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To Succeed At Airdrop Hunting, You Need To Have Money

By
Clinton Chidera
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0

Airdrop mode has changed, as the debut of (ICO) in the blockchain realm was clearly and succinctly demonstrated. Indirect research into the methodology used to apply the idea of an initial coin offering (ICO) in the creation of a blockchain business reveals that many participants earn six figures from airdrop participation with just a dollar. 

Many new testnet projects creating a significant network in the blockchain community immediately adopt this strategy in order to gain more funds while building. The introduction of ICO is the reason why some projects are able to stand. I can confirm the fact that such a strategy is excellent and that it enables new potential airdrops to use it to find active participants via testnet, betanent, and mainnet.

Hunting for airdrops is a good idea, especially for projects building their own network or based on Ethereum, Binance, Aptos, and Solana, Base, Zksync, and Arbitrum.

ICO definition
An initial coin offering (ICO) is an event where a company sells a new cryptocurrency to raise money. Investors receive cryptocurrency in exchange for their financial contributions. In many ways, an ICO is the cryptocurrency version of an initial public offering (IPO) in the stock market.

Is an airdrop an ICO?
Crypto airdrops and ICOs are different concepts, even though they both involve launching new cryptocurrency projects. Airdrops don’t require any investment from participants, but an ICO is a crowdfunding method. In an ICO, the project team conducts a token sale to raise funds from investors.

Airdrop is free by definition
Wow, indeed. An airdrop is a mechanism in which a cryptocurrency project indirectly advertises its product while rewarding the participant. Such an airdrop is free and requires no investment. An airdrop is an unsolicited distribution of a cryptocurrency token or coin, usually for free, to numerous wallet addresses.

Airdrop is free, and its goal is free, but please consider the educational learning involved in learning about its origin, aim, and teams. The introduction of ICO served as the foundation for new projects. Since we dedicated our time to understanding the protocol’s development, engaging in its test net, betanet, mainnet, including swapping, bridging, adding pool, providing liquidity, and also minting its NFT, we have an interest in and faith in our speculation to earn.

Users complete one or more online tasks to qualify for receiving the airdrop at a later date. Assets are automatically distributed to token-holders of a given asset, provided the wallet has a minimum balance on the relevant blockchain on which the airdrop takes place.

However, many of us continue to believe that a faucet has been added for usage during the participation process. There is a faucet in the testnet participation process, but can we use it to test and conduct transactions during the beta and mainnet phases? I hope the response is not. This is the reason some people didn’t initially receive an Arbirum airdrop.

What to believe before participating in an airdrop
The amount of money a project raises during funding impacts who will believe in and support it. We research a project’s funding source and its investors before engaging. This brought us into the spotlight and gave us access to the network’s introduction and engagement strategies.

Though speculation is the operative word, our faith truly led us to believe in the project through regular follow-up and product updates to community involvement. By gaining an understanding of the network’s nature and what is about to be released, we engage in involvement here.

Our time, consistent use of the testnet, betanet, and mainnet, and our capital to acquire more units and points through the mainnet swap, bridge, pools, and liquidity processes are how we invest to earn toward this process.

By focusing their efforts on the potential future of earning the potential airdrop, funding, and project investors strengthen and inspire hunters to trust in the project. “Good investments pay off over time.”

For example, the current ongoing airdrops from Zksync, Venom, Polygon, Zkvem, Aptos, Metamask, Altlayer, Smartlayer, Quai, Scroll, Base, Script Network, Zetachain, Tabi, Unstoppable, and Starknet raised a combined total of $450 million and $2 billion, respectively.
All of this is speculative, but the expectation is enormous, as some alpha educators constantly emphasize, with a $0 initial commitment and a $2000 anticipation.

This is significant, and I can attest that it is worthwhile for you to investigate the world of airdrop participation. This paragraph provides an overview of why, given the nature of the ICO introduction, we need funding to participate in the testnet. These are yet another factor for accumulating points for potential airdrops.

The nature of using money to participate in a project’s mainnet testing and generate points for a potential airdrop was introduced by the ICO.

Why would someone take part in an airdrop?
A large number of people will respond at this time by working hard to change their financial situations. Yes, but the major driver and goal of the project is to develop a sizable network within the Blockchain community and do the necessary testing for the financial sector. This testing is entirely instructional and designed to help students understand the network’s structure and operation (Curriculum => Scheme of Work). The researcher or hunter can learn and explore this approach as an open source.

