Blockchain
Farmers with scroll plane launch can now track their points. But will this satisfy the skeptics? – DL News
- Scroll launched a dashboard where users can see their brands.
- Marks are points earned by users for activity on the blockchain.
- Deposits on Scroll have exceeded $25 million in the last 24 hours.
Airdrop farmers on Scroll can now check the total points earned in the blockchain network much maligned loyalty campaign program called Sessions.
It remains to be seen, however, whether the move will appease critics of the points programs that are increasingly popping up in the world of DeFi.
Scroll, an Ethereum layer 2 blockchain with $87 million in depots, on Wednesday launched a dashboard where users can view their Scroll Marks, the name the project chose for its points program.
Marks, like other previous blockchain points programs, represents an activity score assigned to a user’s wallet address as an assessment of the footprint of transactions on the blockchain.
Users who spent more than $5 per bridge three eligible tokens – Ether, Staking Ether, and Stone – on Scroll received retroactive points as long as they did so between October and April.
Swipe TVL increased 46% since the points program was announced
However, not all onchain activity within that cutoff period was rewarded with retroactive points reduction.
Scroll only considered users who spent more than $5 to connect three eligible assets to the blockchain: Ether, Staking Ether, and Stone.
Users can continue to earn loyalty points under the Sessions program, and Scroll says it will add more eligible assets.
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Scroll’s total value locked, a DeFi metric for investment volume in a protocol or blockchain, has increased 46% since Sessions was announced last month.
The volume of cryptocurrencies connected to Scroll has even exceeded 25 million dollars in the last 24 hours: a record for the blockchain, DefiLlama data Shows.
This is despite community criticism regarding the points program.
The critics of the points
Critics of the move, such as well-known pseudonymous airdrop grower CC2, had previously said that DeFi loyalty points programs have become stereotypedpointing to projects like Manta, Paradigm and Blast that used the same marketing ploy.
The backlash aimed at Scroll and others stems from doubts held by blockchain users who say project teams are using the points program to lure depositors into their chains to create a semblance of activity for their networks.
It is the depositors themselves who accumulate blockchain offers point programs In the hopes of securing valuable token flips in the future.
Such efforts, however, may not be as profitable as in the past, given how projects are adopting new rules for their air launches.
LayerZero in its recent airdrop announcement asked Sybil users to self-report or risk losing all assigned tokens. Sybil users are mercenary airdrop farmers who deploy a cluster of several thousand wallets to spur activity on target protocols or blockchains to secure a larger share of the airdrop.
In addition to designs adopting more aggressive anti-sybil protection, many recent air launches have done so failed to meet market expectations. This is because the majority of airdrop recipients chose to immediately sell their tokens, causing the token’s price to plummet.
Osato Avan-Nomayo is our DeFi correspondent based in Nigeria. He covers DeFi and technology. To share story tips or information, contact him at osato@dlnews.com.