Ethereum co-founder Vitalik Buterin sees crypto airdrops as a promising preliminary use case for blockchain-based id frameworks.
In an Aug. 28 publish on X, Buterin outlined the objectives of airdrops as distributing tokens to real neighborhood members, rewarding challenge contributions, and making certain equity. He steered that initiatives may leverage ZK-based id, credential, and attestation frameworks to attain these goals.
He emphasised:
“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 id initiatives like Worldcoin may want to include proofs of neighborhood membership as a result of crypto initiatives purpose 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 to sport the system through the use of a number of wallets to farm airdrops, typically 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 steered that the identical framework may very well be used for discounted token gross sales. He defined that the extent of a person’s neighborhood membership or contributions may decide the variety of tokens they will buy at a lowered worth.
He famous that this strategy may assist distribute the provision extra pretty, reward non-financial contributors, and guarantee patrons have a stake within the challenge.
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 may 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.”
