A new type of airdrop has been very popular during the last quarter of 2021 as quickly assembled decentralized autonomous organizations (DAOs) have been distributing lots of value to existing crypto users. Just recently, Opendao gave Opensea users an airdrop and many people accrued thousands of dollars in SOS tokens. Now, another project called Gas DAO is airdropping tokens to any wallet that’s paid more than $1,559 in ether gas fees before December 26.
Gas DAO Airdrops Tokens to Users That Spent $1,559 in Ether Fees Before the Snapshot
A lot of projects this year have created airdrops as a way to create a governance system, and people who have used these protocols at least once are usually rewarded with these airdropped governance tokens. In recent times, Bitcoin.com News reported on Shapeshift dissolving into a DAO, and the project airdropped FOX tokens to Shapeshift users. During the first week of November, our newsdesk also covered the Ethereum Name Service (ENS) airdrop when the project transitioned into a DAO.
Furthermore, this past week, crypto advocates have been discussing the Opendao airdrop as anyone who used Opensea before December 23 was rewarded with SOS tokens. Opendao (SOS) tokens have a market valuation of $167 million today and ENS has a market capitalization of around $885 million. Now a project called Gas DAO is the latest airdrop DAO buzz as the project is rewarding any Web3 wallet user with GAS tokens if they spent $1,559 in ethereum fees before December 26. If the user has not spent $1,559 in ether fees then the application will tell the person they are “ineligible” for the GAS token claim.
On December 29, the Gas DAO team tweeted:
There are over 143 Million unique addresses that have made a transaction on the Ethereum network. Gas DAO was created to be the voice and the heartbeat of the most active 643,000 users within that 143 million, to bridge together communities spanning across defi, dapps, and NFTs.
Crypto Advocates Review the Gas DAO Code and Airdrop Claim Process
Of course, many people have grown concerned about these airdrops and the safety of connecting with the application via a Web3 wallet. The application gains access to a view of the claimant’s address and the transactions processed in order to verify the $1,559 spent in ether fees. Twitter user Technoartoria (@artoriamaster) wrote a review of the Gas DAO contract and Adam Eisenman (@0xdigitaloil) also wrote a summary about “how safe and how fair it is.”
Eisenman highlighted a few differences between the Gas DAO airdrop and the SOS airdrop. “It’s worth noting that there is a sweep function that allows for the contract owner (dev) to claim all unclaimed tokens after the claim period has ended (May 1, 2022),” Eisenman wrote. “This implies a potential for the dev to end up with the majority of the token supply. Huge red flag.” Eisenman’s summary continued:
Structurally and spiritually, this contract is very different from SOS because the dev can end up with the majority of token supply. Unexpected. IMHO, definitely not a move that reflects fairness or inspires a grassroots movement to build upon GAS.
At the time of writing, the Gas DAO’s official Twitter page has 22.5K followers as well as tens of thousands of token holders so far. Gas DAO celebrated how quickly things were moving via a statement on Twitter on Wednesday. “To think that it’s only been 12 hours and we already have 20K followers and 26K holders,” the Gas DAO team said. “We couldn’t have asked for a better start to our journey of becoming the largest and most powerful community on Ethereum. We’re just getting started here.”
According to Technoartoria’s review, the “merkle tree claim cannot be manipulated” and the Gas DAO is “100% safe to claim and trade.” Besides the criticisms, Eisenman’s summary also asserts that the claim process is safe. “Now, to get to the part you’ve all been waiting for. Is it safe to claim?” Eisenman’s tweetstorm concludes. “Yes, claim function is straightforward… [It] just verifies merkle proof (to ensure you are entitled to the amount you are trying to claim); and then transfers the tokens to your address.”
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What do you think about the Gas DAO airdrop and the recent DAO airdrop craze? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Gas DAO
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