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Previously spent 0.05 ETH to receive airdrop! Gas data website fees.wtf airdropping tokens "WTF" and NFTs

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Previously spent 0.05 ETH to receive airdrop! Gas data website fees.wtf airdropping tokens "WTF" and NFTs

The Ethereum Gas statistics platform fees.wtf has started airdrop registration from today, 1/14. Apart from the token "WTF," it also includes the official "rekt NFT," as well as airdrop recommendation links that can be upgraded through burning the WTF token.

fees.wtf

fees.wtf was launched in 2019, allowing users to link their wallets to check their personal gas data on the Ethereum network:

  • The total amount of gas fees spent.
  • The current USD value of the spent gas fees.
  • The number of transactions executed.
  • The average gas fee per transaction.
  • The number of failed transactions.
  • The gas fees spent on failed transactions.
Source: Twitter @feeswtf

Claiming Airdrops

All wallet addresses that spent at least 0.05 ETH in gas fees before 1/1/2022 and block height 13916450 are eligible for an airdrop. By linking your wallet and clicking Claim on the homepage, you can check how much WTF tokens you can claim and decide whether to unlock them.

In addition to gas fees, there is an extra 0.01 ETH fee that will go to the team, and users will also receive the following benefits from the airdrop.

fees.wtf "rekt" NFT

Eligibility for the WTF airdrop also means eligibility to claim the "rekt" NFT, which requires a 0.01 ETH fee. The "rekt text" will display the user's gas expenditure, and the NFT will grant access to an upcoming advanced data platform.

Pro Dashboard

The Pro Dashboard, as stated by the official announcement, will soon be released and will only be accessible to users who hold the "rekt" NFT or an advanced pass obtained by burning 50 WTF tokens. The advanced data includes charts, indicators, rankings, insights, and more, with the official team keeping details undisclosed.

Upgradeable Referral Links

Users can generate unique referral links on the official website. When someone uses the referral code to claim the airdrop, the user can earn a 10% fee, receiving 0.001 ETH per person. Upgrades can be done by burning WTF tokens:

  • Burn 10 WTF tokens: Upgrade reward to 0.002 ETH
  • Burn 100 WTF tokens: Upgrade reward to 0.003 ETH
  • Burn 1,000 WTF tokens: Upgrade reward to 0.004 ETH
  • Burn 10,000 WTF tokens: Upgrade reward to 0.005 ETH

Token Economics

According to the whitepaper, the WTF token mechanism is as follows:

  • Total token supply: 1.716 billion tokens.
  • Total airdrop supply: 1.616 billion tokens.
  • Staking rewards: 20 million tokens deployed.
  • Liquidity rewards: 40 million tokens deployed.
  • Treasury reserves: 40 million tokens deployed.
  • Team holdings: None.
  • Token mechanism: Deflationary.

On the right side of the image above, 4% of the tokens will be used for transaction fee payments, with details as follows:

  • 75% (0.6% of the transaction amount) rewards WTF holders.
  • 15% (3% of the transaction amount) is for liquidity pool rewards.
  • 5% (0.2% of the transaction amount) goes back to the treasury.
  • 5% (0.2% of the transaction amount) is injected into the WTF staking pool.

In the past few weeks, airdrops like SOS, LOOKS, MASK, GAS, etc., with limited utility for users, had tokens mainly for redemption purposes. Thus, projects like LOOKS and WTF have made significant plans in token economics to incentivize users to hold long-term.

The survival of the WTF token may depend on the availability of its advanced data platform in the future. As of now, there have been no reports of vulnerabilities in the claiming contract, but there are community concerns about the team earning hundreds of ETH through the official claiming link and potential bot manipulation in the WETH/WTF liquidity pool.

In the morning, gas fees surged to 800 Gwei due to the WTF airdrop and LOOKS trading volume, with WTF price down -55.5% before the deadline, reaching $0.125.