By Asher (@Asher_0210), Odaily Planet Daily

It's time to get your "pork trotter rice" again.

Last night, according to official news, Binance Alpha will launch Towns (TOWNS) on August 5th. Although Towns did not hold a TGE in Q2, its listing on Binance Alpha means that Towns will soon be airdropping tokens for early adopters.

Below, Odaily Planet Daily will take you through the Towns project, token economics, airdrop details, over-the-counter (OTC) price, and point valuation.

Towns: The blockchain version of Discord

Towns is a group chat protocol and application designed for online communities. It consists of three components: smart contracts, a decentralized node network, and applications built on the Towns protocol. The most significant feature of Towns is that it leverages the concept of a town square, combining communities, NFTs, and games to provide users with an Ethereum-based smart contract system and end-to-end encrypted chat. Towns allows community members to own their own town squares and freely communicate with others using a fully decentralized, end-to-end encrypted chat protocol.

Towns provides users with the fundamental building blocks for creating their ideal communities. Ownership of each Town is stored on-chain, allowing it to be transferred, sold, or held by another smart contract (such as a DAO or multisig). Towns also empowers communities to create programmable, autonomous gathering spaces for communication. New clients or APIs can be built, while maintaining full control and customization. Any group can use Towns to organize and freely chat, designing rules that suit their needs. Furthermore, community owners can create unique community, NFT, and gaming experiences, such as selling access keys to specific channels, rewarding members for their contributions, or allowing users to trade NFTs directly in chat.

According to the latest official disclosures, Towns has raised $46 million to date from investors including a16z Crypto, Coinbase Ventures, Benchmark, Framework, and echodotxyz.

Towns' total funding has reached $46 million.

According to Towns project leader coinbilly, the Towns platform has generated over $35 million in real revenue to date, with approximately $3.5 million in transaction fees used for buyback and destruction.

Towns Token Economics: Airdrops Account for Nearly 10%

TOWNS is an ERC-20 token with an initial supply of 10 billion tokens and an initial annual inflation rate of 8%, which decreases linearly to 2% over 20 years. The annual increase in tokens is calculated as follows: Annual inflation = Current total supply * Annual inflation rate (e.g., if inflation is 800 million in the first year, the total will increase to 10.8 billion in the second year, 864 million in the year after, and so on). In addition, the specific token distribution is as follows:

• Community Reserve: 43.14%;
• Team: 21.46%;
• Investors: 13.74%;
• Airdrop: 9.87%;
• Nodes Year 1: 7.9%;
• Public Investors: 2.62%;
• Node Inflation: 1.27%.

TOWNS Token Economic Model

Early adopters will receive nearly 10% of the total token supply, with 43% remaining for future rewards.

Nearly 400,000 users have points, with users with more than 1,000 points ranking in the top 75%.

According to on-chain data, the Towns platform has a total of 573,000 users and 446,000 towns created, of which 397,000 have points. The specific points distribution is as follows:

• Users with more than 100,000 points: 7,000, ranking in the top 1.76%;
• Users with more than 50,000 but less than 100,000 points: 6,000, ranking in the top 3.35%;
• Users with more than 20,000 but less than 50,000 points: 22,800, ranking in the top 9.07%;
• Users with more than 10,000 but less than 20,000 points: 25,800, ranking in the top 15.57%;
• More than Users with 5,000 to less than 10,000 points: 28,500, ranking in the top 22.75%; Users with more than 1,000 to less than 5,000 points: 210,000, ranking in the top 75.64%; Users with more than 0 to less than 1,000 points: 95,900, ranking in the top 100%. It's not hard to see that users with more than 1,000 points rank in the top 75%, making them very likely to receive an airdrop.

  Analysis of the members who created towns reveals the following:

  • There are 34,900 towns with one member;
  • There are 27,900 towns with 2-3 members;
  • There are 36,000 towns with 4-5 members;
  • There are 47,100 towns with 6-10 members;
  • There are 12,200 towns with 11-15 members;
  • There are 4,900 towns with 16-20 members;
  • There are 12,500 towns with more than 20 members.

  Most towns are still in their early stages, with only 16.8% having more than 10 members. Additionally, you can query their rankings on layerHub by entering your wallet address without connecting to a wallet (link: https://layerhub.xyz/search?p=towns).

  The first round of snapshots ended on April 10th, and the second round has not yet taken place.

  Previously, Towns announced on X that the first round of snapshots had concluded on April 10th, and the second round would take place before the airdrop (which has not yet taken place). Both snapshots will be included in the token airdrop. Therefore, to maximize the number of airdrop tokens received, users with a history of interaction are advised to continue to check in daily and remain active until the airdrop query system is open.

  

  Daily Check-in Diagram

  4 billion points exchanged for 1 billion tokens; the airdrop may be a small payout

  According to on-chain data, the Towns platform has already distributed over 4 billion points. In the token economic model, approximately 10% of the total token supply is allocated for airdrop rewards, or approximately 1 billion TOWNS tokens. Assuming that the current 400,000 points holders will receive the airdrop, the overall ratio is "1 billion tokens for 4 billion points"—that is, each point can be redeemed for approximately 0.25 TOWNS. Based on the pre-market trading price of TOWNS on Mexc (currently $0.049 per token), the potential value of each point is $0.0049. This means that for every 10,000 points a user holds, they will receive 2,500 tokens, for an estimated $120 worth of tokens in the airdrop.

  

  TOWNS token pre-market trading price on the Mexc platform

  The above analysis does not take into account factors such as point thresholds and Sybils. Users who qualify for the token airdrop will receive tokens of greater value. However, both objective data and community sentiment suggest that this Towns airdrop is likely to be a minor one.