Berachain airdrop "rich and poor": NFT holders earn up to $55.77 million, test network users receive only $60

Author: Frank, PANews

Berachain, the first major project launched in the Year of the Snake, officially started airdrop distribution on February 6. Judging from the market trend, its token BERA showed a script of opening low and closing high after it was launched, with the price soaring from US$7.5 to a maximum of US$15.5, and the initial market value also reached a maximum of US$1.58 billion.

However, Berachain's airdrop allocation has caused a lot of controversy on social media. Many test network users said that the official allocation to test network users was only 1.65%, and the allocation to Binance users and NFT holders The proportions were 2% and 6.9%, respectively, which caused dissatisfaction in the community.

Since Berachain has not launched the data dashboard for this airdrop, the official browser does not support viewing specific airdrop smart contract statistics. Therefore, only PANews can calculate and infer the airdrop situation of Berachain through some known data.

6 NFT big players received a share of US$306 million, and the highest

single address was US$55.77 million.

According to the official airdrop instructions, holders of Bong Bears NFT or subsequent (Bond, Boo, Baby, Band, Bit Bears) can receive a total of 34.5 million tokens airdrops.

How many NFTs are there? According to official statements, there are 6 series of NFTs involved in airdrops, namely 107 Bong Bears NFTs, 126 The Bond Bears, 270 The Boo Bears, 570 The Baby Bears, and 2298 Bit Bears by Berachain 1,162 of The Band Bears were released.

The total total is about 4533 NFTs, and each NFT can get 6553 tokens on average. Calculated at a price of up to $15.5, these NFT holders can get up to $101,000. Of course, this allocation should not be evenly distributed, but is allocated according to the scarcity of each NFT.

According to a PANews survey, the NFT series with the most allocated single is Bong Bears NFT, which receives 48,797 tokens per NFT with a maximum value of approximately US$756,000. The Bond Bears is second, and can also get 39,115 tokens, with an amount of about 606,000 US dollars.

Because NFT holdings are often concentrated in the hands of some big players. For example, 0x6b1C...A89c This address holds 89 The Bond Bears, accounting for 70% of the issuance. After query, the address obtained 3.598 million tokens, with a maximum value of about 55.77 million US dollars. This series The highest trading price of NFTs reached 140 ETH (worth $378,000) on the evening of February 6. Based on this calculation, the total value of 92 NFTs was about $34.77 million, which is still below the airdrop income. At present, the quotes for this series of NFTs have fallen to around 10 ETH.

According to PANews query, it was found that most of the allocations of these NFT holders were concentrated among several large investors. The six largest large investors with the largest positions had a total of 19.78 million tokens, with a maximum value of about US$306 million. These 6 large investors allocated an average of 3.29 million tokens per address. The number of tokens obtained by these six major investors alone far exceeds the total airdrop quota of 8.25 million tokens with millions of addresses on the test network.

Test network users may have a minimum living allowance of $60

In contrast to the style of NFT holders getting rich, the total allocation of test network users is 8.25 million. According to previous media reports, as of January 2, the cumulative number of wallets participating in Berachain's PoL mechanism has exceeded 238. Ten thousand, the average number of tokens that can be divided per wallet is about 3.46 tokens, with a maximum value of about 53.7 US dollars.

Looking back on the overall situation, the total number of airdrops this time is about 79 million tokens. As of February 7, the official website's coin holding addresses were about 730,000, and the average number of airdrops per address is about 108 (actual data It may be even lower because some users have not received it and there is a delay in unlocking tokens). From the chain perspective, the lowest number of airdrops should be 3.92, with a maximum value of about US$60.

However, compared with recent airdrops, Berachain's total airdrop size is about US$592 million (calculated at the opening of US$7.5), which is similar to HYPE. For the highest single address, Berachain's largest single address has a airdrop of $55.77 million, the highest among recent projects. However, judging from the minimum living allowance of 3.92 tokens, this level may be the lowest among several major airdrop projects in recent days. From this perspective, the gap between the rich and the poor on the airdrop on Berachain seems to be a bit big.

Is there a big gap between the rich and the poor, can VC unlock in

disguise?

The airdrop ratio also caused dissatisfaction among many users who made a lot of contributions on the Berachain test network in the early days. In particular, the total airdrop of test network users is only 1.65%, while the total number of Binance users is as high as 2%, and the number of NFT holders reaches 6.9%.

In response, the official explanation believes that "Berachain would never exist without Bong Bears and its subsequent derivatives. NFTs appeared before the chain, and NFT holders have always been the oldest and most supported member of the Berachain community. One, countless holders have developed to launch their own dApp or community programs within the ecosystem.”

The explanation about Binance user allocation is: Berachain respects the BSC chain very much.

In addition, Berachain's VC income this time is also one of the key points of market attention. DYθR founder hitesh.eth posted on X that Berachain's average entry price of VC is about $0.82 by allocating about 34.3% of the supply to VC. If BERA matches SUI's unimplemented VC gains (about 15 times), the token should be priced above $15 at launch, but hitesh-eth thinks this is low. If the token matches Sei's unrealized VC income (approximately 10 times), its listing price should be higher than USD 10. Therefore, the bull market price of BERA will be between $10-15 and the bear market price will be between $5-10.

In terms of the price trend afterwards, the price of BERA did break through $15 in a short period of time. However, VCs have a year left to unlock, and the price at that time is currently unpredictable. But some KOLs said on social media that Berachain's unlocked tokens can be staked to receive rewards, which is undoubtedly another kind of monetization unlocking. This behavior has also aroused doubts from the community.

After a short-term breakthrough of $15.5, BERA began to fall rapidly, falling to $6.7, with a pullback of more than half. In this regard, Rui from HashKey Capital believes that the reason for this phenomenon is: "On the one hand, the overall liquidity level is very poor, and on the other hand, the voice of short selling if you are not optimistic has reached its peak this time."

Judging from the data on the chain, the number of transactions on the first day of Berachain's main network was more than 1.14 million, and the number of independent addresses exceeded 140,000. With the continued application of airdrops, these data should continue to rise in a short period of time. However, in the face of the current controversy over airdrop allocation in the community and the fierce market short selling sentiment, can Berachain's on-chain activity be maintained at a high level after the airdrop ends? Can the price trend continue Hyperliquid's script? Everything is an unknown.