Crypto is an over rewarding medium of exchange
I've been transacting with fiat since forever and have never gotten a surprise reward, all I've gotten is surprise taxes.
With crypto, there's a huge difference. This is something that many may not place much relevance on but I've come to see it as a culture for building integrity into crypto businesses.
What am I even talking about?
One word: Airdrops, or is that two?
Around here, I'm sure it's one word and based on a Coingecko study, this word for 4 years now, has over $26.6 billion to its name.
Uniswap (UNI) emerged as the frontrunner, making history with an astounding $6.43 billion airdrop in September 2020.
According to an analysis from CoinGecko, the period from 2020 to 2023 has witnessed a surge in crypto airdrops.
Led by giants like Uniswap, Apecoin, and dYdX, the top 50 airdrops have distributed $26.6 billion in tokens in that period.
Oh, that is just the top 50 being accounted for, nice!
Free Money They Say, But I Call It Incentives For Involvement
It isn't free money because the people that got it didn't just wake up and get it without having been involved in one thing or the other.
The rewards followed the use of a product or service, hence, it was an incentive to people that commited time and monetary value to a project or network.
Of course, these people generally didn't do that because of the chances of getting rewards like this, even though right now it's rather a common practice.
They, then, were simply being involved in one ecosystem and the other.
Coming To Commerce
What would the future look like?
I believe airdrops are here to stay because aside from the obvious buzz it creates for new projects, it serves two major roles at the blockchain level.
First, it's a medium to fairly distribute tokens and avoid a centralized token economy.
And secondly, it's an incentivization layer, which is the basics of crypto - incentives fosters integrity.
Crypto gaining mass adoption unlocks several advantages to businesses, customers, and blockchain networks.
Starting with blockchains, with a far wider audience being actively involved in key spaces performing several transactions on-chain, an airdrop would have an astounding spread, enhancing decentralization in the process and reducing centralized price manipulation.
For customers, imagine waking up to new tokens in your wallets occasionally for simply doing what you regularly do - pay for stuff.
Instead of waking up to insane taxes, you're waking up to a couple Ks of dollars or even millions in tokens, depending on your transaction volume and the airdrop criteria. Considering that we are talking about commerce and all that, individual transactions could always sum up to a lot.
For businesses, given that customers are kept happy in the process of spending on a company and earning back via airdrops, businesses would thrive as the system dynamically rewards its consumer base for it.
A win win win.
We are building towards an era where involvement begets incentives, no more giving to the undeserving but to those actively contributing to the growth of the community or network.
Crypto with blockchain technology will do a better job empowering people than any system ever has, with time.
Posted Using InLeo Alpha