Shell Protocol is a DeFi project built on arbitrum, and released the toucan series of NFTs in April this year. Due to its unique shape, it is also known as the toucan. As a swap project on arbitrum, it has also received a lot of attention. The number of official tweets is 30,000, discord is close to 40,000, and the number of active users is less than 4k. The usual activity is not bad.
Recently, the official plan is to carry out token airdrops, and a proposal has been released on the snapshot. Users who hold nft can vote. The voting content is mainly about airdrops. That is to say, the shell points obtained before may become an important factor for airdrops. Therefore, shell points It has also become the focus of attention.
At present, it is almost a certainty that more than 90% of the users who voted to agree.
The Toucan NFT market is currently trading relatively active, the price is relatively good, and the circulation is relatively large, so the unit price is relatively low
Ways to earn points
Obtaining points is mainly for obtaining quotas and providing liquidity
Quotas were initially distributed to Shell v1 LP and Toucan holders on September 9, 2022. If you did not participate in v1 LP and had 1 Toucan at that time, you would have 40 quotas, providing corresponding liquidity LP will get 40 points.
After obtaining the quota, you can participate in the corresponding liquidity or exchange sh tokens to obtain points. The quota is the upper limit of the points, and the official events usually hold quotas. It should be noted that the points are only one factor that affects the airdrop, and there are other factors that affect the airdrop.
Airdrop Valuation
The number of Toucan NFTs is about 47K, and 1 Toucan can get 40 quotas, which means that the total number of points for all airdrops is estimated to be 1.88 million. Of course, not all players with quotas will participate. We Assuming 80% of players participate, then 1.5 million points.
In addition, the official did not say that points are the only way to obtain airdrops, and there may be other factors that affect airdrops in the future, which makes the entire airdrop calculation more complicated. However, if the player holds a toucan, then there is a high probability that they will continue to participate in the following of votes and activity, so we can make an estimate in terms of the number of Wallet Toucans that meet the requirements.
The previous financing details of Shell Protocol have not been announced, so we cannot estimate the circulating market value and total market value after the launch. If calculated based on the total market value of about 100 million, we assume that if the airdrop accounts for about 10%, then the airdrop token is roughly It is 10 million, that is, an airdrop with a value of about 200U for a Toucan account, but points are only one of the influencing factors, so we assume that the proportion of points affecting factors is half, that is to say, the average single account is 100u Airdrops left and right.
Of course, due to many assumptions in the estimation process, there may be a large error in reality, but compared to the overall activity of the project, we believe that the airdrop of a single Toucan 100u is reasonable, but this may still be a problem for the project party. Relatively large expenses, so if the actual airdrop amount is higher than this figure, it is likely that the airdrop may not be distributed to players at one time, and it may be distributed in stages to reduce the huge selling pressure at the beginning.
In the later stage of the project, corresponding incentives for liquidity mining will be carried out, so the token selling pressure brought about will actually be relatively large in the early stage. In addition, the acquisition cost of the toucan in the early stage is very low, and the circulation is large. NFT and other airdrop expectations, and the fact that Toucan NFT is not very scarce, this will also cause the overall gold content of the airdrop may not be particularly high, of course, if you hold multiple Toucan NFTs, then this may That's a nice airdrop.
Finally, for swap projects, it is important to keep users adding liquidity, so the important factor of airdrop is to attract players to add liquidity, thereby driving the vitality of the project, so the subsequent liquidity reward token will be a regular way , In this way, for those who have air investment qualifications, they will not actually earn much. Instead, encouraging the talents who come in later should be something that the project party should consider.