Ethereum co-founder Vitalik Buterin sees crypto airdrops as a promising preliminary use case for blockchain-based identity frameworks.
In an Aug. 28 put up on X, Buterin outlined the objectives of airdrops as distributing tokens to real neighborhood members, rewarding undertaking contributions, and guaranteeing equity. He recommended that initiatives might leverage ZK-based identity, credential, and attestation frameworks to realize these goals.
He emphasized:
“We can actually use all of these identity/credential/attestation solutions that the identity geeks have been working on for the past 5 years in order to…actually [have] good token distributions.”
Buterin added that present identity initiatives like Worldcoin may want to include proofs of neighborhood membership as a result of crypto initiatives intention to reward aligned neighborhood members, not simply random people.
Buterin’s concept comes at an important time as crypto airdrops have confronted rising controversy. Many members try and recreation the system by utilizing a number of wallets to farm airdrops, usually with worthwhile outcomes.
This has pushed initiatives to tighten their distribution strategies to filter out airdrop farmers. Nonetheless, these measures generally impression real customers.
Discounted gross sales
Buterin additionally recommended that the identical framework might be used for discounted token gross sales. He defined that the extent of a person’s neighborhood membership or contributions might decide the variety of tokens they’ll buy at a lowered worth.
He famous that this strategy might assist distribute the availability extra pretty, reward non-financial contributors, and guarantee consumers have a stake within the undertaking.
Buterin commented:
“Any technique that works for airdrops also works for discounts. A related concept is to subsidize savings rates for smaller accounts as an alternative to UBI. Singapore’s CPF already does something similar.”
Nonetheless, the Ethereum co-founder conceded that his concept might face implementation challenges. In accordance with him:
“I don’t think there’s any one solution, I think it’s a multi-factor thing that will have to evolve over time. It’s an inherently hard problem, but it’s a super rewarding one, because if we solve it, that solution could naturally be exported to much better reward all kinds of currently-uncompensated work in our economy across all of humanity.”
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