Original | Odaily Planet Daily

Author | Wenser

Recently, the on-chain agent machine intelligent network Spectral announced the launch of the first season airdrop of SPEC tokens, with a total supply of 100 million tokens. The first season airdrop distribution accounts for 8% of the total supply, which is 8 million tokens. Based on the highest average price of $90 per token on May 6, this amounts to a total value of $720 million for the project. Of course, this is only a calculation under extreme conditions, and it is difficult for the circulation, liquidity, and token price to support a project of such scale. As of the time of writing, the price of SPEC tokens is $6.1, with remaining liquidity of $2.9 million, and the market value has also fallen to around $16.7 million. As the explosive attention brought by the airdrop gradually fades, perhaps it is the best time to review a "serious project". Today, Odaily Planet Daily will explore more information behind the Spectral project with everyone.

Analysis of the first season airdrop of SPEC tokens

On May 6, Spectral officially announced the launch of the first season airdrop, with a total of 8% of the SPEC token supply allocated for the first season distribution, with a total of 52,992 addresses eligible for the initial distribution.

Subdivision of SPEC token airdrop recipients: platform users, AI field contributors, NFT community

According to the announcement, the main recipients of the first season airdrop of SPEC tokens include four main groups:

• Early adopters of Spectral;
• Data scientists and open-source artificial intelligence developers;
• Generative art collectors and community members;
• Supporters of AI and Web3.

In addition, core developers who have made significant contributions to the development of Ethereum and have built important decentralized infrastructure for AI development also have a certain share of token airdrops.

SPEC token economics: community, contributors, investors

In the specific allocation of the 100 million SPEC tokens, Spectral's allocation ratio can be described as straightforward, including:

• Community accounts for 40%, i.e., 40 million SPEC tokens, with 10.3% unlocked upon TGE token launch, cliff unlocking divided into 12 months, followed by 10% monthly unlocking, with a vesting period of 30 months;
• Core contributors account for 22%, i.e., 22 million SPEC tokens, with 0 unlocked upon TGE token launch, cliff unlocking divided into 12 months, followed by 10% monthly unlocking, with a vesting period of 30 months;
• Investors account for 38%, i.e., 38 million SPEC tokens, with 0 unlocked upon TGE token launch, cliff unlocking divided into 12 months, followed by 10% monthly unlocking, with a vesting period of 18 months.

It can be seen that Spectral is quite generous in the distribution of rewards to project core contributors and investors, with the main distribution rhythm being "community first, even unlocking".

SPEC token distribution model

Notable airdrop recipients: AI tool users, blue-chip NFT holders, active Farcaster users

By combining the token airdrop list and the airdrop check interface, it can be observed that in addition to the regular Spectral platform users, past contributors, and active community users, well-known AI tool platform Huggingface users, Pudgy Penguin NFT holders, Artblocks NFT holders, and active Farcaster users also have different proportions of SPEC token airdrop shares.

Among them, active Farcaster users can receive 8.125% of SPEC token airdrop, and the corresponding qualification criteria are: having 10+ likes, 10+ followers, 10+ posts on Farcaster, and between 10 and 200 contract interactions on Base from January 2024 to May 2024. With 182 SPEC tokens being exchangeable for over 1200 USDT, this real example once again increases the value of being an active Farcaster user.

In addition, AI platform users, digital art collectors and creators, data scientists, machine learning engineers, and other groups have also been repeatedly mentioned and called upon to join the important role in the ecological construction in the token airdrop announcement by Spectral. Different from many "seemingly AI, actually Meme" AI projects in the past, it must be said that in the matter of token airdrop, Spectral has given AI the respect it deserves.

Background of the Spectral project: a $30 million financing on-chain AI agent platform

Looking back at the development history of the Spectral project, the explosion of AI can be said to have provided a new "breakthrough" for this project, leading to the next turning point.

Spectral: From programmable credit protocol to on-chain AI agent platform

From the current official introduction, the Spectral project positions itself as a machine intelligent network that allows users to build on-chain AI agents and participate in on-chain agent economy. Its main products are AI conversation tools similar to ChatGPT—Spectral Syntax and Nova, which can help users create on-chain agents and access decentralized machine learning inference for smart contracts, integrated through Inferchain to ensure transparency and decentralization.

