Original | Odaily Planet Daily (@OdailyChina)

Author | Asher (@Asher0210)_

Last night, Towns, led by a16z Crypto with a funding of $46 million, finally launched its TGE and opened the airdrop for claims (For a detailed introduction to the Towns project, see: Towns, which raised $46 million, is about to go live, and the airdrop is likely to be "small tokens"?). However, major communities did not erupt in a frenzy of "big token gains," but were instead drowned in a wave of skepticism regarding the project's airdrop mechanism:

• The points and airdrop amounts are disproportionate, and the level of activity has no relation to the airdrop; big holders lose out, real users lose out;
• After insisting on daily check-ins for months, the final airdrop received is less than what was given for brushing Binance Alpha;
• After finally being able to claim airdrop tokens, one still has to stake for 30 days to receive an additional 50% of tokens; do these tokens count as part of the airdrop? If not staked, whose tokens are these?
• Users who consistently check in and enter different towns are deemed "witches"; what exactly is the standard for witch addresses?
• ……

Although a previous article objectively analyzed that the Towns airdrop was likely to be "small tokens," the actual airdrop results show that this Towns airdrop is not only "small tokens," but also treats many real users as witch addresses. Most importantly, although the airdrop is marked as nearly 10% of the total token supply, in reality, early users only account for 3%.

Analysis of the top ten addresses on the leaderboard: the most received only $6,000 worth of token airdrop, with multiple front-row addresses not qualifying for the airdrop

Based on on-chain data and the official airdrop query website launched (query address: https://eligibility.towns.com/check), the analysis of the airdrop amounts for the top ten addresses on the Towns leaderboard is as follows:

• Top address: 0x447eac5102d70715ab39b3ed1a094bbac1fd06d5, points: 15,302,605, airdrop tokens: 14,312;
• Second address: 0xed4440c79c68dcf945c3fc1fcf2f8b1e3940e34c, points: 10,282,204, airdrop tokens: 31,464;
• Third address: 0x410c87a00bb79f069754e03606769ee8ce3da6f8, points: 8,020,211, airdrop tokens: 26,771;
• Fourth address: 0xa350e08ca97a79f95394047f94681f4cb689da86, points: 7,866,452, airdrop tokens: 150,000;
• Fifth address: 0x88f0e561558bc55edb4e0f7a0d31b8608d6b0adb, points: 6,500,000, no airdrop eligibility;
• Sixth address: 0x200f5b01ae0c635a8e2a9357e93415620db4bfe6, points: 6,360,000, no airdrop eligibility;
• Seventh address: 0x250fcf1b03f6d79bfbbc5177b775d5a8ddd771ae, points: 6,140,000, no airdrop eligibility;
• Eighth address: 0x7647c0887fe0060e3c7c0d17cc1877237d133621, points: 5,500,000, no airdrop eligibility;
• Ninth address: 0xfda6396cc3c528ded4aa09c5a0ec531e88bdc857, points: 5,500,000, no airdrop eligibility;
• Tenth address: 0x3d4eb29af62aa1ef193d4d520fcca4ddecd8bc09, points: 3,177,896, airdrop tokens: 4,226.

From this data, the results are astonishing: addresses ranked 5th to 9th, despite holding millions of points, do not even qualify for the airdrop, or are directly treated as "witch addresses" by the project. Even more shocking is that the address with the most points, "Top Address," accumulated over 15 million points, ultimately only received less than 15,000 TOWNS tokens, which, based on current prices, is worth less than $600—essentially "earning points to exhaustion, but losing out on the airdrop."

The address that received the most airdrop among the top ten only got 150,000 tokens, with a market value of around $6,000. This seems okay? But don't forget, to achieve such high points, it can be assumed that the user joined many paid towns; if the costs are calculated, not only did they not make money, but they likely didn't even break even.

In short, from the first to the tenth, millions to tens of millions of points resulted in mostly meager airdrops, with many not receiving a single token. So the question arises: who actually received the TOWNS tokens? If the front-row users are merely "runners-up," where are the real airdrop winners hiding? Which addresses did the large amounts of tokens actually flow to?

In the 10% airdrop share, early users only account for 3%

According to feedback from "token hunters" KOL Ice Frog and several experienced token hunters, of the 9.8% airdrop share announced by Towns for the community, about 3% was allocated to community points users; Binance Holder users received about 3%; the Binance Alpha program is estimated to account for 1% to 2%; the remaining portion was likely allocated to activities held by other centralized exchanges, such as Bybit.

Although the official statement emphasizes the importance of the community in the airdrop, in practice, more tokens were allocated to exchanges and their related activities.

Long-time users who have committed to community building and daily check-ins received fewer airdrop tokens than CEX users

According to feedback from several deep participants in Towns' community builders, they spent months continuously producing content in their created towns, inviting newcomers, and insisting on daily check-ins, only to receive less than 1,000 tokens as airdrop rewards, even less than the 1,359 tokens received by users who only met the Binance Alpha conditions and had never interacted with Towns before.

This comparison not only ignores individual contributions but also exposes the airdrop mechanism's undervaluation of "real users." Community members spent months participating in building, bringing real user data, revenue, and market promotion to the project, but ultimately received airdrop shares that were even less than those CEX users who had never heard of the project until yesterday.

A recent emerging trend is that— in order to launch on more centralized exchanges during the TGE, many project parties treat real community users as "electronic beggars," while treating exchange users as "honored guests." It should be noted that the latter, even if they receive a lot of airdrops, mostly sell them off at the opening; while community users who are willing to participate early and stay long-term are the ones who will continue to use the protocol and generate ongoing revenue for the project after the TGE.

If the community cannot benefit, how long can the "decentralized narrative" of Web 3 projects really last?

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