Algem is pleased to announce that it has formed a strategic partnership with Grabber.
Grabber is a unique solution that enables defi projects to connect with “good” defi users based on their on-chain activities.
The Problem: Token Dumpers
Most people in the crypto space sell their tokens shortly after the initial sale, which is not sustainable for the development of projects. Under the current token distribution model, users dump tokens on arrival rather than using the functionalities these projects provide. Rarely do people make use of the features and capabilities that have been built into these projects.
In short, the existing token distribution model is cumbersome for web3 startups, which is where Grabber comes in.
The Solution: Grabber Identifies High-Quality DeFi Users Based On On-Chain Activity and Connects Them With DeFi Projects
Grabber introduces a new token distribution model, rewarding customers who have demonstrated that they are “real” defi users instead of airdrop hunters or token dumpers.
Grabber can do this by looking at a user’s on-chain activity to identify those who have proven to be a positive influence due to their regular use of a specific defi product.
Using Grabber, projects are effectively linked with users needing their services. Compared to the typical token distribution model used by projects, this method is superior in fostering an engaged community of real users, which the crypto space needs now.
Users who sign up for Grabber through the Algem-Grabber integration will be given a score based on their on-chain behavior. We have set aside 250,000 ALGM tokens for this initiative and are excited to have Algem participate alongside Astar Network in this event.
Astar users who are actively contributing to the community and have demonstrated their competence through experience will be recognized by Algem in this campaign.
Grabber will assign a quality estimate and score to the user based on their prior on-chain activity.
Grabber will reward them in ALGM tokens depending on how well the user does.
Through this, Algem encourages participation in its ecosystem and warmly welcomes those who do so with rewards. Those who register, provide wallet details, and are verified by Grabber will receive one of the 250,000 ALGM tokens issued to this event by the Algem team after the token generation event.
Instructions for Participating in the Algem and Grabber Campaign
- To begin, you must sign up for a Grabber account.
- Select the Algem tab directly below the Astar section after selecting the Astar network.
- To join Grabber, click the signup button and enter your email and the express code provided to you.
- After registering, fill out the required fields with your social media profiles and wallet verification information.
- Click on Join on the Algem’s page and sign the transaction in your Metamask wallet
If you need ASTR tokens to pay the fee, you can claim them by connecting your EVM wallet to the Astar portal and use the faucet.
Otherwise, you will need to send ASTR to your EVM wallet from a CEX or DEX.
See our documentation for more information
- Users’ token allocations are determined by a score based on Grabber’s analysis of their on-chain activity about relevant projects.
- If selected, tokens can be claimed after Algem’s token generation event (TGE).
This collaboration aims to recognize and reward the community’s most valuable contributors. It also disincentives users from simply holding onto tokens and not using the project’s features. By working together, Algem hopes to create a more stable, engaged, and productive community.
Start claiming your ALGM tokens by clicking here and registering today, providing the required information, and waiting for a score from the Grabber team.
Algem is a decentralized application built on the Astar Network and offers two main features: liquid staking and liquid lending. As their names suggest, these two options let ASTR holders keep their assets liquid while putting them to work. Also, the liquid staking and lending solutions let users use Algem’s liquid nASTR tokens across Astar’s Defi ecosystem to earn staking rewards and make more money. In doing so, Algem supports other Defi protocols by providing liquidity and creating a sustainable and cooperative ecosystem on the Astar Network and Polkadot.