Crypto AnalyticsEthereum (ETH)

Gas DAO project is forming to airdrop tokens to Ethereum users who have spent $ 1,559 in fees – altcoins

A new type of airdrop was very popular in the final quarter of 2021 as quickly assembled Decentralized Autonomous Organizations (DAOs) distributed a lot of value to existing crypto users. Just recently, Opendao gave Opensea users an airdrop and many people raised thousands of dollars in SOS tokens. Now another project called Gas is putting DAO tokens in every wallet that paid more than $ 1,559 in ether gas fees prior to December 26th.

Gas DAO Airdrops Token to users who spent $ 1,559 in Ether fees prior to the snapshot

Many projects this year have developed Airdrops to create a system of governance and people who have used these protocols at least once are usually rewarded with these Airdrop governance tokens. Lately, News reported about the dissolution of Shapeshift into a DAO, and the project sent FOX tokens to Shapeshift users. Our news desk is also in the first week of November covered the Ethereum Name Service (ENS) Airdrop when the project became a DAO.

Additionally, there have been crypto advocates for the past week argue the Opendao Airdrop, as everyone who used Opensea before December 23rd was rewarded with SOS tokens. Opendao (SOS) tokens today have a market value of $ 167 million and ENS has a market capitalization of approximately $ 885 million. Now a project called Gas DAO is the latest Airdrop DAO buzz as the project rewards any Web3 wallet user with GAS tokens for spending $ 1,559 in Ethereum fees prior to Dec. 26 “for the GAS token entitlement.

On December 29th, the Gas DAO team tweeted:

There are over 143 million unique addresses that have made a transaction on the Ethereum network. Gas DAO was created to be the voice and heartbeat of the most active 643,000 users within those 143 million, connecting communities spanning across Defi, Dapps, and NFTs.

Crypto Advocates review the Gas DAO code and Airdrop claims process

Of course, many people are concerned about these airdrops and the security of connecting to the application through a Web3 wallet. The application gets access to a view of the applicant’s address and processed transactions to verify the $ 1,559 spent on Ethereum fees. Twitter user Technoartoria (@artoriamaster) enrolled review of Gas DAO contract and Adam Eisenmann (@ 0xdigitaloil) also wrote a summary about “how safe and how fair it is”.

Eisenman highlighted some differences between the two Gas DAO airdrop and the SOS Airdrop. “It’s worth noting that there is a sweep feature that allows the contract holder (dev) to claim any unclaimed tokens after the claim period (May 1, 2022),” Eisenman said wrote. “This implies a potential for the developer to receive the majority of the token supply. Huge red flag. ”Eisenman’s summary continuation:

Structurally and spiritually, this contract is very different from SOS, as the developer can receive the majority of the token delivery. Unexpectedly. IMHO, definitely not a move that reflects fairness or inspires a grassroots movement to build on GAS.

At the time of writing, Gas DAO’s official Twitter page has 22.5K followers to date, as well as tens of thousands of token holders. Gas DAO celebrated how fast it was going on Wednesday with a statement on Twitter. “When you consider that it’s only 12 hours and we already have 20,000 followers and 26,000 owners,” says the Gas DAO team said. “We couldn’t have asked for a better start to our journey to become the largest and most powerful community on Ethereum. We’re just getting started here. “

According to the review by Technoartoria, the “Merkle Tree Claim cannot be manipulated” and the DAO gas is “100% secure in claim and trade”. Aside from the criticisms, Eisenman also claims in his executive summary that the claims process is secure. “Well, to get to the part you’ve all been waiting for. Is it safe to say? ” Eisenman’s tweetstorm is over. “Yes, the claim function is simple … [It] only checks the Merkle evidence (to make sure you are eligible for the amount you want to claim); and then transfers the tokens to your address. “

What do you think of the Gas DAO Airdrop and the recent DAO Airdrop craze? Let us know what you think on this matter in the comments below.

Jamie Redman

Jamie Redman is the News Lead at News and a Florida-based financial tech journalist. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for bitcoin, open source code and decentralized applications. As of September 2015, Redman has written more than 5,000 articles for News on the disruptive protocols emerging today.

Photo credits: Shutterstock, Pixabay, Wiki Commons, Gas DAO

Source: Crypto News Austria

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