Fractal airdrops 1 million FBs. What is its current OTC valuation?

Original title: "Fractal airdrop before mainnet launch, not pig's feet rice but universal tap?"

Original author: Golem, Odaily Planet Daily

On the evening of September 6, Fractal Bitcoin announced that it would airdrop FB to eligible UniSat users and OKX wallet users. Users can go to the UniSat Rewards Query page and the OKX Rewards Query page to check the number of FBs obtained. As long as the conditions are met, an address can also receive airdrops from both sides at the same time. The airdrop will automatically reach the user's address after the mainnet is launched.

This airdrop totals 1 million FB, accounting for 0.47% of the total token supply. UniSat and OKX wallets will each allocate 500,000 to eligible users.

Fractal is one of the projects with the highest attention and enthusiasm in the Bitcoin ecosystem during this period. Therefore, as soon as the token query news came out, major Bitcoin ecological communities also became lively. However, various FUD voices are also spreading on social media and in the community:

"The share of airdrops given to the community is too small, accounting for only 0.5% of the total, the project party is too stingy"

"The number of rewards for loyal addresses such as OG cards, Prime cards and early BRC 20 swap users is actually at the same level as the minimum living allowance rewards for assets held on the mainnet testnet"

"The new address used by the testnet has no balance on the mainnet, so this airdrop completely excludes me"

"The balance requirements for the mainnet and testnet have been raised, and the previous pure testnet coin collectors have no chance"

......

So, how exactly are Fractal's airdrop rules designed before the mainnet launch? Why does the community have so many negative reactions? Odaily Planet Daily will explain Fractal token economics, airdrop rules, and OTC price information in this article.

Project and Token Economics Analysis

Fractal Bitcoin is a Bitcoin extension solution that aims to use BTC core code to recursively create an infinite extension layer on BTC to improve transaction processing capabilities and speed while maintaining full compatibility with the existing Bitcoin ecosystem. Fractal Bitcoin is developed by Bitcoin ecosystem infrastructure UniSat, which has received multiple rounds of financing from Binance, OKX Ventures and others.

Fractal announced the token economics on August 27, with a total of 210 million tokens, of which 80% are allocated to the community and 20% to the team and contributors. The specific distribution is as follows:

· POW mining 50%: Half of the total token supply is allocated to proof-of-work (PoW) mining;

· Ecosystem Treasury (15%): 15% of the tokens are reserved for the Ecosystem Treasury, which is specifically used to invest in the Fractal ecosystem. The treasury supports and funds initiatives to improve the ecosystem and provides funding for Fractal's continued core improvements;

· Presale (5%): 5% of the tokens are allocated to the presale, targeting early investors and network participants. These funds are essential to paying for initial development and operating costs and conducting security audits to ensure the robustness of the network. All tokens are locked for 6 months and will be released linearly over 12 months;

· Advisors (5%): Another 5% of tokens are currently reserved for advisors, who will provide strategic advice and support for the continued development of the Fractal network;

· Community Funding (10%): 10% of tokens are used for community funding, which will be used to establish partnerships and liquidity programs;

· Core Contributors (15%): The remaining 15% of tokens are allocated to core contributors who build and maintain Fractal's core software.

From the perspective of token economics, Fractal has not set aside a special part to facilitate airdrops, and many communities have speculated that Fractal's airdrops will be allocated from the ecosystem treasury or community funding.

From the circulation situation, the current 0.5% of airdrops can be ignored, and the majority is in the daily output of miners and the hands of the team. If we calculate based on an average of 30 seconds for blocks and 25 FB for each block, about 72,000 FB can be produced every day, and 720,000 FB can be produced in 10 days, accounting for 0.3% of the total. Even if the 15% taken by the team is included, the initial circulation is not high. In addition, after the mainnet is launched, players have the need to consume FB to participate in the ecosystem. The shortage of supply may cause the price of FB to rise in the early stage of the mainnet launch.

Analysis of airdrop rules

The airdrop rules for UniSat and OKX wallet users are different.

The airdrop qualification conditions for OKX wallet users are as follows. Those who meet qualification one will receive a basic reward of 6.6 FB, and those who meet qualification two will receive an additional reward of 30 FB:

Condition one: At 00:00 on September 1 (UTC+ 8), hold more than 100 USD equivalent of BTC in the OUYi wallet, and have used the OUYi Web3 market to trade Ordinals, Runes, and Atomicals assets more than 3 times in the past 6 months

Condition two: Rank in the top 5,000 in the BTC ecosystem activity of the OKX Web3 wallet.

The airdrop eligibility conditions for UniSat users are as follows, with snapshots taken over the past 90 days:

· 5 FBs can be obtained by satisfying any of the following conditions: trading more than 0.001 BTC on the UniSat market, or obtaining more than 10 UniSat points.

· 10 FBs can be obtained by satisfying any of the following conditions: holding a UniSat OG card, holding a UniSat Prime card, interacting in the BRC 20 swap on the mainnet in the early stage, holding 0.001 BTC on the Bitcoin mainnet, and holding 0.002 tFB on the Fractal testnet.

· 15 FBs can be obtained by satisfying any of the following conditions: ranking in the top 5,000 on the UniSat market, or ranking in the top 5,000 in UniSat points.

At the same time, after personal testing, the editor found that if the above conditions are met, one address can receive FB rewards on UniSat and OKX at the same time.

It can be seen that Fractal's airdrop is intended to reward real users of UniSat and OKX wallets. On the one hand, it enables most real users to obtain a minimum living allowance of 6.6 or 10 FB, and on the other hand, it also pleases "big loyal players".

However, UniSat's airdrops for platform OG cards, Prime cards, BRC 20 early experience users and top-ranked addresses have caused dissatisfaction among players, because they believe that as loyal and "high-value" users of the platform, the airdrops they receive are at the same level as the minimum living allowance rewards for holding assets on the main network and test network.

However, Fractal also made changes to the minimum living allowance reward qualification for 10 FB last night, from "as long as you hold a balance on the main network and test network" to "main network requires 0.001 BTC and test network requires 0.002 tFB", which actually further raised the threshold for airdrops. Many people also complained that "there were 10 yesterday, but it was 0 today."

Over-the-counter price

Currently, in the OTC organized by the community, the over-the-counter price of FB is between 5-8 u; based on this price, the total market value of FB has exceeded 1 billion US dollars. It can be seen that even if there is some dissatisfaction with the airdrop, the community's expectations for the price after FB goes online are still positive.

The number of airdrops inquired by most users is concentrated between 10-40 pieces (assuming there are two numbers). If 6 Selling in US dollars (if someone takes small orders), you can get a "pig's foot rice" income of 60-240 US dollars in the OTC market. However, there are only 1 million FBs traded in the OTC market. After the main network is launched, the daily output of miners will become dominant. Whether the price of FB can be strong at that time also requires further observation of market sentiment.

Not pig's foot rice but universal faucet?

From the number and eligibility conditions of this airdrop, Fractal may not intend to distribute "pig's foot rice" to users, but more like actively distributing main network faucets for real users, so that everyone has the conditions to participate in the Fractal main network ecological project test.

Before Fractal conducted this airdrop, the community had extensive discussions on whether Fractal would airdrop and the airdrop rules. Among them, there is a view that from the perspective of ecological construction, Fractal will conduct some airdrops, otherwise users will not have FB tokens to experience the Fractal ecological project in the early stage. If they all go to miners to buy, the price volatility caused by supply and demand may also inhibit user participation enthusiasm.

This airdrop is actually reminding us how to continue to participate in the Fractal ecosystem. The previous blind test network interaction behavior should be stopped. The "big" may come after the main network is launched.

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