Community-driven crypto initiatives survive

As hundreds of thousands of eligible users and DAOs tried to claim Arbitrum’s native governance token, ARB, on March 23, excitement spread across the layer-2 protocol. Due to high demand, the airdrop claim website collapsed after its launch, displaying 404 and 429 errors for over an hour.

Arbitrum, one of the largest blockchain initiatives without a token, was expected to fail. Despite the competition, technical challenges, market reductions, and regulatory uncertainties, community-driven projects in the industry may succeed.

Arbitrum is neither the first nor the final attempt to arrange large crowds. In February, 1.2 million Core DAO tokens were airdropped to users. The 2021-founded project has 1.6 million Twitter followers and 215,000 Discord members before its main net launch.

“From the beginning,” Core DAO creator Brendon Sedo said. “Our community values transparency. Too many projects hide their progress. We emphasized information diffusion across several platforms.”

For Core’s blockchain, Satoshi Plus combines proof-of-work with delegated proof-of-stake. The Satoshi App, a free software that lets users “mine” in-app goodies, collaborated on this airdrop. As 25% of the token supply was allotted to the partnership, Core said the app helped deliver tokens to the network’s actual users.

Web3 and metaverse systems need community engagement. The virtual environment Aftermath Islands Metaverse is about to reach 4 million resource pack NFT users in 140 days since its initial play-to-earn game, gaining the remaining 1 million users in 15 days, according to the corporation.

“Our focus is not on user numbers since all of our users are anonymously verified using our Proof of Humanity technology and have a single account with no duplicates, fakes, or bots.” This effectively removes “eyeball” measurement and false conclusions, letting us focus on user behavior, “Aftermath Islands MD David Lucatch said.

Resource pack NFTs prove ownership of products that may be traded or used as personal items on the platform. Pack claims 60,000 new real users daily.

Cryptocurrencies have always been decentralized and community-driven. Core DAO’s Sedo worries about project insiders and community ownership limiting blockchain’s potential.

“The core blockchain trilemma gets an abnormal amount of attention with too few solutions,” he said, adding that networks must choose between security, scalability, and decentralization. Many networks and efforts accept that decentralization must be surrendered to scale.”