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This Dude Woke up To Find $2M in His Wallet…

April 3, 2024
in Web3
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TL;DR

Full Story

Think about waking as much as discover you’ve had nearly $2M dropped into your crypto pockets…

Appears a little bit too-good-to-be-true, proper? 

Properly, it’s not.

This really occurred to somebody earlier this week, through the Ethena Labs airdrop (aka crypto giveaway) marketing campaign, and after trying into it — it looks as if a helluva strategic transfer by Ethena. 

Right here’s what we imply: 

Ethena Labs runs an artificial greenback cryptocurrency, $USDe. At launch, they created the ‘Shard’ marketing campaign which incentivizes individuals to contribute to their ecosystem. 

You might earn factors (or shards) by means of buying and staking $USDe or by telling your pals to work together with the ecosystem (like a crypto referral program).

The primary goal right here was to onboard individuals into the ecosystem. 

(Which our man with the $2M airdrop maxed out on).

However that is the place Ethena acquired actually freaking sensible. 

The airdrop didn’t reward early customers with $USDe, however as an alternative, Ethena’s new governance token $ENA.

(The place, for each $ENA token somebody holds, they get one vote in any adjustments made to the community).

In doing so, Ethena was in a position to reward early customers with out diluting the availability of $USDe, and concurrently incentivizing customers to vote, take part, and assist to develop its ecosystem.

Spherical of applause to the Ethena Labs staff!



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