Why new blockchain projects don’t want to do “presales” anymore, and how long do you have to wait to get a gift “drop”? In the example of the COSMOS ecosystem
The publication is informative and does not encourage financial investments WEB 3.0 and “Validators”
The era of intermediaries between the customer and the service is shrinking every time people hear about “web 3.0”. Why go through complex identification, confirm e-mails, pay commissions, or use applications, if with a click there is an opportunity to immediately connect to the network?
To start interacting with “web 3.0”, it is enough to install an online wallet for cryptocurrency. Consider the example of “Keplr”, or just visit and learn a bit about the platform bitcoin360ai
“keplr” is a program for the “Chrome” browser that supports connection to and interacts with 25+ blockchains.
The functions of such wallets include the delegation of their cryptocurrencies to validators. If you hear these words for the first time, you have heard about miners, they are almost equal concepts, the difference is that they work according to the principle of “Proof-of-stake” instead of “Proof-of-work”. Validators ensure the security of the network by freezing finances in the ecosystem and directly participate in the development of the network through the power of the vote in decision-making (the power of the vote depends on the number of frozen coins in the network).
This does not mean that you give your funds to the validator’s account, the funds remain in your wallet, but you can no longer use them at any time, to gain access to them again, you need to endure a period of 14 to 28 days (depending on from network rules). This keeps the network stable and ensures safety that you won’t be fleeing at the same time when a storm begins on crypto exchanges, price fluctuations, or economic downturns. And it also ensures that other participants will not leave you alone, and everyone will stick together in difficult financial times.
And here the question arises, “why should I do this?”, course for the sake of reward about your balance. The blockchain personally thanks the $ validators for their patience, and they in turn pay you a “reward”, proportional to your share, payments are calculated at an annual percentage rate every day (Interest is very nice).
Okay, this all looks interesting, but how does this affect the desire to speculate in the stock market, if most cryptocurrency users just want to buy it lower and sell it higher? The answer is up in the air, nothing prevents you from selling the coins when the unfreeze period ends, but during this time your balance increases monthly, about 5-10% of the initial deposit, and there is also the possibility to reinvest the already earned to the frozen balance, or withdraw earned for use in other projects, transfer to fiat. Later you will ask yourself “Why should I sell them at all?”.
This is just the beginning of the journey of cryptocurrencies in resistance to falling prices. If we look a little into the dreamy future, where coins and tokens are not exchanged for fiat currency, but circulate inside blockchains when crypto-money is used to pay for goods or services, then it becomes clear that with the deflationary model of most cryptocurrencies, the conditional price can decrease only relative to other cryptocurrencies, but circulation in the network will stop fluctuating, which is why it becomes more important to increase the number of coins on the balance, instead of the equivalent in fiat currency.
Let’s return to the topic of how exactly “web 3.0” prompts the freezing of funds, and what gifts await users for this already profitable type of earnings.
The logic is extremely simple, the blockchain industry is rapidly gaining momentum, and it is not so easy to find an IT company that does not use blockchain. And more often new companies form their projects using these technologies (why issue shares under the control of the stock exchange if there is an opportunity to use one’s currency within the project).
According to the old principle of launching the project, they use “presales” (sale of coins at a reduced price, in several stages). Presales immediately provide funding for the project, and the team receives fiat funds. The dark side is that those speculators who bought coins at low prices before the sale started, drain them at the first opportunity. This age-old principle of financing is starting to come into its own in the world of blockchains, more and more projects want to keep their coins as long as possible, and when attracting new users, the total capitalization increases, which ensures branding and trust in the long term. A solution to this issue was invented, and it sounds like this – “It’s better not to do a full-fledged presale, instead we evenly distribute our coins to bona fide users of another network that already has its brand and will cooperate with us.” Under bona fide users, they mean those who delegated funds, sacrificed the possibility of speculation for the sake of the security of their network, and take a direct part in its development.
This is the principle behind “airdrops”, these are the same “gifts” from new projects that want you to protect their network in the future. Presales can also take place, but not in such a quantity that from the moment the project is launched, investors will be shocked by a crazy drop in price.
“Gifts” as an example
If we keep the funds in the network frozen, we will receive an accrual of the network coin and have the opportunity to receive “gift” coins from new networks that are created inside the main blockchain or cooperate with it.
Let’s consider examples and conditions for receiving “airdrops” in the “COSMOS NETWORK”
“COSMOS NETWORK” is a third-generation blockchain, the purpose of which is to create an internet of blockchains, direct interaction between blockchains of different types and directions using the “IBC protocol”. The internal blockchain coin is “ATOM”
Several conditions must be met in the network to receive an “airdrop” of a new project, namely those conditions that a specific project needs, and which are announced in advance even before its launch. This is a solution for the patient and reserved. The program creates a snapshot of wallet addresses on a specific day of the year, it can be a different period from 30 to 180 days. Depends solely on the wishes of the project team.
For example, to receive the coins of the decentralized “Crescent” exchange, you need to delegate the “ATOM” coin. It was also possible to receive additional bonus payments for voting in the network’s “proposals”. “proposal – a type of decision-making in the average blockchain community, under the condition of the majority of votes.”
the second stage of the airdrop of “CRE” coins of the decentralized exchange “Crescent”
Let’s look at more complex options. “Agora Metaverse” (“inter-metaverse protocol” that allows users of the “Binance” blockchain to connect to other universes, such as Decentalend). To get an “airdrop” of this project, you need to have a certain amount of frozen coins or more. But with the option of choosing which coin, it can be “ATOM”, JUNO” or “OSMO” which are part of the “COSMOS” network.
Anyone who has done a steak (aka freeze) on a 30 Atom, 30 Juno, or 50 Osmo on 04/23/2022 (shot date)
Of course, some users who receive new cryptocurrencies have a desire to sell them at the same time if possible, this trend gradually begins to fade, and most users will start exchanging coins for coins, not fiat funds. The value of crypto-currencies is increasing every day, currently, it is happening in the shadow of leading projects such as Bitcoin, and speculations on its price, but we can already look into the specific direction of development of blockchain technology itself, and not only the financial part of cryptocurrency. According to the author, we are at the nascent stage and transition from the financial value of the blockchain to its technological value, which creates products and services. Currently for the improvement of life, in the future for the technological progress of our century. After all, there is no doubt that decentralized systems where everyone has the right to vote in the development of the system are better than centralized companies that make decisions based only on their views and goals. And when you are also paid for it 😎