Ethereum Rival Dfinity’s $35m Airdrop Is Underway

Ethereum Rival Dfinity’s $35m Airdrop Is Underway

Dfinity, the platform pitching itself as Ethereum’s new major rival, is in the process of distributing tokens worth $35 million to long-term supporters of the project. Tokens worth 25 million Swiss Francs will be distributed to those that joined the mailing list before April 4, and tokens worth 10 million Francs will go to those who joined after April 4. Community members have until 8th June to complete the KYC process.

The airdrop will distribute 1.25 percent of the token supply, which gives the platform a value of 2.8 billion francs. The network’s Telegram channel has 50,000 members, equating to CHF 700 per member – however, this is all based on the value Dfinity itself is ascribing to its tokens.

Dfinity worth $2.8 Billion?

The airdrop is very generous and having a large community of token holders can’t be a bad thing. However, sceptics point out that it’s also an efficient way to mark up the value of the token – potentially giving early investors a lucrative exit when the token begins trading.

Back in May, the ICODrops website tweeted what it alleged to be a leaked table laying out Dfinity’s plans to sell 10 percent of the token supply for $350 million. While the public sale didn’t materialise, the valuation the report was based on is not far from the valuation being used today.

Dfinity is building a cloud-based decentralised computer. Some see it as a rival to Ethereum, though the team see it as a complementary network. It may indeed be a promising project – but until the network is launched, and tokens begin trading on an exchange, $2.8 billion seems a little high for some analysts.