Participating in an airdrop launching project has two goals: making money and learning about the history and operation of the project network. At this point, the tester may provide some expertise about how to grasp the blockchain network’s function. This method allows you to learn something new.

In summary

In order to be included in community updates, such as those that always take place in Discord, Twitter, and Telegram where the mod highlights current news before making it public in the media space, airdrop requires regular engagement and follow-up.

By using your digital money to test how successful, efficacious, and relevant the project is to the blockchain community and to the global market, you may gain more points and aim for bigger returns from those projects.

Tether Surpasses 100% Reserve Ratio

By
Paul Ugbede Godwin
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0

Tether, the largest stablecoin issuer in the world, has announced that it has surpassed the 100% reserve ratio, meaning that it has enough fiat currency and other assets to back up every USDT token in circulation. This is a major milestone for the company, which has faced scrutiny and criticism from regulators, investors, and the crypto community over its transparency and solvency. Tether USDT is one of the most popular and controversial stablecoins in the cryptocurrency market.

Tether USDT claims to be backed by US dollars at a 1:1 ratio, meaning that for every USDT in circulation, there is a corresponding US dollar in reserve. However, this claim has been challenged by many critics and regulators, who doubt the veracity and transparency of Tether’s reserves and audits.

Tether USDT was launched in 2014 by Tether Limited, a company based in Hong Kong and registered in the British Virgin Islands. Tether Limited is affiliated with Bitfinex, one of the largest and oldest crypto exchanges in the world. Tether USDT is issued on various blockchain platforms, such as Bitcoin (via Omni Layer), Ethereum, Tron, EOS, Algorand, Solana, and others.

Stablecoins are cryptocurrencies that are pegged to a fiat currency or a basket of assets, such as the US dollar or gold. They are designed to provide stability and liquidity in the volatile crypto market, as well as to enable cross-border payments and remittances. Tether is the most popular and widely used stablecoin, with a market capitalization of over $70 billion as of August 2023.

However, Tether has also been accused of manipulating the crypto market, inflating its supply without proper backing, and being involved in illicit activities. In February 2021, Tether and its sister company Bitfinex settled a lawsuit with the New York Attorney General’s office for $18.5 million, without admitting or denying any wrongdoing. The settlement required Tether to submit quarterly reports on its reserves and to stop serving customers in New York.

Since then, Tether has made efforts to improve its transparency and compliance, hiring independent auditors, publishing attestations, and diversifying its reserve assets. According to its latest report, as of June 30, 2023, Tether had $71.2 billion in total assets, of which 75.85% were cash and cash equivalents, 12.55% were secured loans, 9.96% were corporate bonds and precious metals, and 1.64% were other investments. The report also stated that Tether had $70.9 billion in liabilities, of which $70 billion were USDT tokens and $900 million were other payables.

This means that Tether had a reserve ratio of 100.42%, exceeding the 100% threshold for the first time since its inception in 2014. Tether’s CEO Paolo Ardoino said that this achievement was a result of the company’s commitment to transparency and accountability, as well as the growing demand and adoption of USDT in the crypto ecosystem.

We are proud to announce that we have surpassed the 100% reserve ratio, which is a testament to our resilience and reliability as the leading stablecoin issuer. We have always honored our promise to redeem every USDT token at par with the US dollar, and we will continue to do so. We thank our customers, partners, and regulators for their trust and support, Ardoino said in a press release.

According to Tether’s website, each USDT is backed by a reserve of traditional currency held in Tether’s bank accounts. Tether claims that its reserves are regularly audited by independent third parties, and that it publishes monthly reports on its website showing its assets and liabilities. Tether also states that it follows strict anti-money laundering (AML) and know-your-customer (KYC) policies, and that it complies with all relevant laws and regulations.

However, these claims have been met with skepticism and scrutiny by many observers, who question the validity and reliability of Tether’s backing and reporting. Some of the main issues raised by Tether’s critics are:

Lack of transparency: Tether has not provided a full audit of its reserves by a reputable accounting firm, nor has it disclosed the identity and location of its banking partners. The monthly reports published by Tether are not verified by any external auditor, and only show aggregate numbers without any breakdown or detail. Moreover, Tether has changed its reserve policy several times over the years, from claiming to hold 100% USD reserves, to admitting to holding other assets such as loans and securities, to stating that its reserves include “cash equivalents” and “other receivables”.

