English
Tiếng Việt
1. What is Retroactive?
1.1. Definition of Retroactive
Retroactive is a strategy that distributes crypto projects' tokens to users based on their contributions to the project. It is similar to the project's gratitude activity for participants who experience the product, give suggestions and help fix errors from the early days.
Retroactive gained popularity after Uniswap airdropped the $UNI token to users who traded or provided liquidity to the platform. Each account was given 400 UNI tokens, with a value at that time of nearly $2,000.
Retroactive is an activity that many projects have used to carry out product promotion campaigns and attract users. Large projects such as Aptos, Arbitrum, ENS, 1inch,... all receive great attention from the community when implementing large retroactive programs for users.
1.2. Origin of Retroactive
Retroactive became popular after Uniswap's UNI token airdrop event on September 17, 2020. This exchange announced a free giveaway of UNI tokens to users who interacted with the platform through trading or providing liquidity before September 1, 2020.
Each user can receive 400 UNI, which is worth approximately 2,000 USD. This event caused many large exchanges such as Binance, OKX, Coinbase... to list and trade UNI tokens, pushing the value of this coin up in the following hours.
2. Experience in doing retroactive
2.1. How to evaluate whether a project has retroactive potential or not?
- For projects that have not yet issued tokens
The blockchain ecosystem includes many elements such as stablecoin, wallet, DEX, lending, payment... To evaluate the development potential and possibility of receiving retroactive in the future, you can classify projects by each sector and check if they have issued their own coins.
In addition, comparing these projects with competitors is also a way to help you evaluate. Find out if the project has an upcoming airdrop or retroactive by joining and interacting in their Discord, Telegram, Twitter, Reddit communities.
- The project is organizing testnet
Testnet is a method that helps developers test their products by gathering feedback and opinions from the community before the product is officially launched.
After the end of the testnet phase, projects often organize retroactive or airdrop events to thank for contributions and encourage users to experience and interact with the product.
To easily find projects that are organizing testnets and are used by many people, you can search for the keyword " testnet " or the hashtag " #testnet " on Twitter.
Twitter is the main social network that projects often use to update and inform the community about the latest news related to their projects.
2.2. Some things to note when doing retroactive to help increase your chances of receiving rewards
If you are looking to increase your chances of receiving a retroactive bonus, keep in mind the following points:
- Bridge: To maximize efficiency when performing retroactive , choose a bridge with a volume of at least $100. You should find ways to optimize your bridge to reduce fees as much as possible. For example, Orbiter is a cross-rollup bridge, you can use Orbiter to perform retroactive on Arbitrum, zkSync, StarkNet platforms.
- Dex: To meet the retroactive participation requirements , you need to have a minimum trading volume of $1,000 in the first week and make weekly transactions. Choose the right exchange to trade and increase your chances of receiving retroactive rewards.
- Testnet: To ensure you receive retroactive rewards , you should test all functions the first time you join and repeat the steps every week. Careful checking before participating in retroactive will help you avoid unnecessary errors and increase your chances of receiving retroactive rewards.
In short, to increase your chances of receiving a retroactive bonus , you need to pay attention to the requirements and notes when participating, from choosing a bridge and exchange to thoroughly testing before performing retroactive.
2.3. How to secure (when making multiple wallets)
To ensure the safety of your account when using multiple retroactive wallets, please refer to the following notes:
- Compile files: You should compile a file containing all information related to your profile and retroactive projects you are participating in.
- Profile building: Each profile should be built with a separate set of social network accounts, including Twitter, Discord, Gmail, Telegram... to increase your chances of winning retroactive.
- Do not use cracked software or applications of unknown origin and function. Avoid viewing irrelevant or harmful content that affects your website data.
- Use a proxy: Use a proxy to avoid checking your network's IP address and Sybil.
- Revoke your wallet: Periodically revoke your wallet to ensure the security of your account. Visit the revoke page to be able to perform this operation.
2.4. Mood when doing retroactive
When participating in retroactive activities, please note the following points to achieve the best results:
- Be a real user: To be able to receive rewards from retroactive activities, participate in the activity as a real user of the project, contribute ideas and positive feedback to help the project develop.
- Don't focus too much on getting rewarded: Retroactive activities can last for quite a long time, usually 1-2 years. Therefore, don't put too much emphasis on receiving rewards and ignore product experiences and opportunities to learn from the project.
- Not all projects will be retroactive: A project with a retroactive organization or airdrop for the community is under the decision of the development team and investors of that project. You will not be able to know the specific time and conditions for receiving the airdrop until the project releases relevant information. Therefore, you also need to prepare yourself with a comfortable mentality and not put too much emphasis on airdrop issues as well as manage capital well, and be willing to accept risks when participating in experiencing projects.
2.5. Large projects have been airdropped successfully
After Uniswap, a number of projects have also organized retroactivity for their users such as:
- 1inch : In order to compete with Uniswap, 1inch also announced a retroactive program distributing more than 15 million 1INCH tokens to users lasting from the end of 2020 to early 2021.
- dYdX : Decentralized derivatives exchange dYdX has set aside 7.5% of its total supply (equivalent to 75 million DYDX tokens) for free airdrops to users who have used this exchange before. The rewards received range from 310 DYDX to 9,529 DYDX depending on the user's trading volume. According to estimates, there are more than 64,000 wallet addresses eligible to receive tokens in this retroactive, making it one of the largest airdrops in DeFi history.
- Optimism: Ethereum's Layer-2 solution has launched OP tokens, and announced an airdrop for users who have supported the platform. More than 250 thousand valid wallet addresses based on standard rules of actively contributing to the ecosystem.
- Arbitrum: also a project about Layer-2 resistance solution, at the end of March this year Arbitrum announced that it will Airdrop to users. The amount of ARB airdrop will be 1.162 billion ARB, accounting for 11.62% of the initial supply.
2.6. Some projects may be retroactive in the near future
- Layers 2
Cash flow is also pouring into layer 2 and this is a potential land for you to find opportunities for yourself.
There are currently 2 leading Layer 2 projects on Optimistic Rollup that have airdropped to users, 2 other major projects under Zk Rollup still do not have tokens. You can refer to some potential retroactive projects and ways to hunt for retroactive zkSync Era .
- LayerZero
The LayerZero project recently announced it had raised $120 million in series B funding, bringing the total amount the project has raised from 5 funding rounds to $263.3 million and is valued at $3 billion. LayerZero is a project that has raised a huge amount of money (twice as much as Arbitrum) and there are rumors about the $ZRO token mentioned in the project's code, this is one of the projects with high retroactive potential. should miss.
The two projects Holograph and Cedro Finance are quite potential retroactive projects during this period.
3. Conclusion
Above are the most important retroactive experiences that TheBlock101 wants to share. Projects grow and require more experienced participants, so take every opportunity to gain your own experience. Good luck!
Read more
