Gas DAO Project Forms to Airdrop Tokens to Ethereum Users That Spent $1,559 in Fees – Altcoins Bitcoin News

The new airdrop was very popular in the quarter ending in 2021. Decentralized autonomous organizations have quickly gathered and distributed lots to existing users. Opendao just gave Opensea users a recent airdrop. Many people received thousands 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.

The Gas DAO Airdrops Tokens for Users Who Have Spent $1.559 In Ether Fees Prior to the Snapshot

Many projects have launched airdrops this year to help create governance systems. People who use these protocols at least once receive governance tokens. News recently reported that Shapeshift was becoming a DAO. The project also gave away FOX tokens. Our news desk also reported on the Ethereum Name Service, (ENS) airdrop that occurred when the project was transformed into a DAO during the first week in November.

Additionally, the Opendao Airdrop was discussed by crypto enthusiasts this week. Anyone who used Opensea prior to December 23rd received SOS tokens. Opendao tokens (SOS), have a current market value of $167 Million, while ENS currently has a market capization of $885 million. A new project is now called Gas DAOThis is the most recent airdrop DAO buzz. The project rewards any Web3 wallet users with GAS tokens, if they spend $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.

The Gas DAO Team was formed on December 29th. tweeted:

Over 143 million unique addresses have conducted transactions on the Ethereum network. Gas DAO is the voice of 643,000 active users, which makes it the heartbeat for the 143 Million. It aims to connect communities across defi and dapps as well as NFTs.

Crypto Advocates review the Gas DAO Code, and Airdrop Claiming Process

People are concerned about airdrops and how safe it is to use a Web3 wallet for connecting with an application. 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. Technoartoria, a Twitter user@artoriamaster() wrote about a reviewAdam Eisenman and the Gas DAO Contract (@0xdigitaloilAlso, he wrote “a summary about “how safe and how fair it is.”

Eisenman mentioned a few differences among the Gas DAO and SOS airdrops. “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:

This contract can be compared to SOS in terms of structure and spirit. The dev may end up with the largest amount token supply. Unexpected. IMHO this is not a step that reflects fairness, or incites a grassroots movement for 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 released a Twitter statement Wednesday to celebrate how fast things are moving. “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.”

In this story, tags
$1559 fees, Adam Eisenman, Airdrop, Airdrops, Claim Process, Crypto users, DAO, Decentralized Autonomous Organizations, ETH contracts, ETH fees, Ether costs, Ethereum, Ethereum, Ethereum, Gas, Gas DAO, Opensea, sos, Technoartoria, Wallets, and Web3 users

How do you feel about the Gas DAO and DAO airdrops? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman is an active participant in the cryptocurrency community from 2011. Since 2011, Redman has been an active member of the cryptocurrency community. Redman has contributed more than 5,000 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

Credits for the imageShutterstock. Pixabay. Wiki Commons. Gas DAO

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