BUILD Log #5: Airdrop 1 Is Fully Unlocked

• Airdrop 1 is fully unlocked: eligible users can now claim their entire token 1 allocation.

• If you don't commit any $BUILD tokens, your allocation multiplier will not be considered.

• Some users are having an issue claiming, but there's a workaround.

• We’re moving funds and governance decisions from party.app to Safe multi-sigs.

• We are doing a first round of payments to contributors, to cover their costs.

It’s now possible for eligible users to claim their entire Airdrop 1 token allocation (if they haven’t claimed or committed already). The token claiming period will be open until June 30th.

Remember that, if you choose not to commit any $BUILD tokens, your allocation multiplier will not be considered and your BUILD budget for the next airdrops will be much lower.

BUILD is only sustainable if we continue to pay it forward, so we strongly encourage you to commit at least 50% to the BUILD Summer Fund (more details here). "Committing" means you're donating your $BUILD tokens to be distributed to builders in the next airdrop.

You can check all the Airdrop 1 data in this Dune dashboard, created by Tolga.

Some users are getting a "Transaction failed!" error when claiming. This error likely means that your airdrop was allocated to your Farcaster custody address (an address created for you when you created your account, to register your FID).

If this is happening to you, you can find a workaround for it here.

We don't have another solution at the moment. If you don’t want to use this workaround, please fill this form below, so we can help you after June 30th. 

Most users have multiple wallet addresses associated with their Talent Passport or Farcaster account. In preparation for Airdrop 1 we had to select one address to whitelist for the airdrop. We used $BUILD tokens as a criteria to identify the main wallet of each user. But, for a few Farcaster users that didn’t hold any $BUILD tokens at the time of the snapshot, the whitelisted address might have been their Farcaster custody address instead of their EOA. Future airdrops won't have this issue.

We decide to sunset our presence on party.app moving forward. Besides still having the name BOSS, most of the conversation has moved to Farcaster, so we will be discontinuing communications and decision-making on party.app, and transferring funds to Safe multi-sig wallets.

The app and the entire PartyDAO team were fundamental for the successful launch of BUILD, but the project is now in a different stage, that requires a different set of communication and governance tools.

We’re creating 2 Safe wallets: one for Airdrop 1 ops (15% supply), and another for the remaining treasury (55%).

We already transferred 150B $BUILD tokens (15%) to the Airdrop 1 Safe (read more about this transaction here), which was then sent to the airdrop smart contract.

We will transfer the remaining funds ($BUILD and ETH) from party.app to the BUILD Treasury Safe before the end of June. This Safe will require 5 out of 9 signers to confirm transactions, which include the original 4 party hosts.

You can check the Safe addresses and who the signers are here.

As mentioned in the tokenomics, 10% of the total supply of $BUILD is reserved for ecosystem grants. This will be a key incentive for the long-term success of BUILD, so we want to have time to decide what’s the best system to distribute them. But we also want to for project contributors to feel valued and motivated, and there's some past costs and contributions we will pay now.

We will not use the Ecosystem Grants allocation to cover these costs. Instead, they will be covered by the trading fees (ETH) earned from the Uniswap Liquidity Pool (until we launch the Ecosystem Grants program).

Check this page for the full list of costs incurred up to May 31, 2024.