Dmail Airdrop: Another Airdrop trap?
Much anticipated project Dmail announced its upcoming airdrop in Jan 29,2024. The result for me is quite disappointing. VC and Developers take most of the token leaving no room for users and its community.
The Tokenomics of Dmail
The total supply of $DMAIL tokens is 200 million, which are distributed among different stakeholders of the project. The largest allocation (38%) goes to the community, which includes airdrop rewards, ecosystem development, and OKX Jumpstart. The investors, core team, advisors, foundation, and treasury each receive 15% or 17% of the tokens, depending on their role and contribution.
Airdrop Season 1 is mean
The first season of the $DMAIL airdrop will start on January 30th, 2024, when the token is listed for trading. Users can claim their airdrop rewards on BNB Chain within 30 days. The airdrop pool consists of 7.5 million $DMAIL tokens, which is 3.75% of the total supply. The tokens are distributed to different categories of users, based on their involvement with the Dmail project. The eligibility criteria for the airdrop are strict and designed to prevent Sybil attacks and airdrop hunters. Users who meet the criteria but have not received the airdrop may have been flagged as part of a Sybil attack.
Airdrop Season 2 is coming in a less effective way
They already announced the season 2 airdrop. Airdrop Season 2 is to reward the Dmail community members who complete tasks on the Dmail DApp and the Subscription Hub. The airdrop pool consists of 4.5 million $DMAIL tokens, which is 2.25% of the total supply. The airdrop amount is based on the number of points earned by each user. The airdrop will end in 4-6 months after the TGE, and then the $DMAIL tokens will be exchangeable.They also claim to have 4 seasons of airdrop in total. However, the share of airdrop is not that much as most of the shares are token by VCs and Dev.
VCs take the lead
Dmail completed its seed round with HashKey Capital as the tier 1 investors valuation at 11 million. Its subsequent round saw Amino Capital take the lead in the strategic round. Kucoin and Draper Dragon joined the Pre-Series A round as tier 2. Given the valuation of Dmail at 200 millions, each token is worth around 1 usd with an airdrop of 7.5 million for its almost 0.5 million user base. That is close to nothing.