Legal troubles: Tether has faced multiple lawsuits and investigations from various authorities around the world, including the US Department of Justice (DOJ), the New York Attorney General (NYAG), the Commodity Futures Trading Commission (CFTC), and others. Some of these cases are still ongoing or unresolved, while others have resulted in settlements or fines for Tether. For example, in February 2021, Tether agreed to pay $18.5 million to settle a case with the NYAG, which accused Tether of misleading investors and customers about its reserves and liquidity. As part of the settlement, Tether also agreed to provide quarterly reports on its reserves to the NYAG for two years.

Market manipulation: Tether has been accused of inflating the supply and demand of USDT to manipulate the price of Bitcoin and other cryptocurrencies. Some studies have suggested that there is a positive correlation between USDT issuance and Bitcoin price movements, implying that Tether prints new USDT tokens without sufficient backing and uses them to buy Bitcoin on exchanges, creating artificial demand and driving up the price. Some critics have also alleged that Tether is involved in wash trading, spoofing, pump-and-dump schemes, and other fraudulent activities to manipulate the crypto market.

Tether’s announcement was met with mixed reactions from the crypto community. Some praised Tether for achieving this milestone and proving its critics wrong, while others remained skeptical and questioned the validity and quality of its reserve assets. Some also pointed out that Tether still faced legal challenges and regulatory uncertainties in other jurisdictions, such as Europe and Asia. Regardless of the opinions, Tether’s surpassing of the 100% reserve ratio is a significant event for the stablecoin industry and the crypto market as a whole. It shows that stablecoins can be viable and trustworthy alternatives to fiat currencies, as well as catalysts for innovation and inclusion in the digital economy.

Trump is Monetizing His Mugshot to Fund His Campaign and Legal Defense

By
Samuel Nwite
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0

Former U.S. President Donald J. Trump and his associates are endeavoring to maximize the use of his mugshot, captured in Georgia on Thursday night after his indictment on racketeering charges, to generate funds for his campaign and his legal trials.

Trump, who has been indicted four times since March, makes history as the first U.S. president whose mugshot has been taken – a development he admitted not to have enjoyed.

“It is not a comfortable feeling — especially when you’ve done nothing wrong,” he told Fox News’s website in an interview.

The mugshot generated a media frenzy as it marks the first face of a U.S. president being booked for a criminal offense. 

A mugshot is a photographic depiction of an individual’s upper body, usually captured following their arrest. The primary intent behind capturing mug shots was to provide law enforcement with photographic documentation of the arrested person, aiding in their identification by victims, the general public, and investigators.

However, Trump and his campaign organization have shared the mugshot on the internet – hoping to cash in on the frenzy that it is generating. It was prominently featured on Trump’s campaign website, under a “personal message from President Donald J. Trump.” At the page’s bottom, there were multiple clickable tabs enabling users to contribute to his campaign through small-dollar donations

Furthermore, Trump promptly shared the image on X, marking his return to the platform formerly known as Twitter, where he hasn’t been banned for two years. The former president was permanently suspended by the company’s former ownership in the aftermath of the January 6, 2021 attack on the Capitol by a pro-Trump mob.

The mugshot on X has so far garnered more than 200 million views. 

Trump has consistently embraced chances to extract financial gain from the events and developments in his life and career. Now backed by a throng of supporters, he is pushing the mugshot to generate money for his campaign and legal battles.

Having raised several millions of dollars after his March indictment in New York, where he faced charges linked to hush-money payments to a porn actress, Trump is in need of replenishing his defense fund. This is particularly crucial as additional charges have been levied against him in the interim. For example, in June, the Justice Department’s special counsel, Jack Smith, filed charges against Trump for mishandling national security documents.

The joint fundraising platform managed by his campaign swiftly began providing mugs, beverage coolers, and T-shirts of various colors and sizes, all featuring his mug shot along with the phrase, “Never Surrender!” Although he surrendered to the authorities in Georgia, he has been using the phrase believed to indicate defiance. 

Donald Trump Jr., the eldest son of Trump, shared a link on X leading to his personal website showcasing merchandise featuring the photo. He mentioned that the proceeds from the sales would be contributed to a legal defense fund established by his father’s advisors, vowing not to profit from it. 

Following the release of the mugshot, sales of Trump’s NFT trading cards experienced a dramatic surge. Data from Cryptoslam.io indicates an astonishing 426% increase in his digital card sales within a mere 24-hour period.

