Grass Confirms Airdrop Rewarding 2M+ Beta Users: Here's What We Know
It was almost a certainty, but Solana users were nonetheless relieved to hear that Grass has officially confirmed an upcoming airdrop.
Running since the 13th of July, Grass' seventh epoch has come to an end. Celebrating the success of its closed beta, the milestone marks the end of a growth period that began with a closed alpha program in June 2023.
Grass announced that an airdrop was indeed on the horizon, with a usage snapshot of contributors “being taken”.
Aiming to decentralize data collection and management used for AI training, Grass enables contributors to repurpose their unused device bandwidth. This way, anyone can be involved in the growth and development of AI, while potentially earning rewards.
What can we expect from a Grass airdrop?
Here’s What We Know
Boasting over 2 million active users across the world, Grass is expected to be one of the most widespread airdrops across the Solana ecosystem.
Little in terms of specifics is known about the upcoming airdrop. Grass has indicated that network participation will be used as a baseline for rewards, with allocations being weighted by epochs. This suggests that long-term contributors may enjoy multipliers on their allocation.
Grass has hinted that the platform’s native NFT collection, GigaBuds, may also be eligible for an allocation. While nothing has been confirmed, the protocol assured GigaBud holders that “your time is coming”.
In anticipation of a boosted allocation, the floor price of the GigaBuds NFT collection has increased by 47%, surging from lows of 0.78 to exchange hands at 1.15 at press time based on Tensor data.
While many airdrops require some kind of capital or time investment, interacting with Grass’s platform doesn’t require anything more than creating an account and providing your unused network bandwidth.
This makes the airdrop more accessible to potential users and helps attract large amounts of users. However, lowering the barrier to entry can be something of a double-edged sword. With over 2M active accounts, the Grass airdrop risks being heavily diluted and some accounts may be disappointed by their final token allocation.
Who Planted Seeds?
Offering a unique approach to the crowded crypto X AI intersection, Grass attracted plenty of interest from investors in 2023.
After raising $1M in a pre-seed round led by No Limit Holdings, Grass conducted its seed round in late 2023. Raising an additional $3.5M, the round was led by Polychain Capital and Tribe Capital. Additionally, Grass found support from other notable investors, including Mozaik Ventures and Big Brain Holdings.
What’s Next for Grass?
With the hotly-anticipated airdrop rapidly approaching, Grass has rolled out a final campaign to attract last-minute users.
Announcing a limited-time bonus epoch, Grass is actively encouraging users to download and run the desktop version of the platform. Arguing that the desktop app is more efficient, Grass contends that the app handles 10x more bandwidth than the Chrome extension while using less than 5% of the resources.
Following the airdrop, the Grass team has indicated that they will turn their focus away from building the protocol’s core infrastructure and pivot to supporting the development of meaningful applications that align with user interest.
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