$HFT Airdrop

    Analyze $HFT Airdrop distribution

    Introduction

    what is Hashflow?

    HashFlow is a decentralized exchange or cross-chain DEX on the platform of Ethereum and has a swap service without the need for a bridge. What we mean by swap without the need for a bridge is that the entire swap process between Ethereum, Binance China, Avalanche, Arbitrum, Optimism and Polygon networks is done within the program.

    What is HFT?

    HFT is the governance token for the Hashflow protocol. It will be a token deployed on the Ethereum mainnet and BSC.

    At genesis, the total HFT supply will be 1,000,000,000 Tokens, and Initial Circulating Supply is 175,229,156 HFT (17.52% of genesis token supply)

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    Method

    contracts and summary on how I collected the data:

    summary

    • When the user requests to claim, the airdropped token is transferred from the address 0x1a9a4d919943340b7e855e310489e16155f4ed29 to the user's address, the address contract of this transfer is the HFT token contract which is 0xb3999f658c0391d94a37f7ff328f3fec942bcadc.

      with help of this information and ethereum.core.fact_event_logs table we can collect all the data available for claiming process

    • the price of HFT Token calculated with help of swap tabel,

    date_trunc('HOUR',BLOCK_TIMESTAMP) AS HOUR,
    sum(AMOUNT_IN)/sum(AMOUNT_OUT) AS ETH_price  
    from ethereum.core.ez_dex_swaps
    where TOKEN_OUT='0xb3999f658c0391d94a37f7ff328f3fec942bcadc' and TOKEN_IN='0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2'
    group by 1
    

    with that we will have price of HFT in ETH, But if we multiply the Ethereum price by it, we can get its USD price

    our approach for answering the bounty questions:

    The method of analysis of this event will be based on questions and answers. The questions that will be answered in this dashboard are related to the claiming process itself and which stage it is in or the behavior of the airdrop recipient addresses.

    A few basic points to mention is that we are only dealing with the Ethereum network here, and we will observe the behavior of addresses on the same network.

    The Total airdrop amount extracted from 0x1a9a4d919943340b7e855e310489e16155f4ed29 initial balance of HFT which was 75M USD. this address is deployed for claiming process

    case when Balance < 100 then 'shrimp' when Balance between 100 and 1000 then 'crab' when Balance between 1000 and 10000 then 'octopus' when Balance between 10000 and 100000 then 'fish' when Balance between 100000 and 1000000 then 'dolphin' when Balance > 1000000 then 'whale'

    our insight will be base on HOURLY timeframe.

    Conclusion

    • Until this moment, Nov 11, 14:00, out of 75M tokens allocated for airdrop, about 53.8M or 71.8% of them were claimed by 16.26K addresses or users.
    • most of the Airdrop was claimed in the early hours
    • After airdrop first day, which was November 7, Hourly claimed amounts decreased greatly.
    • 74.7% of users who claimed airdrop so far received less than 1K tokens and percentage of those who received more than 20K tokens is about 3.64%.
    • 4.33% of those who received the airdrop are currently holding it
    • 77% of airdrop amount which is equivalent to 35.4M tokens was transferred to Binance after claiming
    • Half of the users who received the airdrop belong to the shrimp category, which means their wallet balance is below 100 USD. There are 198 wallets with a balance of more than 100M USD or whales

    Thanks For your time

    Discord and Twitter: Abbas_ra21

    date: 2022-11-11

    Picture source : Link

    Observation

    • Half of the users who received the airdrop belong to the shrimp category, which means their wallet balance is below 100 USD. There are 198 wallets with a balance of more than 1M USD or whales
    • In the first hours, the share of shrimps from claiming transcations was more than other categories, but with the passage of time, this share decreased.

    Observation

    77% of airdrop amount which is equivalent to 35.4M tokens was transferred to Binance after claiming, much higher than other destinations. In second place we have the Mexc exchange with about 2.77M tokens. The difference between the first and second place is very high, although this was predictable after token launching on the Binance.

    1. So far, how much of the total amount allocated for airdrop has been claimed? What percentage of it had been claimed? After the early hours, are their high claiming amount?
    1. What percentage of those who claimed the airdrop still hold it? how number of seller (transfer or swap) changed by HOUR?
    1. How was HFT price action after starting the claim process? Did it start a sharp downward movement?
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    Observation

    • Of those who claimed the airdrop, only 2330 people have held it so far, that is 14.33% of those who received the airdrop.
    • We can see that in the hourly statistics of AirDrop sellers number, most of the users who claimed the AirDrop, transferred their AirDrop to the exchange or swapped it in the same hour of claiming.
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    1. Where did the users transfer their airdropped tokens?
    1. are whales or addresses with a balance of more than 1M USD involved in this process? Most Airdrop recipients fall into what category based on balance?
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    Observation

    • 74.7% of users who claimed airdrop so far received less than 1K tokens and percentage of those who received more than 20K tokens is about 3.64%.
    • The highest number of claim transactions in the first hour was related to users who received less than 1000 tokens, but with the passage of time their share became less and less and gave way to higher categories.
    1. How many tokens have most addresses received? what is the correlation between it and time of claiming?

    Observation

    • Until this moment, Nov 11, 14:00, out of 75M tokens allocated for airdrop, about 53.8M or 71.8% of them were claimed by 16.26K addresses or users.
    • 65% of the total airdrop amount was claimed by 13K users in the first day
    • On the 7th of November at 13:00, about 20.9M tokens were claimed, which is the highest hourly claimed amount. On this day, we also had the highest hourly claimers number with about 5814 user. In the same first hour, the percentage of airdrop claimed amount reached 28%, and in the next hour, 14:00, this percentage reached 51% So we can conclude that most of the Airdrop was claimed in the early hours
    • After airdrop first day, which was November 7, Hourly claimed amounts decreased greatly.

    Observation

    • Although the HFT token was launched and traded on Binance, the market conditions and the selling pressure of the claimers caused the price to drop from 1.27 USD at the beginning of the claim to its current price which is 0.65 USD. almost 50% decreasing
    • Of course, this price drop is not specific to HFT, and we see a sharp downward movement in the price of ETH and BTC simultaneously with this token.
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