DeFi
Scrolling airdrop farmers can now track their points. But will this satisfy the skeptics? – DL News
- Scroll launched a dashboard for users to view their brands.
- Marks are points earned by users for their activity on the blockchain.
- Deposits on Scroll exceeded $25 million in the last 24 hours.
Airdrop farmers on Scroll can now check their total earned points in the blockchain network much criticized loyalty campaign program called Sessions.
It remains to be seen, however, whether this move will assuage criticism of points programs that are increasingly appearing in the world of DeFi.
Scroll, an Ethereum layer 2 blockchain with $87 million in repositories, launched a dashboard on Wednesday where users can view their Scroll Marks – the name chosen by the project for its points program.
Marks, like other previous blockchain points programs, represents an activity score assigned to a user’s wallet address to assess the footprint of their transactions on the blockchain.
Users who spent more than $5 on bridge Three eligible tokens – Ether, Wrapped Staked Ether, and Stone – for Scroll received retroactive points as long as they did so between October and April.
Scroll TVL has soared 46% since the points program was announced
However, not all on-chain activity during this cutoff period was rewarded with a retroactive points drop.
Scroll only considered users who spent more than $5 to link three eligible assets to the blockchain: Ether, Wrapped Staked Ether, and Stone.
Users can continue to earn loyalty points through the Sessions program and Scroll says it will add more eligible assets.
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Scroll’s total value locked – a DeFi measure for investment volume in a protocol or blockchain – has increased 46% since Sessions’ announcement last month.
The volume of cryptocurrency bridged to Scroll even exceeded $25 million in the last 24 hours – a record for the blockchain, DefiLlama. data watch.
This is despite community criticism of the points program.
Point reviews
Critics of the move, like popular pseudonymous airdrop farmer CC2, have previously stated that DeFi loyalty point programs have become a formulahighlighting projects like Manta, Paradigm, and Blast that used the same marketing ploy.
The backlash directed at Scroll and others stems from pushback from blockchain users who say the project teams are using a points program to attract depositors to their chains to create a semblance of activity for their networks.
Depositors themselves are piling into the supply of blockchains points programs in the the hope of obtaining precious symbolic airdrops in the future.
Such initiatives, however, may not be as cost-effective as in the past given how projects are adopting new rules for their airdrops.
LayerZero, in its recent airdrop announcement, asked Sybil users to self-declare or risk losing all tokens allocated to them. Sybil users are mercenary farmers who deploy a pool of several thousand wallets to boost activity on target protocols or blockchains in order to get a larger share of the airdrop.
In addition to projects adopting more aggressive anti-sybil protection, many recent airdrops have did not meet market expectations. This is because most of the airdrop recipients chose to sell their tokens immediately, which caused the price of the token to plummet.
Osato Avan-Nomayo is our DeFi correspondent based in Nigeria. He covers DeFi and technology. To share tips or story information, please contact him at osato@dlnews.com.