Abstract
AbstractAirdrops are a mechanism by which blockchain-based projects distribute digital tokens to users at zero cost. Billions of dollars of tokens have been airdropped for reasons such as marketing and decentralisation. The distribution criteria that projects have designed (e.g. previous user activity on the platform) have become more complex as different types of users adapt to receive a larger airdrop. This paper argues that coevolutionary theory can help us to understand the unique phenomenon of airdrop design, where participants (projects and users) strategically adapt over time and across different blockchain ecosystems. Nine airdrop case studies show an expanding set of innovative airdrop strategies (e.g. airdrops requiring additional activities to claim). The evolutionary analysis also implies changes in airdrop design (e.g. multi-round airdrops to facilitate learning) and further strategic innovation. Ultimately, this paper offers a new platform to apply the tools of evolutionary economics, exploring a unique process of innovation and evolution.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
