DeBank is about to launch its L2 chain, and the airdrop criteria have been leaked in advance?
Holding the "official interaction guidelines" that do not constitute a reference opinion, I won't be sheared back, right?Author: Loopy Lu, Planet Daily OdailyNews
Recently, DeBank announced its plans for DeBank Chain, another well-known player joining the altchain craze. Official information indicates that DeBank Chain will be developed as a chain focused on social interactions, adding an asset layer to social behavior to revolutionize social interactions. The testnet for DeBank Chain is now open, and the mainnet will be available before 2024. Data from the testnet chain explorer shows that the number of on-chain wallet addresses has exceeded 19,000.
The opening of the testnet has also given yield farmers a glimpse of potential wealth. However, in recent times, various "yield farming losses" incidents have occurred. Can DeBank's chain launch plan still allow yield farmers to make money?
DeBank Chain: Low-Cost Social Chain
To understand DeBank Chain, we need to start with DeBank. DeBank is a well-established DeFi management dashboard where users can track their portfolios and use integrated trading features for investment operations.
In December 2021, DeBank completed a $25 million equity financing at a valuation of $200 million, led by Sequoia China, with participation from Dragonfly, Hash Global, Youbi, Coinbase Ventures, Crypto.com, Circle, and Ledger.
In January 2022, DeBank launched a Web3 social platform and Web 3 ID feature, allowing users to follow whale trading dynamics, NFT market trends, track Mirror article updates, and monitor real-time on-chain activities of Web3 friends.
In October 2022, DeBank launched the Web3 native communication application DeBank Hi.
As a well-known project, most investors (and media friends who frequently query on-chain data) are quite familiar with DeBank, so there is no need to elaborate further.
DeBank Chain is a new chain named after the DeBank brand, similar to several recent L2s, and is also developed based on the OP Stack. DeBank states that this chain has three advantages: minimizing gas costs; providing a native experience similar to account abstraction; and ensuring the security of L1 assets.
Specifically, DeBank Chain has made significant progress in optimizing the consensus mechanism, reducing the gas cost of a single transaction by 100 to 400 times. The official also stated that it can bring a "next-generation" level of user experience, providing a chain-level account abstraction system that is natively integrated. This allows users to enjoy an experience close to Web2 while maintaining 100% compatibility with the EVM standard.
In the new account system, transactions support signing with a dedicated L2 private key, reducing the use of L1 private keys in usage scenarios and enhancing the security of users' L1 assets. This also lays the foundation for users to perform higher-frequency operations, and the official believes that this feature "fully adapts" to the high-frequency nature of social interactions on our platform.
How to Participate in "Yield Farming"?
Currently, I have not found the RPC URL for DeBank Chain, so I cannot manually add it from MetaMask. However, the testnet has been integrated into Rabby Wallet, which includes a test token faucet. If users want to experience it, they should use this wallet first. The participation process is not complicated:
Download and install Rabby Wallet, import or create a wallet.
Find and click "More" on the main interface.
- Click "Request DeBank Testnet gas tokens."
- To obtain testnet gas tokens, you must meet the prerequisite—holding a "Rabby Badge," which users need to claim first.
- Follow the wallet instructions to navigate to DeBank and mint a badge called "Rabby Valued User."
- Once you have the badge, you will be eligible to obtain gas tokens.
Airdrop Rules Leaked? Perhaps Just a Misunderstanding
It should be clarified that DeBank has not officially announced detailed airdrop plans, and there is no mention of airdrop specifications.
However, two weeks ago, DeBank's GitHub released a snapshot standard for "valuable Web3 users," stating in the document that witch addresses, "yield farmers," and low-net-worth bot addresses are ubiquitous on-chain. This has led to a lack of precise, comprehensive, and publicly available high-quality on-chain user data for the snapshot behavior. DeBank has selected a group of "valuable users" according to their standards and taken snapshots of such addresses.
Their criteria include: net worth > $1,000; having minted a "Web3 ID"; address in DeBank's TVF > 0.
It should be reiterated that this standard does not necessarily correlate with any potential airdrop from DeBank Chain. Many users have already adopted this standard as a yield farming benchmark and are bulk "brushing" addresses, making future outcomes unpredictable.
Looking back at recent airdrop events, we cannot help but notice an interesting phenomenon—airdrops are becoming increasingly difficult to profit from, and there is even a risk of being "reverse-yielded."
In earlier years, some large airdrops created a wealth effect, leading more users to complete interactions through data brushing rather than genuine usage. Project teams often take advantage of this FOMO sentiment, continuously launching more on-chain interaction "tasks" to entice users to complete more interactions, boosting the popularity of new products during their cold start.
Recently, after several well-known projects announced their airdrop allocations, they faced community backlash due to the limited number of airdrop tokens or high airdrop requirements.
As DeBank's chain launch approaches, a new round of airdrop "interaction brushing" will begin. Odaily Planet Daily will also follow up and report on the future release of airdrop details and results.