The New York Times reported that by Friday afternoon, the Trump campaign had dispatched an email campaign containing the photo along with Trump’s booking number.

The report further noted that even before the capture of the mug shot at the Atlanta jail, an email dispatched from his collaborative fundraising committee set the stage for his supporters by conveying the following message: “It’s been reported that if I am unjustly indicted and arrested in the Atlanta Witch Hunt, a mug shot will be taken of me.”

Demonstrating how politically valuable the mug shot is to the Trump campaign’s fundraising efforts, one of Trump’s prominent advisors, Chris LaCivita, issued a cautionary statement on social media. He accompanied his message with 11 siren emojis, issuing a stern warning to any political entities that could potentially seek to profit from the photo by implying a connection to the Trump campaign.

Campaign officials have not made the fund-raising figures public, but it’s clear – like in other cases – that Trump will rake in millions of dollars in legal defense and campaign funds through the mugshot.

Bitcoin could be worth less than $20K in 2023 – US Inflation Data

By
Paul Ugbede Godwin
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0

The recent surge in US inflation has raised concerns about the future value of Bitcoin, the leading cryptocurrency. According to the latest data from the Bureau of Labor Statistics, the US consumer price index (CPI) rose 6.8% in November from a year ago, the highest annual increase since 1982. The CPI measures the changes in the prices of a basket of goods and services that are typically purchased by consumers.

Bitcoin, which is often touted as a hedge against inflation, has not performed well in the face of rising prices. The digital currency has lost more than 30% of its value since reaching an all-time high of nearly $69K in November 2021. As of December 15, Bitcoin was trading at around $47K, according to CoinMarketCap.

One of the main reasons why Bitcoin is struggling to keep up with inflation is the lack of adoption by mainstream investors and institutions. Despite the growing interest and awareness of cryptocurrencies, Bitcoin still faces significant barriers to entry, such as regulatory uncertainty, security risks, volatility and scalability issues. Moreover, Bitcoin’s limited supply of 21 million coins may not be enough to meet the growing demand for alternative assets in an inflationary environment.

According to a recent report by Bloomberg Intelligence, Bitcoin could be worth less than $20K in 2023 if the current trend of high inflation and low adoption continues. The report argues that Bitcoin’s value is mainly driven by speculation and sentiment, rather than fundamentals and utility. Therefore, Bitcoin could face a prolonged bear market if investors lose confidence and interest in the cryptocurrency.

However, not everyone is pessimistic about Bitcoin’s prospects. Some analysts believe that Bitcoin could benefit from the inflationary pressures in the long term, as more people seek to preserve their purchasing power and diversify their portfolios. For instance, Michael Saylor, the CEO of MicroStrategy, a business intelligence firm that holds over 120K bitcoins, said that Bitcoin is “the ultimate inflation hedge” and that he expects it to reach $1 million per coin in the future.

Ultimately, the value of Bitcoin depends on a number of factors, such as supply and demand, innovation, regulation and competition. While US inflation data may have a negative impact on Bitcoin’s price in the short term, it may also create new opportunities and challenges for the cryptocurrency industry in the long term.

Another factor that could influence Bitcoin’s value is how it compares to other cryptocurrencies. Bitcoin is the oldest and most dominant cryptocurrency in terms of market capitalization and network effects. However, it also faces competition from newer and more innovative projects that offer different features and advantages. For example, Ethereum is a platform that enables smart contracts and decentralized applications, while Cardano is a blockchain that aims to provide scalability and sustainability. Other cryptocurrencies, such as Litecoin, Ripple and Dogecoin, have different use cases and target audiences.

The performance and popularity of these alternative cryptocurrencies could affect Bitcoin’s market share and price. If some of them manage to surpass Bitcoin in terms of adoption, innovation or regulation, they could pose a serious threat to Bitcoin’s dominance and value. On the other hand, if Bitcoin manages to maintain its leadership and improve its technology and usability, it could benefit from the growth and development of the entire cryptocurrency industry.

Right Now, Another Decision is Coming: Trump vs Biden for US Presidency

By
Ndubuisi Ekekwe
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1

Obama invented one special thing during his presidency: allowing affordable homes in rich American neighbourhoods. To appreciate that policy, you need to understand that where you live determines the public school you attend, and that public school is largely funded from real estate tax in that community. So, naturally, affluent communities have better schools because they generate more tax money, to hire the best teachers and spend on school supplies.

