# Airdrops的所有文章

在 HTX 新闻中心浏览与「Airdrops」相关的最新资讯与深度分析。潘盖市场趋势、项目动态、技术进展及监管政策，提供权威的加密行业洞察。

Ansem: Why I Believe Token Buybacks Don't Solve Anything?

Crypto trader Ansem argues that token buybacks alone do not create value. Instead, a project's valuation multiple is driven by "trust premium" built between the team and its community. He compares two high-revenue Solana protocols: Hyperliquid (estimated $800M annualized revenue, ~$650B FDV) and pump.fun (estimated $440M annualized revenue, ~$14B FDV). Both aggressively use most protocol revenue for buybacks, yet their valuation multiples differ by nearly 50x. Ansem attributes Hyperliquid's high valuation to the trust earned by its founder Jeff and team through consistent execution, transparent community rewards, and a dedicated user base. In contrast, he criticizes pump.fun for failing to fulfill a promised airdrop of 24% of its token supply for over a year since its July 2025 ICO, despite generating over $1B in revenue and raising $1B in the ICO. He suggests that honoring its commitments could significantly boost its token price and platform metrics. The core thesis is that trust, not just financial mechanics, is the key driver of crypto asset valuations.

marsbit07/17 04:40

Ansem: Why I Believe Token Buybacks Don't Solve Anything?

marsbit07/17 04:40

After Collaborating with 35+ DeFi Projects, Pink Brains Discovers the New 2026 KOL Marketing Rules

After collaborating with over 35 leading DeFi projects on marketing over three years, Pink Brains identifies a key shift for effective marketing in 2026: prioritizing the user journey over traditional campaign tactics. The most effective marketing mirrors how users actually behave—starting with discovery on social platforms like X (formerly Twitter), followed by data-driven verification on sites like DefiLlama, and finally, participation with small test funds. Success hinges on genuine, verifiable mechanisms, not just marketing hype. Current user interest centers on several key themes: new DeFi trends (RWA, perps, crypto x AI), meaningful airdrops requiring real contributions, real yield from protocol revenue, and tokens with value capture mechanisms directly tied to product usage. Case studies like Hyperliquid's HYPE (with its aggressive buyback program) and Venice's VVV (linking demand to AI compute) exemplify how strong tokenomics foster user retention. New trading venues like prediction markets, collectibles platforms, and GambleFi are also gaining traction, driven by verifiable activity. The article outlines common mistakes in DeFi KOL marketing, such as using creators unfamiliar with the product, generic messaging, or relying on a few top-tier KOLs. Instead, effective strategies align with different KOL types—educators, content creators, airdrop hunters, and niche experts—for various stages of the user journey. Ultimately, long-term user retention depends on a combination of a genuinely useful product, responsive support, community-aligned tokenomics, and strategic community building. The core takeaway is that sustainable growth stems from products whose value is validated by data and real-world utility, not just promotional efforts.

marsbit06/03 10:23

After Collaborating with 35+ DeFi Projects, Pink Brains Discovers the New 2026 KOL Marketing Rules

marsbit06/03 10:23

Crypto Traders In South Korea Face 22% Tax Starting January 2027

South Korea's five largest crypto exchanges are collaborating with the National Tax Service to implement a new 22% tax on cryptocurrency trading profits, effective January 2027. The Ministry of Economy and Finance confirmed the policy will proceed as scheduled, applying to annual profits exceeding 2.5 million won (approximately $1,800). Gains beyond this threshold will face a 20% national tax plus a 2% local income tax. The tax covers profits from transfers and lending, classified as "other income," and is estimated to affect about 13.26 million investors. Authorities are addressing concerns over tracking overseas transactions, referencing international reporting frameworks like CARF, and denying claims of double taxation with existing VAT. Separate guidelines for newer income types such as staking rewards and airdrops are still pending. The move underscores crypto's deep integration into South Korea's financial landscape, with a firm deadline now set for the long-debated tax.

