INTRO

In my previous article , where I talked about the new Meta in Crypto being Airdrops, in the Solana dedicated section I briefly talked about BULBapp. In this article, I will give you a deep dive, on what it is, details and characteristics, how to Farm their tokens and why I think it’s convenient to do so. First of all, BULBapp is a decentralized application developed on the Solana blockchain, whose objective is to reward writers and readers. In fact, it’s pretty much a Medium clone, Blockchain edition. I know that you might be thinking, it’s the usual DO to EARN app, a waste of time. And maybe it is, but in my opinion there are valuable reasons to give it a shot and see where it goes. Before getting to my reasons for farming $BULB, let’s take a look at what it is, exactly.

WHAT IT IS

Their Twitter Bio defines it as a place where ideas, passion and engagement are all rewarded. This concept is then extended on their website, where they emphasize their choice of a DO to EARN model, by saying: “that they want to popularise the concepts of WRITE to EARN and READ to EARN”. Then they continue with: “A place where you can write, read, share, react to and comment on content to earn tokens” . To conclude with: “together we can eliminate the middle-man and reward the once unrewarded”. Ok, they’re all great words, but what you really need to know is that it’s a Medium like platform that allows us to earn tokens for writing, reading and interacting with various articles. These Tokens aren’t tradable yet, but they should be by the second half of 2024. In my latest article, we’ve seen many projects implementing a points system, that preceds the arrival of a Token. It’s not much different, because you still have to interact with the Dapp and do some specific challenges, but instead of the points you directly get the tokens in your wallet, but you can’t trade them, yet.

PROS

Before getting to the most important part, Tokenomics, I want to illustrate you why I think that the DO to EARN model might be suited for this type of Platforms, if implemented correctly. You’ve probably already thought about it yourself, this is a great way to get people to read more articles than usual, even the ones they usually wouldn’t read. Of course, this also leads to many BOTS that are just there to farm the Airdrop. Which means, many useless comments (Yes, you get tokens also for comments). But, at the same time, there is also many interested people and comments of people who want to know more. Which means, much more discussion than usual, that expands the articles. Furthermore, by being a decentralized App, posts can’t be just banned, they have to be reviewed by the users who will vote if the content is inappropriate, spam… This is much better, because content can’t be taken down arbitrarly by a company, but it’s a users choice. If you’re someone who often writes and reads articles, I recommend you to give it a try. It won’t costs you a lot of time, especially if you’re already doing it here on Medium, you can just copy and paste your articles there and see how it goes.

$BULB

Lets get to the interesting stuff, is it worth it in terms of expanding your wallet? As said, if you’re already a writer, for sure. Even if it ends up not being worth much, you won’t have wasted much time and you would have brought your content to a wider audience. In the other case, lets analyze the situation. You will be surprised in knowing that $BULB has a capped supply (In theory at least) of 1 Bilion tokens, a number that will be reached in 2027. This is weird, given their DO to EARN model, but definetely a great news for us. The other good news is that there has already been a pre sale, which means there are investors backing the project. In fact, the $BULB you earn are shown with a price, that price is derived from the pre sale price. If we consider that price as the possible launch price, I can tell you that earning aren’t incredible, but definetely not low. BULBapp, also has a capped supply for weekly earnings. Considering that there still aren’t many users, and they also haven’t an enormus following on their various socials, it means that we can earn lots of tokens every week. If we suppose that adoption will increase with the increase in attention for Solana, we are able to accumulate lots of tokens before people in full FOMO start apeing in every project they see. So, considering the already high attention the Solana ecosystem is getting, and in case it continues to increase (very likely) into the second half of 2024, we can expect a decent valuation for the token (probably not the one shown in the app, but still decent). Not financial advice.

CONCLUSIONS

As said in my last article, Airdrop season has begun and Solana is one of the most interesting ecosystem in regards of great tokenless projects. So, I wouldn’t be surprised, moving forward with this narrative and the arrival of new investors, even more niche projects like this will start gaining traction. That, is the reason why I’ve been farming it in the past few months and I’ll keep at it. After all, I’m already writing here on Medium, I don’t see a reason why I shouldn’t post there as well. I mean, Medium doesn’t pay me, BULB does (sort of… ). If you want to give it a shot, you can start here: bulbapp.io . Remember that you need a Solana based wallet, I suggest Phantom that you can download on the Chrome web store, here: https://chromewebstore.google.com/detail/phantom/bfnaelmomeimhlpmgjnjophhpkkoljpa?hl=it .