Most launchpad tokens die, their bags become worthless, and airdrops by balance pay the farmers instead of the people who lost.
Most tokens die#
On a launchpad chain, creating a token costs almost nothing. Most tokens trade for a few hours or days, then stop. Some are abandoned. Some are rugged: the liquidity is pulled and the price falls to near zero.
The people left holding are mostly late buyers. They bought near the top, at real prices, and could not sell before the end.
A dead bag is worthless, but the wallet behind it is not#
A dead bag cannot be sold for anything meaningful. Yet the wallet that holds it tells you something useful:
- it bought on this chain, with real HYPE;
- it bought a specific kind of token, so it has a known taste;
- it stayed instead of flipping.
For a new project, that wallet is a real potential holder. Today there is no clean way to reach it and offer it something.
Airdrops by balance pay the wrong wallets#
The usual tool is a snapshot airdrop: take every holder of token X at block N and pay by balance. On a bonding-curve launchpad, the biggest balances usually belong to the wallets that bought first and cheapest: block-1 snipers and bundles. They paid least per token and often already took profit on the rest.
So an airdrop by balance sends most of the budget to the wallets that lost least, and often to wallets that made money. In the worked example, a sniper gets 8.3 times Lina's share in a snapshot airdrop, while Lina is the one who actually lost.
What Danake changes#
Danake pays for a proven loss, not a balance:
- The Roll computes, for every wallet, what it paid for the tokens it still holds and what those tokens are worth now. Only the difference counts.
- Tokens received by transfer cost zero, so moving a bag between wallets creates no loss.
- The snapshot is in the past, so buying after a Fare is announced does not help.
- The holder must burn the bag to be paid, so the same loss cannot be sold twice.
The result is an offer that reaches the wallets that actually lost, priced on what they lost.