Solana’s ‘Less Fn Gas’ airdropped LFG tokens to those who utilized more than $4,269 in gas over the past year. It does not intend to slow yet.
Earlier in the week, ‘Less Fn Gas,’ a new Solana project, caught Crypto Twitter’s attention after airdropping 40% of its LFG token supply to Ethereum utilizers. This was a tactic to lure Ethereum Maxis to experiment with Solana.
This involves jumping over the proverbial fence, determining if the grass on the SOL decentralized finance (DeFi) may be greener, and using less f’n gas.
LFG Tokens Mulls Another Airdrop to Lure Ethereum Users
Despite increasing to $219M wholly diluted market cap and later reducing to nearly $25M after the hype started fading, the team responsible for the project is not done yet.
A pseudonymous LFT crucial team member told a media outlet that they are currently planning another airdrop that will be more inclusive compared to the original one. Additionally, they intend to develop a grants initiative for Ethereum developers intending to shift to Solana.
More than 50000 Ethereum users claimed the LFG airdrop within 24 hours following the token’s unveiling on Monday. Wormhole, a famous link between Solana and Ethereum, experienced a volume of $35M the same day.
This is the first time it has witnessed a rise since Solana meme coins began cooling down last week. However, it burned too hot quickly, and the token is currently down nearly 80% from its peak on Tuesday.
Airdrop Onbaords More New Users to Solana Network
Bobby Axelrod is an example of the pseudonymous devs behind LFG. The character’s name and likeness are acquired from ‘Billions,’ a Showtime series. The developer informed the media that he had talked with distinguished Solana community members concerning the creation of a project to move Ethereum users to Solana.
While referring to Phantom, a popular Solana wallet, he noted he is not aware how many of the 50000 users are sincerely new to Solana. However, based on the several DMs asking how to create a Phantom wallet, he believes there is a lot.
This project attracted the attention of some crucial thought leaders. Examples included Kyle Salmani, the founder of Multicoin Capital and Anatoly Yakovenko, Solana’s co-founder. Unluckily, scammers also identified the fast-rising token and posted phishing links in the tweets’ replies concerning the project.
In case one has spent some time on Crypto Twitter, they are aware this occurs frequently. However, this one managed to trick the chief executive officer and Bill Lou, Nest Wallet’s co-founder, who became a victim of the wallet-draining scheme.
That did not prevent Crypto Twitter from degening. Deeze, a famous pseudonymous crypto trader, took to X (formerly Twitter) to reveal he had claimed his airdrop. oxQuit, a fellow trader, posted a thread comprising a short security audit in which the token contract was declared harmless.
LFG Token Targets Broader Audience for Airdrop
According to Axelrod, this is the airdrop season, implying more is forthcoming. The initial one was restricted to Ethereum wallets, which had used more than $4,296 in gas over the past year. The next one is going to consider a broader audience.
In this case, eligibility will entail users who have used $1000 in gas. Besides, LFG will airdrop tokens to a few extra buckets. This includes those who have interacted with major Solana protocols, Ethereum developers who have deployed a smart contract, and persons who put up liquidity for the LFG token.
According to Axelrod, the LFG project’s current focus is onboarding Ethereum developers to Solana. He claimed that a major part of this airdrop will focus on persons who have deployed contracts on Ethereum. Further, he said that Less Fn Gas intends to utilize a part of its treasury to begin a decentralized grants initiative.
Ethereum developers will be capable of applying for grants to develop on Solana. It remains unclear whether the project possesses legs, owing to the extent to which it has fallen from its peak. However, with considerable backing from several famous figures from the Solana ecosystem, anything is possible.
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