That is the separation which comes after birth: if you are born in poor communities, your schools are likely going to be underperforming. Obama changed that by allowing apartments and all manners of affordable homes to be built in rich suburbs and communities. With that, a poor kid whose parents live on minimum wage, can live in the same zip code with millionaires, and those kids can attend the same school with millionaires’ kids (sure, most rich Americans send their kids to private schools). You get the idea nonetheless!

Trump liked that idea, but in the middle of his presidency, he flipped. Politico wrote,  “Trump is going to war on low-income housing in suburbs. He once embraced it.” The issue was alleged that “poor” families were making the suburbs “untidy”, “unsafe”, and President Trump wanted to save the “suburb women of America” from this paralysis. Politico again: “President Donald Trump is on a mission to save the suburbs, warning Americans that Joe Biden would bring chaos to their communities by promoting affordable housing.”

On that, and the issue of affirmative action, I decided to vote for Biden to preserve that ordinance (suburban women voted for Biden as  many Americans pushed for more opportunities for all). Ifeoma, my wife, did ask for voting Biden to be the best birthday gift from me, as I was ambivalent since irrespective who the president is, the institutions of America, will keep it going.

But right now, another decision is coming: Trump vs Biden for US Presidency. What should we look for as the campaign reason ramps up? 

Comment on Feed

Comment 1: Biden has been tested likewise Trump.

There’s no more blind choice here, during Trump the world knows peace and prosperity while during Biden the world is at war and in much disarray.

Children and our kids are endangered species, they are under attack and their innocence is being stolen from them.

For me I think the world needs healing and reformatting and Trump might be that button to commence the process.

Comment 2: Hi Prof. How did you vote in the last election in Nigeria? What was the main issue that swayed how you voted?

My Response: I did not vote because I was not registerred to vote. But largely, if I had been given the opportunity, any person that would enshrine a MERIT-based system in admission, employment, etc (I think is the #1 issue in Nigeria) gets it. Among the contenders, I would have voted Obi.

In 1999, I liked Obasanjo (a bridge to 2 worlds) . In 2007, I was for Yar’Adua (humility with empathy to Niger Delta during his campaign. He later won and voted for the largest budget in the history of ND which even GEJ reduced when he died). In 2011, I was for GEJ (I wanted him to continue the Yar’Adua policy which was superb, Nigeria had the highest GDP per capita on record). In 2015, I was for GEJ (I felt that Buhari did not have the intellectual capacity to run Nigeria). In 2019, I was for Atiku (anything but Buhari).

Comment 3: You made a brilliant point sir. But I think that is too little to make a choice of who is to be the president of the USA.

You are a very learned person because I follow you on both LinkedIn and Facebook.

I strongly disagree on this!

President Obama did brilliantly well in that policy but you and I know such policy did not and can not give automatic place to the poor in the suburbs. I believe even with that it is still going to be by merit.

Even with the policy I believe not all poor people can afford it except those who work themselves up.

I read most of your write up whenever I come across them.

I want to ask you a question,imagine Tinubu makes such policies for Nigeria willl he be your choice over Obi?

Allow the poor to access rich suburbs over economy policies? Over foreign policies ? For example, Trump have been saying if he was in office Ukraine war would not have started. He also said if in office he will end it in a short while.

We believe him because in his 4years in office no war. Obama’s govt Russia annexed kremia, Biden Russia at war with Ukraine again, also with Libya saga, leaving Afghanistan in an unprofessional way etc.

Both have ruled for 4years compare their foreign policies and the economy.

My Response: “I want to ask you a question,imagine Tinubu makes such policies for Nigeria willl he be your choice over Obi? ” Not relevant from my angle because that policy is not the most pressing factor in Nigeria. What is #1 issue for me in Nigeria is MERIT (i.e. who can enhrine a merit-based system in the nation on unemployment, admission, etc). If a lizard makes it, I will vote him/her/it over any human.

Comment 3R: Great! I believe your merit is going to be based primarily on economy, security and foreign policy beside others. If you use same parameters for USA you will discover Biden does not have a chance. I think this is very obvious sir.

My Response: As I noted, I am ambivalent to who runs America because they have institutions which cannot be broken by anyone. The Merit in my response is not who merits it, but who can reform Nigeria to be run on merits so that people can give their best at all times. The yardstick to determine who runs America is different for me for who runs Nigeria. Nigeria does not have a merit-based system, and until you fix that, nothing will work.

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