16. April 2024

Crypto Projects Thriving: Community Engagement Proving its Value

• The launch of the Arbitrum protocol’s native governance token ARB on March 23 had a huge response from users and DAOs, with the claim page crashing shortly after its launch.
• Community engagement has always been a key aspect of crypto, and projects like Arbitrum and Core DAO demonstrate that community-driven initiatives can still thrive in bear markets.
• Transparency and inclusion have been paramount for these projects, allowing them to build trust with the community.

Community-Driven Crypto Projects Thriving Despite Headwinds

The Launch of ARB Token

The highly anticipated launch and airdrop of Arbitrum’s native governance token ARB took place on March 23, creating a buzz around the layer-2 protocol as hundreds of thousands of eligible users and DAOs tried to claim the token. Overwhelming user demand led the airdrop claim page to crash shortly after its launch, displaying 404 and 429 errors for over an hour, Cointelegraph reported.

Value Of Community Engagement

Since Arbitrum was one of the largest blockchain projects without a token, the hype around its drop was expected. Nevertheless, it exemplifies how community-driven projects in the space can still thrive, despite competitors, technical challenges, market downturns and regulatory uncertainty.

Core DAO Airdrop

In February, the token distribution of the layer-1 protocol Core DAO followed a similar engagement recipe, with 1.2 million tokens airdropped to individual users. Even before its mainnet launch, the project had over 1.6 million Twitter followers and over 215,000 Discord members.

Transparency & Inclusion

“From the start, community ownership and inclusion was a major goal,” Core DAO contributor Brendon Sedo told Cointelegraph. “Transparency is another key for our community. Too many projects keep the curtain closed on their progress and development. We’ve made it a priority to distribute information across a variety of platforms.”