On June 2nd, it was reported that the airdrop earnings of Binance Alpha have undergone significant changes recently. The airdrop earnings of EDGEN have dropped sharply in this period. Based on a rough estimate of the current secondary market price, the revenue from this airdrop is only 43 US dollars. This is in sharp contrast to the previous airdrop returns of Binance Alpha, which usually remained within the range of $80 to $120 in the past.
Binance Alpha, as an early exploration platform that has attracted much attention in the field of encryption, previously attracted a large number of users to participate with generous airdrop returns. Users earn points by conducting transactions, holding assets and other behaviors on the platform, and then meet the point thresholds of different airdrop activities to claim airdrop rewards. In past airdrop activities, participants often reaped considerable profits, which made Binance Alpha extremely popular among cryptocurrency enthusiasts. For instance, in the airdrops of some projects, users who obtain airdrop tokens by meeting the points conditions can earn far more returns than expected after trading in the secondary market. This has prompted more users to join the ranks of those who accumulate points to obtain airdrop qualifications.
However, the significant reduction in the airdrop revenue of EDGEN this time came as a surprise to many participants. According to Binance’s announcement, the airdrop rules this time require eligible users (holding at least 223 Binance Alpha points) to claim 1,111 EDGEN airdrops on the Alpha event page starting from 18:30 Beijing time on June 2nd. When claiming, 15 Alpha points will be consumed. And it must be confirmed within 24 hours. Failure to do so within the time limit will be regarded as a waiver. Even if users meet the points threshold and successfully claim the airdrop, according to the current market price, the final revenue they receive is only about 43 US dollars.
Previously, the competition in the points game of Binance Alpha was extremely fierce. With the participation of more and more users, the points threshold kept rising, while the returns of each airdrop gradually touched the obvious upper limit. Judging from the recent situation, when the points threshold once exceeded the 200-point mark, the airdrop returns dropped sharply to a relatively low level. For instance, in the previous RDAC token airdrop, the selling amount was only about 25 US dollars, which was difficult to cover the cost of obtaining high points. To earn points, users need to complete a high volume of transactions every day. For instance, when reaching the threshold of 205 points, users need to spend as much as 8,000 US dollars in transactions each day. Coupled with transaction slippage and Gas fees, the daily cost may exceed 10 US dollars. If the standards are not met, not only will time and energy be wasted, but losses may also be faced.
The sharp drop in the revenue from EDGEN’s airdrop this time may further dampen users’ enthusiasm for participating in the Binance Alpha airdrop event. In the future, it is worth continuous attention whether Binance Alpha will adjust the airdrop rules to balance the relationship between the points threshold and the airdrop returns and attract users to actively participate again. At the same time, this phenomenon also reflects the uncertainty of the returns from airdrop activities in the cryptocurrency field. When investors participate in such activities, they need to be more cautious in assessing the risks and returns.
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