Paldo! Pinoys Reap Up to ₱2M Rewards from $GRASS Airdrop Amid Phantom Wallet Chaos

Despite the slowed claiming process due to the technical difficulties with Solana’s wallet Phantom, Filipino holders of the $GRASS token reported high returns on their investments. One trader claimed to have reaped around $34,000 or ₱2 million.

What’s the significance: The enthusiasm around the GRASS airdrop, which the crypto community “farmed” showcase how people are increasingly interested in alternative ways to make money, technical setbacks aside. (Read more: BIG List: Crypto Airdrops to Watch Out For in 2024 (Updated Oct. 2024)

• Also read: Top Yield Farming Platforms for 2024 for Pinoys: Maximize Your Crypto Earnings
• What is Paldo? Where to Put your Crypto Profits After Significant Gain?

Key details:

• The Grass airdrop went live on October 28 at 13:30 UTC, distributing 100 million GRASS tokens (10% of the total supply).
• With the number of claimers, the Phantom wallet experienced a downtime that led to claiming delays and community backlash.
• In a Facebook group of Filipino crypto traders and enthusiasts, several holders showed that they experienced “paldo” for selling their unused internet bandwidth to GetGrass, an AI-based, blockchain-utilizing network.

Two traders shared their paldo experiences, with one converting GRASS tokens worth ₱6,151 and another reaching $6,199 (over ₱361,000).

[Caption translation: Thanks, Grass! I was able to sell my 87.88 + 54.01 GRASS tokens. Glad I caught it at 51 pesos/GRASS for my 54.01 tokens today. Last night, I sold my 87.88 GRASS at only $0.69 since I panicked, thinking it would drop.]

[Caption translation: I’ve been taking care of this since June or July 2023… Congrats to everyone in our group chat who joined in, hahaha. This really motivates me to keep grinding – maybe what you’re working on now will be the next big payout!]

Another trader claimed hitting millionaire status due to Grass Airdrop.

On the other hand: Shun, a web3 content creator and the founder of Project One Percent, shared that he’s staking all his GRASS tokens and won’t sell unless the price hits $2 or higher.

• He also stated that he’s buying more from airdrop sellers, as he is confident in the project’s long-term potential.

“Binasa ko yung docs nila at nagustuhan ko yung nabasa ko, at ayon bullish na ako sa kanya long term. First of it’s kind in web3 and have a real world use case. Good tokenomics, VC’s allocation has a 1 year cliff. That’s all I need to know. DYOR, this is me, magkakaiba tayo ng tingin sa market.”

Shun, Founder, Project One Percent

[Translation: I read their documents and liked what I saw, which is why I’m bullish on it long-term. It’s the first of its kind in Web3 and has a real-world use case. It has good tokenomics, with a one-year cliff for VC allocations. That’s all I need to know. Do your own research; this is my perspective, and we may see the market differently.]

What happened with Phantom Wallet

• Technical Issues: The airdrop process faced challenges as Solana’s Phantom wallet experienced a nearly 3-hour downtime, causing delays and inaccessible token claims for users.
  • It began at 1:36 P.M. UTC, six minutes after the GRASS token airdrop went live, and services resumed at 4:20 P.M. UTC.
• User Frustration: Community backlash grew over missing allocations for some users.
• Wallet Provider Response: Phantom acknowledged the outage on X, confirming their team was actively working to resolve the situation and prevent future disruptions.

The numbers: The GRASS token price briefly surged to $1.00 but fell after the initial distribution.

• Currently, CoinGecko data shows that it is priced at $0.9007 with a 1.3% decrease in the last 24 hours. 

How it works: Grass AI, developed by Wynd Network, is a decentralized platform on the Solana blockchain that lets users earn GRASS tokens by sharing unused internet bandwidth, contributing to AI model training. 

• It was highlighted that through the Grass desktop app, users can passively earn rewards while maintaining privacy and data security, as no personal information is shared in the process.

What to watch: With Season 2 of the airdrop now underway, holders should keep an eye out for the release date.

This article is published on BitPinas: Pinoys Reap Rewards from $GRASS Airdrop Amid Phantom Wallet Chaos

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