Buzz Points Redefine Fairness in Web3 Airdrops

ChainGPT Pad has introduced the Buzz system, a new framework designed to reshape how Web3 projects allocate tokens by leveraging social engagement. This initiative introduces two campaign formats: Buzzdrops and Initial Buzz Offerings (IBOs), which are intended to foster community participation and reward users for authentic online activity, such as posting and sharing on X (Twitter) [1]. The system aims to address the issues commonly associated with traditional airdrops and IDOs by aligning token distribution with measurable social impact [2].

The Buzz system employs a performance-based scoring mechanism to track user activities and convert them into Buzz Points. These points are reflected on live leaderboards, with token allocations being distributed proportionally at a snapshot [1]. Key features of the Buzz system include daily quests for earning extra points, leaderboard rankings that influence reward shares, a referral system for earning a percentage of points from referees, and quality bonuses for high-engagement posts [1]. Furthermore, the system ensures fair distribution by imposing caps to prevent dominance by a single user, with up to 1,000 winners potentially sharing a pool in larger campaigns [1].

Buzzdrops are community-driven token distribution campaigns where participants earn tokens through activities like posting, sharing, and completing tasks. Upon the snapshot, these allocations are transparently distributed on-chain to real contributors [1]. IBOs, on the other hand, combine community engagement with early access allocations. Users can participate by earning Buzz Points, completing KYC, and committing stablecoins, with allocations scaled according to their impact on the leaderboard [1].

For Web3 projects launching via the Buzz system, the process is designed to be straightforward. Projects can select between a Buzzdrop or IBO, set campaign rules, and distribute tokens via on-chain settlement. The system is designed so that 50% of allocations go to stakers and 50% to buzzers, ensuring a balanced and diverse token holder base [1]. Gintare Kairyte, CEO of ChainGPT Pad, emphasizes that Buzzdrops and IBOs offer a fair and viral launch strategy, enabling projects to enter the TGE phase with an engaged and active community [1].

The first campaigns under the Buzz system are set to feature SnowBall Finance, Ekox, and ChainGPT, with additional campaigns expected to be announced in the near future [1]. ChainGPT, an AI-powered Web3 infrastructure provider, continues to expand its ecosystem, which includes tools such as the ChainGPT AI suite and the upcoming AIVM blockchain. This blockchain is designed to support decentralized AI compute and verifiable on-chain execution [1].

Source: [1] ChainGPT Pad Unveils Buzz System: Turning Social Hype Into Token Allocation (https://cointelegraph.com/press-releases/chaingpt-pad-unveils-buzz-system-turning-social-hype-into-token-allocation) [2] ChainGPT Pad Unveils Buzz System: Turning Social Hype Into Token Allocation (https://markets.businessinsider.com/news/currencies/chaingpt-pad-unveils-buzz-system-turning-social-hype-into-token-allocation-1035103666)