TL;DR
The 2nd round of BUILD noms will be announced this Sunday, July 7th.
BUILD Airdrop 1 claiming period was extended to July 4th, 4pm UTC.
96% of airdrop participants donated tokens, including 20K+ that committed all their earnings.
All builders who committed 100% received a Talent Passport credential.
BUILD reinterpreted the Manifesto for Onchain Builders with an inspiring NFT video on Zora.
Join the Builders Brunch Club in Brussels, on July 12.
BUILD Nominations: Round #2
The first BUILD Airdrop had over $1M USD to distribute to onchain builders, based on an innovative distribution system based on peer-to-peer nominations.
Incredibly, 96% of the 42K participants decided to donate their tokens! More than 20K people actually committed all their earnings, with some donating as much as $30K worth of $BUILD tokens, and less than 2K people chose to cash out all tokens.
All ~85B $BUILD tokens committed from Airdrop 1 are now in the BUILD Summer Fund, and will be redistributed to builders during this Summer.
50B $BUILD tokens will be allocated to a 2nd round of nominations, to run during the summer
~35B $BUILD tokens will be distributed to onchain builders using other mechanisms, for example by sponsoring initiatives like /base-builds
This Sunday, July 7th, we will reveal the start date for the 2nd round of BUILD nominations, as well as some of the changes we plan to introduce this summer.
Airdrop 1 closes on July 4th, 4pm UTC
We extended the claiming period for BUILD Airdrop 1 until July 4th, at 4pm UTC. This extension allowed us to update the airdrop smart contract and solve some tech support issues. You can read more about the Farcaster custody wallet issue in the previous announcement.
If you wish to commit 100% of your $BUILD tokens, but still aren't able to do it onchain, at the build.top website, you can just reply to this cast until July 4th, and we'll add your commit manually to the database. This way you can still get the BUILD credential in the Talent Passport (see below).
The BUILD Credential for the Talent Passport
All builders who committed 100% of their $BUILD Airdrop 1 token allocation, will see their Builder Score increased. Points received are based on the amount of tokens committed:
Tier 1: >1B $BUILD committed (20 points)
Tier 2: >100M $BUILD committed (16 points)
Tier 3: >10M $BUILD committed (12 points)
Tier 4: >1M $BUILD committed (8 points)
Tier 5: >100K $BUILD committed (4 points)
The decision to only give the credential to people who committed 100% (and not to people who committed 50%) is the sole responsibility of Talent Protocol, not BUILD.
The rationale for the decision has to do with the fact that committing 50% was, financially, the smarter choice. Claiming all tokens meant you lost the multiplier, so in most cases you would get less tokens when compared to committing 50%.
Airdrop 1: Learnings & Numbers
Tolga Dizmen and Jondar both did a great job of keeping track of BUILD data throughout Airdrop 1. And, thanks to Tolga's dashboard, it's super easy to visualize what happened during this airdrop. Read more about how Airdrop 1 worked in this announcement.
Some Airdrop 1 numbers I want to highlight (as of July 3rd) are:
41,397 users, which represent 49% of all eligible wallets, already claimed or committed ~87% of the Airdrop 1 total token allocation
From those 41K users: 50% committed all their tokens back to BUILD, 46% committed half and claimed the other half, and only 4% chose to claim all tokens.
The BUILD Summer Fund currently has 85B+ $BUILD tokens, to be redistributed to builders until the end of this summer.
Almost 34B $BUILD tokens were claimed by builders worldwide, and there are currently 48,786 $BUILD token holders.
All tokens earned by non-eligible users and tokens forfeited by users you chose to claim all tokens (because they lost their multiplier) will be burned, to start decreasing the supply of $BUILD. We expect the total amount of tokens burned to be between 15 to 20% of Airdrop 1's total allocation of 150B $BUILD.
Building is a lot about learning: you build, get feedback, learn, and build again.
Given all the overwhelming support and positive vibes we got from builders worldwide, I want to share some of our learnings publicly:
Using multiple systems for authentication and eligibility (Farcaster, Talent Passport, ENS, Gitcoin), made it very complex to aggregate unique identities at the start, and to calculate Airdrop 1 allocation. For the coming nom rounds we plan to use the Talent Passport ID has the primary identifier, making it possible to aggregate multiple wallets.
The word "commit" is powerful and super relevant for our community, but it wasn't clear for everyone what “committing” meant: staking or donating?
Instead of asking people to commit 100% of their tokens, we could've asked them to commit 80 or 90%, so they also receive some tokens and have skin in the game.
The leaderboard gave the top 50 a lot of visibility and a considerable advantage. If we had alternative methods for discovering people to nominate would help spread nominations out more evenly and bring attention to less well known builders
We used Gitcoin Passport's Humanity Score for sybil protection, but a lot of people (understandably) confuse Humanity Score and Builder Score, and Gitcoin Passport and Talent Passport.
Our airdrop claim/commit system wasn’t very effective at separating people that were somewhat committed to the project from people that were trying to maximize their earnings, because "Claiming 50%" of tokens was actually the smartest financial move.
It wasn't clear where community members should go for official announcements. The official channels are: /build, @buildbot and @buildtokenbase
It's super important to share often what the BUILD community is about, our vibe, and our longer-term goals.
Buildathon Bounty Winners
BUILD was one of the sponsors of the Onchain Summer Buildathon by Base. Our June bounty asked participants to recognize and reward the best builders on Base, and had prizes for the most creative use cases using the BUILD token or API. More info about the bounty here.
Congratulations to @yanvictorsn.eth and @samuellhuber for winning the bounty!
We plan to continue promoting more BUILD composability, by improving the BUILD API and creating more public bounties. If you have ideas, reach out to @juampi on Farcaster for more information about the BUILD API and other technical or product questions.
Born to Build
On May 1st, Talent Protocol and dozens of partners launched the Manifesto for Onchain Builders. On the 1st of every month, they continue to celebrate onchain builders and their quiet contributions to a better tomorrow.
For the July edition, Talent Protocol asked the BUILD community to reinterpret the manifesto. I worked with @courinha to create this inspiring video and word play.
Join the movement to support onchain builders by minting the NFT.
BUILD IRL Events
BUILD Hacking Weekend in Lisbon (29-30 June)
BUILD partnered with Base and Talent Protocol to provide an hacking space for Buildathon participants. A space to build together and support each other during the 2 final days of this month-long virtual hackathon. Here's some pictures:
Builders Brunch Club in Brussels (July 12)
Base, BUILD, Eden and Talent Protocol are calling all onchain builders to gather in Brussels, on July 12th, to celebrate Onchain Summer together. Whether you're already building the future internet, or if you just want to find out more about building onchain, this delicious Belgian brunch is for you.
