Following behind the heels of the Ethereum Name Service (ENS) airdrop, we have an announcement by Tera Name Service (TNS) that they will be airdropping their native token to all users of their services.
One only has to look at the ENS airdrop and the hype it caused, ENS and TNS are essentially a service that allow users to have their addresses identifiable by a set of characters of their choice, so instead of a long address like 0x2570fFsh42…, people can easily find you by searching Cryptoboi.eth, etc.
These domains also allow one to link their Twitter, Email, Website, NFTs or even various crypto addresses (based on what the platform supports). Essentially, this can represent your crypto profile or crypto ID. It contains all relevant info that you want and can easily be used for networking and payment!
When the ENS airdrop went live, the project “airdropped” 200, 500 and 1000 ENS tokens based on the activity and contribution to the project by the users of their service. At the time of the airdrop, the respective amounts would’ve been worth:
- $8614 – 500 tokens
- $21535 – 500 tokens
- $43070 – 500 tokens
This is life changing money for some people and it has people hunting airdrops everywhere.
Enter, Tera Name Services, providing all the utility above they are focused on the Tera ecosystem and have recently announced an airdrop program. Their addresses end in .ust, an example would be Satoshi.ust, etc. Essentially, 25% of the tokens (8.33 million to be precise) will be set aside for the airdrop. Buyers of their service will be eligible for the airdrop, specific details surrounding the airdrop have not been released yet but we do know that it is set aside for purchasers, or really renters, of the TNS. The airdrop program will run over a 2 year course.
The Tera Name Services token will have utility in the form of governance, a revenue-sharing token and staking which will entitle the staker to a portion of the project’s service’s fees as well as TNS rewards from staking. It should be noted that you will need Terra’s native browser extension wallet called “Terra Station”.
Let’s have a look at the basis cost to become eligible for the airdrop. (Excluding Gas; price may change)
- Names with 5+ characters will be $24 of UST per year;
- Names with 4 characters will be $160 UST per year; and
- Names with 3 characters will be $640 UST per year.
So in order to maximize your exposure to the airdrop of the TNS token, it would be wise to rent your .UST name for a 2 year period. Thereby having a cost basis of around $50 to rent it for 2 years and have maximum exposure to the airdrop. I found that an 8 character name for 2 years would only cost roughly $34 for me but this might just be based on the time of the day or the prices have changed so make sure you check out the site here and their twitter.
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