{"id":11532,"date":"2024-10-04T14:24:26","date_gmt":"2024-10-04T14:24:26","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=11532"},"modified":"2024-10-04T14:24:26","modified_gmt":"2024-10-04T14:24:26","slug":"wallet-holder-offering-a-new-token-distribution-model-explained","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=11532","title":{"rendered":"Wallet Holder Offering: A New Token Distribution Model Explained"},"content":{"rendered":"

Photo by Shubham Dhage<\/a> on\u00a0Unsplash<\/a><\/p>\n

In the crypto world, new projects use various methods to attract\u00a0users.<\/p>\n

Initially, ICOs (Initial Coin Offerings) were popular, but over time, many ICOs failed or became unreliable, leading to the emergence of alternatives like IEOs (Initial Exchange Offerings)<\/a> and STOs (Security Token Offerings).<\/p>\n

Another method to attract users is through airdrops. However, like ICOs, airdrops often resulted in unfair token distribution, with whales or cheaters benefiting more than legitimate users who genuinely supported the projects.<\/p>\n

To address this issue, a new and more legitimate way to distribute crypto assets emerged: the Wallet Holder Offering\u00a0(WHO).<\/p>\n

What Is a Wallet Holder Offering?<\/h3>\n

A Wallet Holder Offering is when a specific wallet distributes tokens from its partners to users in exchange for completing certain\u00a0tasks.<\/p>\n

SafePal was the first wallet to introduce this innovative airdrop mechanism. WHO is designed to reward SafePal software and hardware wallet users by giving them access to partner tokens in a secure, decentralized, and user-friendly manner.<\/p>\n

The amount of reward tokens each participant receives is determined by the number of participants and the number of tasks completed.<\/p>\n

For example, to participate in an offering on SafePal, users may need to hold a certain amount of SEP tokens, complete tasks like joining or sharing partner social media handles, and then receive rewards based on their activity.<\/p>\n

Currently Available Wallet Holder Offerings<\/h3>\n

Safepal is the first wallet to successfully conduct three\u00a0WHOs.<\/p>\n

The first one is with Tokocrypto, which is Indonesia\u2019s leading crypto asset exchange, and the second one is OpenOcean which is the world\u2019s first DeFi & CeFi full aggregator; the last one is a Moonpot which is a no-loss lottery protocol on the Binance Smart\u00a0Chain.<\/p>\n

All three offerings received a good response from the Safepal\u00a0users.<\/p>\n

But currently, except Safepal, no wallet came forward to conduct the\u00a0WHO\u2019s.<\/p>\n

Benefits of Wallet Holder Offerings for Blockchain Project<\/h3>\n

Authentic User\u00a0Base<\/h4>\n

In the old Airdrop mechanism, blockchain projects may end up issuing tokens to whales or scammers, who do not bring any value to the project even though they don\u2019t care about it. They just see Airdrops get rich quick schemes that don\u2019t have any\u00a0cost.<\/p>\n

But in WHO, the project gets an authentic user base who understand the project and see value in it because they\u2019ve already passed the many tasks where they get enough information about the project if they feel the project is not worthy or don\u2019t have any prior knowledge about the project they can\u2019t complete the tasks and not become a part in the offering.<\/p>\n

Immediate User\u00a0Base<\/h4>\n

WHO campaigns provide projects with an immediate and valuable user base by tapping into the wallet\u2019s existing\u00a0users.<\/p>\n

This method is more effective than airdrops, which often struggle to attract genuine interest without significant marketing.<\/p>\n

Cost Saving<\/h4>\n

WHO substantially reduces the capital expenditures towards marketing funnels for acquiring initial users so the project team will be able to save time and effort towards administrative and marketing efforts and focus more on the project development.<\/p>\n

Fair Distribution of\u00a0Tokens<\/h4>\n

Tokens are distributed based on the number of participants and tasks completed, rather than on the holdings of large investors, ensuring a more equitable distribution.<\/p>\n

Benefits of Wallet Holder Offerings for\u00a0Users<\/h3>\n

Get Better\u00a0Insight<\/h4>\n

By completing tasks, users gain a deeper understanding of projects, helping them make informed decisions.<\/p>\n

Safety<\/h4>\n

Since tokens are distributed via trusted wallets, users are protected from potential scams.<\/p>\n

Simple and\u00a0Easy<\/h4>\n

Users earn rewards simply by using the wallet and completing tasks\u200a\u2014\u200athere are no complicated rules, and rewards are sent directly to the\u00a0wallet.<\/p>\n

Final Thoughts\u2026<\/h3>\n

Although Wallet Holder Offering is still relatively new, it has the potential to become one of the best ways to attract attention to blockchain projects and offer users additional earning opportunities.<\/p>\n

What do you think? Share your thoughts in the comments.<\/p>\n

Wallet Holder Offering: A New Token Distribution Model Explained<\/a> was originally published in Coinmonks<\/a> on Medium, where people are continuing the conversation by highlighting and responding to this story.<\/p>","protected":false},"excerpt":{"rendered":"

Photo by Shubham Dhage on\u00a0Unsplash In the crypto world, new projects use various methods to attract\u00a0users. Initially, ICOs (Initial Coin Offerings) were popular, but over time, many ICOs failed or became unreliable, leading to the emergence of alternatives like IEOs (Initial Exchange Offerings) and STOs (Security Token Offerings). Another method to attract users is through […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-11532","post","type-post","status-publish","format-standard","hentry","category-interesting"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11532"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11532"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/11532\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}