Original | Odaily Planet Daily ( @OdailyChina )

Author | Asher ( @Asher_0210 )

Last night, Towns, a $46 million funding round led by a16z Crypto, finally launched its TGE and opened up its airdrop (for a detailed introduction to the Towns project, see: Towns, $46 million in funding, is about to launch, is the airdrop likely to be a "small amount"? ). However, rather than celebrating the "big amount," the major airdrop communities were overwhelmed by questions about the project's airdrop mechanism:

• The points are disproportionate to the amount of airdrops, and the level of activity has nothing to do with airdrops. Big players lose money, and real people lose money.
• After a few months of daily check-ins, the airdrops you get in the end are not as much as those you get by farming Binance Alpha.
• I finally received my airdropped coins, but I still have to stake them for 30 days to get the extra 50%. Does this additional 50% count towards my airdrop share? If I don't stake them, who gets the extra coins?
• My account that insisted on signing in and entering different towns was judged as a witch. What are the standards for witch addresses?
• …

Although the previous article objectively analyzed that the Towns airdrop was likely a "small drop", the actual airdrop results show that this Towns airdrop was not only a "small drop", but also mistook many real users for Sybil addresses. Most importantly, although the airdrop was marked as nearly 10% of the total token supply, in fact, early users only accounted for 3%.

Analysis of the top ten addresses in the standings: The most they received was a token airdrop worth $6,000, and many top addresses were not eligible for the airdrop.

Based on on-chain data and the official airdrop query website (query address: https://eligibility.towns.com/check ), we analyzed the number of airdrops received by the top ten addresses in the Towns standings. The specific data is as follows:

• The top address is 0x447eac5102d70715ab39b3ed1a094bbac1fd06d5, with 15,302,605 points and 14,312 airdrop tokens.
• The second address on the list is 0xed4440c79c68dcf945c3fc1fcf2f8b1e3940e34c, with 10,282,204 points and 31,464 airdrop tokens.
• The third address on the list is 0x410c87a00bb79f069754e03606769ee8ce3da6f8, with 8,020,211 points and 26,771 airdrop tokens.
• The fourth address on the list is 0xa350e08ca97a79f95394047f94681f4cb689da86, with 7,866,452 points and 150,000 airdrop tokens.
• The fifth-place address is 0x88f0e561558bc55edb4e0f7a0d31b8608d6b0adb, with 6,500,000 points and no airdrop eligibility .
• The sixth address on the list is 0x200f5b01ae0c635a8e2a9357e93415620db4bfe6, with 6,360,000 points and no airdrop eligibility .
• Address No. 7 on the list: 0x250fcf1b03f6d79bfbbc5177b775d5a8ddd771ae, with 6,140,000 points and no airdrop eligibility .
• Address for the eighth place: 0x7647c0887fe0060e3c7c0d17cc1877237d133621, 5,500,000 points, no airdrop eligibility .
• The ninth address is 0xfda6396cc3c528ded4aa09c5a0ec531e88bdc857, with 5,500,000 points and no airdrop eligibility .
• The tenth address on the list is: 0x3d4eb29af62aa1ef193d4d520fcca4ddecd8bc09, the number of points is 3,177,896, and the number of airdrop tokens is 4,226.

The data reveals a staggering result: despite holding millions of points, addresses ranked 5th through 9th on the leaderboard were not even eligible for the airdrop, or were directly labeled "sybil addresses" by the project. Even more shocking is that the "big brother" with the most points, accumulating over 15 million points, ultimately received less than 15,000 TOWNS tokens, worth less than $600 at current prices. This is a case of "earning points like crazy, only to end up losing money on the airdrop."

The top ten addresses receiving the most airdrops received only 150,000 tokens, worth only around $6,000 USD. Does this seem reasonable? But remember, achieving such a high score almost certainly means the user has joined a large number of paid towns. If you factor in the costs, not only will they not make any money, they may not even get their money back.

In short, from top to ten, with millions to tens of millions of points, most of the airdrops received were minimal, with some even receiving nothing. This raises the question: Who were the TOWNS tokens actually distributed to? If the top users are just "runners-up," where are the true airdrop winners? To which addresses did the large amount of tokens flow?

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

According to feedback from IceFrog, a KOL for "LuMao," and several veteran LuMao users, of the 9.8% airdrop share officially announced by Towns to the community, approximately 3% went to community points users; Binance Holder users received approximately 3%; the Binance Alpha program is estimated to have taken up 1% to 2%; and the remainder was most likely allocated to activities held by other centralized exchanges, such as Bybit.

Although the official verbally emphasized that the airdrop values the community, in practice more tokens were allocated to exchanges and related activities.

The number of airdrops received by old users who insist on community building and daily sign-in is not as high as that of CEX users.

According to feedback from several community builders who were deeply involved in Towns, they spent months continuously producing content, inviting new people, and checking in daily in the towns they created, but ultimately received only less than 1,000 tokens in airdrop rewards, which is even less than the 1,359 tokens received by users who only met the Binance Alpha conditions and had never been exposed to Towns before .

This comparison not only neglects individual contributions but also exposes the airdrop mechanism's disregard for the value of "real users." Community members invested months in the project, contributing real user data, revenue, and marketing, yet ultimately received less airdrop shares than even CEX users who hadn't even heard of the project until yesterday.

A recent trend is that, in order to list on more centralized exchanges during the TGE, many project developers are treating genuine community users like "electronic beggars" while treating exchange users like "guests of honor." It's important to note that even if the latter receive a large airdrop, they often sell it immediately after the market opens. Community users who are willing to participate early and stay with the project for the long term are the fundamental reason for continued use of the protocol after the TGE and for continued revenue generation for the project.

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