I had recently written a blog about how decentralized social media platforms have huge potential to grow and what benefits they serve over the centralized platforms. In case you missed it you can access it here - https://www.publish0x.com/crypto-projects-sams-reviews/debank-next-level-social-media-platform-for-crypto-xmjppyd
In this post I will be sharing my views whether it is worth the investment to mint a $96 ID on DeBank. Before I proceed further I would like to make it clear that this is just my personal approach with the risk I am willing to take, and like always you should DYOR before making a decision for yourself.
Some of the Key reasons why I am super bullish on DeBank are the following:
• Complete View of Your Portfolio- I have this habit of trying out any interesting crypto projects I come across or get recommended by friends. Since I keep trying out so many projects at times I lose track of which coins I am holding. DeBank gives a clear view of your holding across all chains even the new ones like Linea, zkSync and Polygon zkEVM.
• Track Whale Movements- We all know that before rest of the noobs get to know about any major happenings the big Whales are already making a move. With DeBank you can get visibility of what the whales are upto and if it involves any of the projects you are holding
• Get Paid for being Active- The more posts you interact with, the more valuable posts you share with your network will also give you $ rewards. You have the option to either move your rewards to your wallet or give out as reward to people who interact with your posts.
What will be the Advantage of Minting the DeBank ID?
• Airdrop Eligibility- There is no confirmed date or amount publicly announced for the airdrop by DeBank but it is highly likely that once the platform acquires a good userbase it will do an airdrop.
Some indications that they are already preparing for an airdrop and are defining what criteria to reward the early adopters is the badges that are available to mint. People who have minted the DeBank Web3 ID get to mint a special badge. Also you can mint additional badges once you get 100 followers which shows you are active on the platform. They also give specific badges to people who were eligible for UNI, ENS, OP airdrops. This shows they appreciate people who have been active in the Web3 space in general.
• Access Platform Functions- Most of the high reward posts are open for interaction only to those people who hold a DeBank ID. This means your experience and activity level will be very limited if you don’t mint the ID. This will also in turn reduce your airdrop eligibility. There many additional limitations for users who don’t hold the DeBank ID, like they can not add more than a couple of wallets to their account, they can not access certain whale wallet features, they can not follow more than 100 accounts etc.
Conclusion!
I have been tracking DeBank progress closely and they are just crushing their roadmap at the moment. They recently integrated with Rabby wallet, they just launched their mobile app and the number of projects that are getting active there keeps rising everyday. Activity level in general also seems to be picking up consistently with the top active users earning about $200-$300 everyday. The platform no longer has a beta feel to it and the airdrop snapshot can be taken any day now. I have a strong hunch that DeBank airdrop is going to be pretty big. This project still seems to be under the radar for most of the Web3 users and as of today only 29,660 users have minted the Web3 ID so if it is going to be an important criteria for airdrop then it is definitely going to be worth way more than $96. I will surely make a follow up post once the airdrop is officially announced.
Cheers,
Sam