Community-driven crypto projects still thriving despite headwinds

The launch and airdrop of Arbitrum’s native governance token ARB took place on March 23rd, creating buzz in the layer-2 protocol as hundreds of thousands of eligible users and DAOs attempted to claim the token. Overwhelming user requests caused the airdrop’s claim page to crash shortly after launch, displaying 404 and 429 errors for more than an hour, Cointelegraph reported.

Since Arbitrum is one of the largest blockchain projects without tokens, the hype about the decline is expected. However, it is an example of how community-driven projects in the space can still thrive, despite competitors, technical challenges, market downturns and regulatory uncertainty.

Arbitrum is not the first – and certainly will not be the last – project to expand its audience. In February, the token distribution of the DAO’s core layer-1 protocol followed a similar engagement recipe, with 1.2 million tokens delivered to individual users. Even before the launch of the mainnet, the project established in 2021 has more than 1.6 million Twitter followers and more than 215,000 Discord members.

“From the beginning, community ownership and inclusion was our main goal,” core DAO contributor Brendon Sedo told Cointelegraph. “Transparency is another key for our community. Too many projects close the curtain on their progress and development. We have made it a priority to disseminate information on various platforms.”

Related: Arbitrum’s ARB token marks start of airdrop season – Here are 5 to watch out for

The core blockchain uses a Proof-of-Work and Delegated Proof-of-Stake consensus mechanism known as Satoshi Plus. The airdrop is done in partnership with Satoshi App, an app that allows users to “mine” in-app rewards without requiring payment or exclusive invitations. According to Inti, the App is very important to help get tokens into the hands of real users of the network, with 25% of token supply dedicated to partnerships.

Community involvement is also key to Web3 games and metaverse platforms. Cyberworld Aftermath Islands Metaverse is estimated to have reached 4 million NFT resource packs created just 140 days after launching the game’s first play-to-ear, adding 1 million end users within 15 days, the company said.

“Our focus is not on the number of users, because users are verified anonymously using the Proof of Humanity solution that can only have 1 account without duplicate, fake or bot accounts. This effectively removes “eyeball” measurements and false results. , so we focus on what that’s what users do,” explains David Lucatch, managing director at Aftermath Islands.

NFTs resource bundles represent real ownership of goods that can be traded or used in a different way on the platform as private goods. The daily generation of real users Pack sits at 60,000, claims the company.

Decentralization and community involvement have always been key aspects of crypto. Inti DAO’s Sedo says project insiders and lack of community ownership are threats to blockchain’s potential. “[…] chain must make tradeoffs between security, scalability, and decentralization,” he explained, adding that “the classic blockchain trilemma gets a lot of time in the spotlight with very few solutions. Many chains and projects simply admit that in order to be scalable, they have to sacrifice decentralization.

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