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It looks like the @USDai_Official airdrop was solid, but only for the earliest participants.
Getting in early wasn't easy, though.
I remember the first caps were filled almost instantly when they opened.
Whale wallets were dropping 5-6 figures and filling the caps in seconds. If you missed that first wave, you were already behind on points.
The second deposit event was much easier to enter, but by then there was already a big point gap between early and new depositors.
Now the part that everyone's interested in.
The numbers ↓
300M CHIP was distributed to ~4,571 sUSDai holders.
→ Average allocation: ~65,600 $CHIP per wallet
→ Average deposit: ~$47,820
→ Average airdrop value at $0.03 token price: ~$1,970
Every $100 deposited returned roughly $4 in CHIP.
Add the ~6.4% base APY and a 6-month season, and you're looking at ~14% APY at the $0.03 ICO price.
CHIP doesn't have a market price yet, so we need to wait for TGE to see the real APY.
That said, 14% was the average, not the minimum.
The allocation scaled with Allo Points and strategy tier. Early depositors who ran Max or Boost strategies walked away with significantly more.
The numbers also show how concentrated the protocol is:
→ Total protocol TVL: ~$308M
→ sUSDai holders: 4,571 wallets
→ sUSDai supply: 218.6M (54.9% of total)
→ USDai supply: 179.2M (45.1% of total)
Less than 5,000 airdrop recipients in a $300M+ protocol.
Pretty disappointing result.
And premarket is dead.
This doesn't surprise me though, given how airdrops have been performing lately.