Post by @zkjew • Hey
Really interesting approach by Kain, founders hoping to break the traditional airdrop meta should really read his thread.
https://twitter.com/kaiynne/stat
Comments
- ngl miss the ye old Yam farms
- So run back DeFi summer 👀
- I liked what he wanted to mention at the thread's core, but I believe he is missing the fundamental mechanism of airdrops.
Teams need funds to build their projects/protocols, get their tokens listed on an exchange, and market to reach new users and investors.
This often leads projects to raise funds somehow, mostly from VCs.
VCs want to see good stats, a big community, and potential buy pressure to bet on it. But how will projects meet these requirements without funds?
The airdrop narrative seems like a good start in this regard. It helps projects grow their early community, raise funds, and continue building and growing.
The problem is not the airdrop itself; it's part of the solution, but not the first one we should address. We need to change the funding model first.
There are some great VCs and angel investors, but most players in the investment space just want to make a 10x return as quickly as possible. They don't care about the project, vision, or product.
We need to break the reliance on these greedy investors. We need to democratize the funding process by onboarding retail investors. That's why we started working on a crowdfunding feature directly empowered by your Lens profile and social capital for the @lens/kaira platform. Maybe it's the way, or maybe we need a better solution. But I believe the problem lies in the funding flywheel.
- 😄