DAO Token Whitelisted for BAL Airdrop
Following the success of its token drop and its private sales, DAO Maker is once again in the news for yet another exciting event. China-themed this year, 2021, the Oxen year, with many cryptocurrency enthusiasts calling it the year of the bull, and have seen the market breaking various high points and reaching new heights. For example, Bitcoin made a high of $57,000 in less than six months since the start of the bull season, reaching a Trillion dollar asset class, flipping major markets in the world.
Consequently, the same is said for world number 2 in blockchain cryptocurrency, Ethereum. Ether broke $2k in an unprecedented move, creating a new all-time high. This recent bull-run in the market creates unique possibilities and opportunities for special events to occur.
Uniswap protocol, a DEX exchange platform on Ethereum, recently surpassed Coinbase in the amount of volume popularizing the retroactive airdrop campaign back in September 2020, signaling the start of this type of campaign. The DEX users woke up to a 400 UNI claim button on their DEX, which was dubbed crypto stimulus, as it was worth around $1200 at the time. If users had held their tokens till now, they would have been up more than $8000 already in today’s worth.
Many DEX protocols followed suit, Balancer, 1inch, Paraswap, to name a few. For several reasons this type of airdrops have gained massive adoption, but top of that list is the fact that they only target specific members who have contributed to the network activities in various capacities. For example, LP providers were the most rewarded in many of these retroactive airdrop campaigns. Therefore it’s no surprise when a platform like DAO Maker, one of the top accelerators in the blockchain space, seeks to adopt this type of airdrop style to reward its holders.
BAL Airdrop for $DAO Token Holders
Unlike the traditional style of airdrop campaigns, retroactive style airdrop resembles that of the DAO Maker social mining program, where only quality activities, contributory contents are rewarded. It is similar to DAO Maker’s unique approach to reward community contributions.
Balancer is only the third-largest DEX on the Ethereum blockchain, and its token will be airdropped to $DAO token holders. $DAO holders can now provide liquidity to earn $BAL tokens as yields through published farming events.
Yield farming activities are common with many decentralized finance (DeFi) projects. With yield farming, platform users get active income by staking or providing liquidity and are rewarded in more ways than one, usually with the token pair liquidity provided. For example, a user providing X and Y tokens on a DEX platform gets rewarded a proportionate value of the % amount of X and Y tokens each time trade activities happen on that pair. In the case of uniswap, the reward rate is at 0.3%.
But outside automatic DEX rewards to liquidity providers, DAO Maker will be airdropping $BAL tokens to its users for providing liquidity.
$BAL airdrop marks one of the first event for the DAO Maker #35DOG. In the line-up of DAO Maker events, this event is aimed at promoting blockchain-themed events. By simply using the hashtag #35DOG, users can follow the progress of the event daily on Twitter.
About DAO Maker
DAO Maker is a Prague-based accelerator and project incubator in the blockchain. Responsible for creating unique token offering models, like the Strong Hand Offering (SHO), a type of token offering that seeks only high-quality contributors and members ready to grow the project and protect the project team and Dynamic Coin Offering (DYCO), modeled with the same goals as the SHO, ensuring a risk-capped and insured token offering where participants are not afraid of losing the value of their held tokens or the loss of their funds in general.
Its social mining program is a governance and semi-governance protocol used by many top 100 assets like Elrond, Avalanche, and NEM.
It has recently launched a launchpad for the Binance Smart Chain network (BSC), opening up an even more expansive space for developments and developers using the BSC network.
Recent Listings and $DAO Utilities.
$DAO token holders can now enjoy high liquidity available in both of the top Ethereum DEX Uniswap and 1inch, the safety of Kucoin, and the reliability and stability of Gate exchange with a view to more listings in the future.
$DAO token is expected to grow exponentially high in value as more use cases, and products get added in the future. The market is believed to be in its early days.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
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