bitcoinist05/09 11:02

Crypto Traders In South Korea Face 22% Tax Starting January 2027

bitcoinist05/09 11:02

Airdrops Rewarded 'Farmers' but Killed the Real Community

Token airdrops, intended to build communities, have instead become mechanisms that train users to extract maximum value and exit quickly. This outcome stems from design flaws in the 2021–2024 token distribution model: low float, high fully diluted valuations, points programs that reward activity over intent, and eligibility rules easily reverse-engineered by those with time and scripting skills. As a result, rational behavior shifted to mass wallet creation, simulated engagement, and immediate selling. Points programs exacerbate this issue, turning participation into a resource-intensive competition that marginalizes genuine users. Teams are aware of wallet clustering and disproportionate token accumulation but continue the model for short-term growth. Consequently, airdrops lose credibility, with significant supply reserved for immediate sell-offs at launch. In response, token sales and ICOs are returning—not out of nostalgia but as a structural correction. New distribution methods incorporate screening mechanisms like identity and reputation signals, on-chain behavior analysis, jurisdictional limits, and allocation caps. These aim to distribute tokens to long-term users rather than mercenaries. This shift highlights a tension between permissionless ideals and practical needs for access control. Privacy-preserving identity systems are becoming essential infrastructure to verify user attributes without exposing identities, avoiding a binary choice between open but exploitable systems and restrictive ones. Wallet limitations—fragmentation, weak recovery, blind signing, and browser-based vulnerabilities—also contribute to these challenges. Forward-thinking teams are integrating identity, wallet, and token distribution into a cohesive system where users can prove uniqueness without revealing identity and maintain control without fragile private keys. The goal is not exclusivity but better alignment: fewer committed participants are more valuable than many indifferent ones. Projects aligned with human values show better retention, governance engagement, and market resilience. Successful teams will treat token distribution as infrastructure, design for adversarial environments, use identity protectively, and embrace well-designed friction. The failure of airdrops lies not in user greed but in rewarding it. To grow beyond its current audience, crypto must stop training people to extract value and instead give them reasons to belong.

marsbit03/25 08:24

Airdrops Rewarded 'Farmers' but Killed the Real Community

marsbit03/25 08:24

Most Crypto Assets Confirmed As Non-Securities By SEC And CFTC In New Guidance

In a significant regulatory development, the US SEC and CFTC have issued joint guidance clarifying that the majority of crypto assets are not securities. This long-awaited move aims to end over a decade of uncertainty by providing a clear framework for digital tokens under federal securities laws. The guidance establishes a detailed taxonomy, categorizing assets as digital commodities, collectibles, tools, stablecoins, or securities. It explains how token classification can change over time and addresses the application of securities rules to activities like airdrops, staking, and mining. Both agencies encourage market participants to review the interpretation to understand regulatory jurisdiction.

bitcoinist03/17 23:01

Most Crypto Assets Confirmed As Non-Securities By SEC And CFTC In New Guidance

bitcoinist03/17 23:01

SEC says most crypto assets are not securities in new regulatory framework

The U.S. SEC, in coordination with the CFTC, issued new guidance on March 17, 2026, clarifying that most crypto assets are not securities. The framework introduces a taxonomy classifying digital assets into five categories: digital commodities, collectibles, tools, stablecoins, and digital securities. It emphasizes that a crypto asset itself may not be a security, even if involved in an investment contract, and that its regulatory status can change over time. The guidance also addresses staking, airdrops, mining, and asset wrapping, reducing uncertainty for market participants. This move signals improved regulatory alignment between the SEC and CFTC, providing clearer rules for builders, issuers, and investors.