Back in November 2021, when Spectral announced the completion of its first round of financing, it was still a programmable credit protocol based on Ethereum, mainly used to assess credit risks in Web3. With the on-chain credit scoring system, it provided an improved mechanism for assessing borrower risk and granted users complete control over their identities and pseudonyms on the blockchain.

However, in a place like Web3 that emphasizes "Don't Trust, Just Verify", limited by the complexity and anonymity of decentralized networks, on-chain credit assessment is a difficult and "thankless" task. Therefore, despite the project receiving a new round of financing in August 2022, its creation of the Multi-Asset Credit Risk Oracle (MACRO) scoring system still struggles to gain deep understanding and strong recognition from the market and users.

Time has entered March 2024, according to Coindesk's report, Spectral has launched the artificial intelligence application Syntax, which can help anyone launch smart contracts for Ethereum and dozens of other blockchains. Users can compile, debug, and deploy AI-generated Solidity code. NFTs, arbitrage bots, and trade aggregation are all potential use cases for this technology. Spectral CEO Varghese believes that cryptocurrency retail traders, rather than experienced programmers, will be the main users of Syntax.

It wasn't until this time that Spectral officially completed the transition from a programmable credit protocol to an on-chain AI agent platform, and the originally somewhat obscure product positioning became more understandable: a platform that helps users implement smart contract AI programming.

This is what led to more stories later on. After all, simplicity is power, and complexity often leads to misunderstanding.

Product interface of Spectral Syntax

Investment institutions: Polychain Capital, General Catalyst, Social Capital, and many other star institutions

In November 2021, Spectral completed a $6.75 million financing round, led by Polychain Capital, with participation from Galaxy Digital under Mike Novogratz, Social Capital under Chamath Palihapitiya, ParaFi Capital, Edge & Node Ventures (The Graph), and MetaPurse Ventures.

In August 2022, Spectral completed a $23 million financing round, led by General Catalyst and Social Capital, with participation from Samsung, Gradient Ventures, Section 32, Franklin Templeton, Circle Ventures, and Jump Capital.

As of now, the company has raised approximately $30 million in financing.

Official website interface of Spectral

Subsequent development of Spectral and potential airdrop speculation

Based on the above information, for Spectral, the possible development direction and potential airdrop opportunities for the project mainly lie in the following two aspects:

Development direction of Spectral: One-click token issuance platform or smart contract education platform

Although Spectral's current platform positioning is much clearer than before, it still has a certain threshold for many market users. Therefore, based on the existing technical accumulation and project development, Spectral may consider launching a "one-click token issuance platform" that better meets the current market demand, similar to platforms like Pump.fun and Rug.fun, to earn corresponding issuance fees while providing more data accumulation and technical support for the intelligent contract writing, auditing, and deployment of on-chain AI agents.

In addition, another development direction for Spectral may be to try to build a smart contract education platform, which aligns with the development of public goods in the Ethereum ecosystem. According to the Electric Capital 2023 Developer Report, in 2023, there were only 22,411 active open-source developers making contributions to the crypto field each month, a 24% decrease in the number of monthly active developers. If Spectral can make efforts in developer education, it may contribute to the growth of blockchain network developers.

Product demonstration interface of Spectral

Potential airdrop for Spectral: First season airdrop recipients and platform points

After the first season airdrop gradually comes to an end, the potential future airdrop for Spectral mainly focuses on two parts: first, continuing the targeting of recipients from the first season airdrop, especially groups such as Huggingface platform users and active Farcaster users, may still be important recipients of potential airdrops. Second, according to the Spectral Syntax interface, users can currently earn platform points by inviting new users for smart contract deployment, in order to seek the possibility of future airdrops.

Conclusion: Token prices may continue to decline, long-term trends depend on project financing performance

Overall, Spectral's latest project positioning has a certain innovative value, and its previous financing performance is quite impressive. However, the overly straightforward token economic model and the platform with a certain threshold may not lead to a sustained increase in the price of SPEC tokens. The future development direction of the project and the long-term trend of token prices still depend on the project's subsequent financing performance.

In the eve of the release of ChatGPT5 and AGI, perhaps we need to think more about better forms of integration and application of AI in the Web3 field.

Odaily Planet Daily reminds users to choose investment targets carefully and pay attention to asset security.

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