TL;DR

• The Round 2 of BUILD Noms will end on Aug 27th.

• We will allocate 30B $BUILD to all Round 2 participants, after running an anti-bot algorithm to convert BUILD points to tokens. The current Round 2 Leaderboard on build.top is not final.

• Claiming Round 2 tokens starts on Aug 29th and will be another pivotal moment for the community to "vote" with their tokens on the future of BUILD. Choosing to burn tokens will have 3 benefits: enter a raffle, increased Builder Score, and exclusive BUILD sneakers!

• For the next 5 weeks, we will be testing rounds.wtf as the new nominations infrastructure.

BUILD Round 2 Airdrop

BUILD Round 2 is ending after 6 weeks

The Round 2 of BUILD nominations ends on Tuesday, Aug 27th, at 9am UTC.

Round 2 was initially planned to last until the end of Summer, lasting a total of 10 weeks, but we saw a decline in engagement from builders, so we decided to end it sooner, at week 6.

We will distribute a total of 30B $BUILD to the 25K+ Round 2 participants, which represents 60% of the 50B tokens initially allocated to Round 2 noms, since only 6 of 10 weeks have passed.

The remaining 20B $BUILD tokens will be added back to the BUILD Summer Fund, and distributed using other mechanisms until September 30th.

BUILD is collaborating with multiple communities to distribute tokens to committed builders, including Base, Optimism, Talent Protocol, Rounds, Devfolio, Celo, Coop Recs and Funding the Commons. BUILD also partnered with farcaster channels like /design, /fbi or /yellow.

Check the full BUILD Summer Fund distribution here.

How and when to claim my tokens?

To claim your Round 2 $BUILD tokens, you need a Talent Passport with a Human Checkmark, before Round 2 ends on August 27th.

Claiming Round 2 tokens will be available from August 29th until September 30th.

It's important to note that the current Round 2 Leaderboard is not final. We will still verify all 500K+ nominations, in order to calculate a fair conversion of Build Points into $BUILD tokens.

This verification process involves an anti-bot ranking algorithm to identify trustworthy builders and penalize overly reciprocal nominations. You can read more about the algorithm we developed here.

BUILD Custom Ranking Algorithm

A custom ranking algorithm, based on HITS, to identify trustworthy builders and penalize overly reciprocal nominations.

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Builders, how do you feel about BUILD?

On BUILD Round 1, 96% of the 42K airdrop participants chose to commit to the project by donating half or all of their tokens. Claiming Round 2 tokens will also be a pivotal moment for BUILD, and another chance for community members to show how they feel about the project:

1. Claim all your tokens, if you think we should sunset BUILD before the end of 2024. The option to claim all tokens will only be made available in early September and we’ll exclude your wallet from future BUILD initiatives.

2. If you want BUILD to continue supporting onchain builders, you'll be able to contribute to the project’s sustainability by burning 90% or 50% of your token allocation.

Burning your Round 2 tokens will have 3 benefits:

1. Automatically enters you to a 5 ETH raffle. Every 100K $BUILD burned equals a raffle ticket. The draw will happen in October, after the claiming window ends, and only if a minimum of 15B tokens are burned.

2. Increases your Builder Score and your aggregated BUILD reputation, visible on a public Top Contributors leaderboard. This rank takes into account: $BUILD burned on Round 2, $BUILD committed on Round 1, $BUILD you’re holding, LP rewards, and initial contribution on Party App.

3. Top 10 Contributors on October 1st win a custom pair of BUILD sneakers.

What's next for BUILD?

BUILD Nominations continue in September with rounds.wtf

BUILD nominations will continue, but we will test a new format until the end of September. We will test Rounds as the infrastructure for nominations on Farcaster for 5 weeks.

With this approach you don't need to worry about eligibility criteria, weekly budget or build points. You will be able to claim your share of $BUILD tokens at the end of every week.

From Aug 27th until September 30th, simply cast “nom” or "nominate" in the /build channel, and tag the person you want to nominate (only one nom per cast). You don’t need to tag @buildbot anymore.

All casts liked by curators will share the weekly reward of 2B $BUILD. The person receiving the nomination will be the one entitled to the reward, not the owner of the cast.

We will experiment different groups of curators to understand what works best. One possible approach is considering likes from all $BUILD token holders, while more curated approaches could consider only the Top 100 BUILD Contributors or the top 100 followers of the /build Farcaster channel, according to OpenRank.

You can check all nominations in real time at https://rounds.wtf/build.

BUILD V2

BUILD is more than just a tipping coin. The vision is building an economy that can empower more builders to come onchain.

Following the footsteps of Base, which coined the term “Universal Builder Income” earlier this month, BUILD will explore novel approaches to distribute financial incentives efficiently and at scale.

With Web3 developers still roughly 1,000 times fewer than traditional developers, UBI is crucial for ensuring the crypto ecosystem has the talent it needs to succeed.

Round 3 of BUILD is expected to go live in October.