect formula to receive an airdrop, and the criteria always changes. ​ Just like how none of the L2s followed Arbitrum's formula. ​ This is the game we're playing with airdrops: ​ We have no control over our allocation, and can only hope that our contributions are valued by the project. ​ A project owes us nothing just because we interacted with it. ​ Each project sets their own rules, and we need to adapt accordingly. ​


Moving forward ​

Does this change my strategy? ​ Nope, it's still business as usual. ​

I'm taking the L and moving on with my life. ​ There's no point in hurling insults at the team or being bitter with the outcome. ​ Being an active participant in a Discord server takes up too much time, and I'm personally not a fan of 'grinding' for Discord roles. ​

If you truly believe in the project, it could be a nice way to get rewarded for your contributions by helping the community. ​

But I still prefer being active on-chain: ​ I get exposure to different projects while building my on-chain footprint. ​

I didn't go hard for RedStone, and mainly participated in every on-chain campaign. ​

If other projects decide to use the same airdrop model and penalise pure on-chain activity too: ​ So be it. ​

It's impossible to get every airdrop, and there's always more opportunities available. ​

Eventually, a project will reward my wallet's on-chain footprint. ​

And that's why I believe participating in modular rollups is the best way to gain exposure for these drops. ​

I shared more in my strategy below: ​

https://x.com/FIP_Crypto/status/1877341951714013438

Thanks for reading! ​

If you want more like this: ​

  1. Follow me @FIP_Crypto

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  3. Join my Discord server for more exclusive alpha: https://discord.gg/ESfXxgGHgR

Breaking down why 99% of wallets received nothing from RedStone: