LayerZero launches "airdrop tax", huge profits eventually go inward

24-06-21 11:09
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Original title: "Pay money to get ZRO, this airdrop has a new Pay to Earn activity"
Original source: TechFlow

Good news, ZRO airdrops are available.

Bad news, you need to pay to get them.

Previously, the market questioned that the number of LayerZero airdrops was too small, and everyone said that they had worked hard for a long time but the amount seemed not enough; the feeling of "insulting airdrop" came naturally.

And this insult seemed to come twice.

On the evening of June 20, LayerZero officially announced that the ZRO airdrop is available, but this claim is not free:

Users must donate $0.10 USDC, USDT or native ETH for each ZRO to claim the ZRO token.

LayerZero calls it a new claim mechanism called Proof-of-Donation, and will donate up to $18.5 million to the Protocol Guild, a collective funding mechanism for Ethereum developers.

Leaving aside the transparency and purpose of the donation, from the user's perspective, this rule is in plain words:

If you want to claim the airdrop, pay first.

This is the first time in the crypto market that airdrops are played.

You have seen all kinds of scams such as pool withdrawal, empty white papers, sorry we failed, etc., but it is unheard of to collect donations from your airdrop.

So Airdrop to Earn became Pay to Earn.

Forced donations, strong contrast

What is even more emotional is a "historical review" section displayed on the LayerZero official page before ZRO was collected.

Before you receive ZERO, the page will give you a yearly review column similar to that often used by domestic Internet companies, with warm reviews such as "You used omnichain for the first time on X day", "You interacted X times", etc., as if to remind you of the hard days of interacting and waiting for good expectations.

This review itself is fine, but compared with the donations on the final collection page, it seems a bit sad.

This seems to be saying that all your previous efforts and interactions have increased the financial burden of your donations when you finally collect them.

Bulk hair? Make a boutique account? Multiple chains together?

No problem, the clown is actually you.

Until the last moment, you still don’t know what the restrictions on the collection page are; and according to the inertia of the industry, you will only think that the rules for allocating the number of airdrops may be a bit unfair, after all, it is difficult to satisfy everyone.

But the design of paying money to receive airdrops is something you really can’t think of until the end. However, as the project owner, it may have designed it long ago, but it just can't be said at the beginning. Putting it in the last step is nothing more than making your sunk cost larger.

Here, the collection rules agreed in the smart contract have become a thorn in the eyes of many Mao Party members. Sorry, there is no way to change it. The contract has been written. If you want to receive it, you have to donate.

It's not that donations are bad, nor that everyone has no kindness; it's just that this design that looks a bit forced and malicious can easily make people feel a comparison and gap in their hearts, and then understand "donation" as "robbery".

Airdrop tax, robbing the rich and the poor

If we abstract this donation button, we can actually understand it as a kind of "airdrop tax".

The project owner rewards you for your interactive behavior, but the amount of the reward is actually decided by the project owner. At the same time, there is no law that stipulates that the project owner cannot extract part of the tax from the reward amount for other purposes.

People are the butchers and I am the meat. Giving you airdrops is already very good. What's wrong with collecting taxes?

From the perspective of the project, this is reasonable, even a little greedy; but from the perspective of the majority of users, I am afraid that this project takes itself too seriously.

As for large households and bulk money collectors, if they are required to pay donations for each ZRO, then the large households will obviously have to pay much more. But small households are not spared either. Under the design of 0.1 for each, all beings are equal, robbing the rich and the poor.

Some netizens even said on Twitter that the donation tax they were charged was not strictly designed according to 0.1/piece, and they had to pay more in actual situations, which was a complete robbery.

And coupled with the soaring gas fees during the airdrop period, small households will feel that they have made money but not fully earned it, or even been tricked.

In the future, will you still be resolute in making money with multiple accounts? And those studio-level airdrop hunters need to carefully calculate their input-output ratio and keep their costs as low as possible; after all, no one can estimate what the tax rate of this donation is.

Making money, from the huge profits of the golden age, eventually went to involution.

User volume, more and more people come, you don’t interact, some people interact. Project volume, in the end you get less and less, and even taxation is designed.

There is a saying that goes, the future is here, but it is unevenly distributed.

LayerZero’s payment for ZRO is the first, but it will definitely not be the last in the future.

Subsequent project owners may use more moderate tax rates, more circuitous excuses, and more grand narratives to take a portion of the airdrops you have already received. As a market participant and a recipient of rules, you may have no other choice.

Want to collectively not cross-resist this behavior? In a decentralized and diverse crypto forest, this is even more difficult.

Lower your expectations and live within your means. There is no free lunch in the world, and there may be no free airdrops in the future.

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