ambcrypto03/17 22:02

SEC says most crypto assets are not securities in new regulatory framework

ambcrypto03/17 22:02

The Playground of Whales: Why Retail Investors Are Fleeing DeFi

The article "Whales' Playground: Why Retail Investors Are Fleeing DeFi" argues that the era of decentralized finance as a tool for financial democratization has ended. Despite lower transaction costs due to Layer 2 solutions and reduced Ethereum gas fees, retail participation is declining. Key reasons include: - **Low Gas Trap**: Cheap transactions have turned DeFi into a high-effort, low-reward "digital factory," where users perform repetitive tasks for minimal airdrop rewards. - **Unpredictable Rules**: Projects frequently change terms retroactively (e.g., altering tokenomics, adding lock-ups, or labeling users as "sybils"), violating the "code is law" principle and eroding trust. - **Lock-up Traps**: High APY incentives often lock users’ funds long-term, while whales and insiders exit early, leaving retail investors exposed to token devaluation. - **Risk-Reward Mismatch**: Low returns (5-10%) come with high risks like smart contract exploits, phishing, depegging, and rug pulls, making DeFi less attractive than holding core assets like Bitcoin. The conclusion urges retail investors to protect capital, avoid futile interactions, and seek better opportunities elsewhere, as DeFi has become a playground dominated by whales and manipulative projects.

marsbit01/27 03:37

The Playground of Whales: Why Retail Investors Are Fleeing DeFi

marsbit01/27 03:37

Kansas Bill Aims to Establish Bitcoin and Digital Asset Reserve Fund

Kansas legislators have introduced Senate Bill 352, proposing the creation of a Bitcoin and Digital Asset Reserve Fund. The bill, filed by State Senator Craig Bowser, amends unclaimed property laws to classify digital assets like Bitcoin as abandoned after three years of inactivity. Custodians such as exchanges must transfer these assets to the state. The state treasurer would manage the fund by staking assets, earning airdrops and interest, with non-Bitcoin assets partially funding state operations while Bitcoin is held in reserve. The bill has been referred to committee, reflecting growing U.S. interest in regulating and integrating cryptocurrencies into government financial strategies.

TheNewsCrypto01/23 15:14

Kansas Bill Aims to Establish Bitcoin and Digital Asset Reserve Fund

TheNewsCrypto01/23 15:14

2025 Investment Survey: Nearly 60% of Respondents Report Overall Profits, Over 60% Are Seasoned Veterans

2025 Crypto Investment Survey: Over 60% of Participants Report Profits, Majority Are Experienced Traders Despite a relatively quiet Christmas period with BTC oscillating between $85K-$90K and ETH losing momentum, a year-end investment survey by Odaily reveals that 57% of respondents achieved profits in 2025. Among them, 17.2% saw significant gains (over +50%), while 39.7% reported modest profits. About 27% faced losses, contrasting with common pessimistic sentiment. Notably, over 60% of participants have been in crypto for more than three years, indicating a market dominated by experienced "veterans." Meme coins remained the top profit driver (34%), followed by major cryptocurrencies like BTC and ETH (26%), DeFi (16%), and airdrop farming (12%). Conversely, meme coins and altcoins were also the leading cause of losses (28%), alongside contract trading (26%) and setbacks in NFT/GameFi/L2 investments (22%). Key reasons for losses included failure to cut losses promptly, slow reactions, and over-reliance on market rumors. Only 8.6% attributed losses to frequent trading. Looking ahead, respondents are optimistic about RWA (31%), AI (25%), and meme coins (24%) in 2026. Prediction markets also show growth potential, with nearly 60% of users already engaged. Investment advice emphasized dollar-cost averaging, focusing on BTC, and taking profits timely. The article also highlights missed opportunities in 2025, including Trump-themed meme coins, Circle’s IPO, and unexpected airdrops like Plasma (XPL) and ASTER. Despite market volatility, the year offered numerous wealth-building moments, underscoring the dynamic yet challenging nature of crypto investing.

marsbit12/26 05:40

2025 Investment Survey: Nearly 60% of Respondents Report Overall Profits, Over 60% Are Seasoned Veterans