Airdrop is an efficient marketing tool that often gets neglected by crypto startups mainly due to the fact that it costs a lot of gas, which is a fraction of an Ethereum token. To be more precise, the cost of a single transaction in the Ethereum network has a price range of $0.01-$0.1. Therefore, it becomes evident that the expenses on an airdrop campaign usually amounts to thousands of dollars.
But as they say, when there is a problem, there is always a solution. Such a solution may come in the form of Coinstantine, the Dutch fintech startup that has developed a way to make the large-scale dispensations of ERC-20 tokens incomparably more cost-efficient.
Maleficent activities, or scams, in simpler terms, constitute another burning problem that Coinstantine plans to tackle head-on. It seems that every more or less knowledgeable crypto enthusiast is aware of how scammers beguile people into revealing the private key which ultimately leads to the vaporization of entire crypto portfolios of the unsuspecting airdrop hunters.
The solution to the issue of airdrop expensiveness turned out to be magnificently simple: to shift the transaction cost on to the shoulders of the receiving party and let Coinstantine play the role of an intermediary. The idea behind the cost cuts to the air droppers is the following. The distributor of the ERC-20 tokens, intended for the airdrop, makes a single transfer of the entire batch of tokens to the predesignated smart contract in the Coinstantine network, thus paying the transaction fee only once.
From then on, the potential receiver of the airdropped tokens must withdraw them from the smart contract at his own accord and after receiving approval from the token issuer. To receive the corresponding amount of tokens, the recipient would have to cover the transaction fee, which is negligent in most cases.
Regardless of the number of wallets that are due to receive the air dropped tokens, the issuing party will pay only a fixed fee. The participants in the airdrops will also benefit from becoming a part of the Coinstantine network. For instance, they will be relieved of the necessity of providing some personal data, along with the information about the social media accounts, upon registration for an airdrop. Instead, they will submit this info only once and it will be stored on the Ethereum blockchain.
It appears that Coinstantine decided to disregard such an important factor as social media, because their presence on Twitter, Facebook, and Discord is virtually unseen. Only 814 Twitter followers and 56 Facebook members speak volumes about the community interest towards this project.
Coinstantine is currently having a pre-sale of their utility tokens called CSN which can be used to get access to the platform and use its functional set. The pre-ICO will last until August 15, followed by the ICO planned for the time period from September 1 until November 1. Right now, the price of 1 CSN is $0.25 or 1 ETH for 1300 CSN. The project accepts investments in ETH and BNB with no information being revealed about the minimum threshold, as well as the restricted areas.
|Start||October 1, 2019|
|End||November 30, 2019|
|68 days left|
The solution presented by Coinstantine would certainly be of benefit for both token issuers and participants in the airdrop programs. Of course, some very stingy users might complain about the fact that Coinstantine will literally force them to pay a fee for receiving tokens, which suppose to be tiny. On the other hand, it defeats the concept of getting "free tokens" via airdrops. They should change the marketing term to super-cheap tokens or something, otherwise, it would look dumb.
While the practice of forcing people, who want to get some tokens, to pay for them, even a small fee, may seem to be unfair and defeat the marketing purpose in some way, it will definitely allow projects to conduct way more airdrops, which is a good thing. Personally, I would prefer to pay a small fee for the chance of getting tokens of some decent project, instead of thinking whether it’s a scam or not. Although this concept is now new - there are at least a couple of similar ones, like Spacedrop - Coinstantine may put it into wider practice.
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