Introduction

    In this Analysis, You will read about TrueFreeze Airdrop. Approximately 230,000 addresses are eligible to claim FRZ. We want to know how many of them claimed their airdrop. Also, After claiming their allotment in the FRZ airdrop, what do participants do with their FRZ tokens?

    Analyzed by Hess - Reading Time Almost 8 min.

    Method

    I’ve read TrueFreeze documents and found their contract address which is 0x55b1e2d8b13e7acad03353fad58fc3fa065c5822. I extracted Tx hashes related to that contract and use ethereum.core.fact_event_logs table with Claimed event name. After that, I looked for the user’s activities after claiming the TrueFreeze token.

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    Airdrop Overview

    • Of 230K eligible addresses, Only 1117 users claimed their airdrop. These users claimed nearly 300K TrueFreeze tokens. The reason is so clear. The amount of airdrop is lower than Ethereum Fees. So users preferred not claiming the Airdrop.

    Claim Overview

    • The Daily chart shows most users claimed their Airdrop at the beginning of the announcement. About 5K unique users claimed their TrueFreeze airdrop on June 29th. To understand better, I drew an hourly chart. Based on that chart, Most users claimed at first hours.
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    FRZ Holders Vs. Non Holders ( Airdrop Users )

    • The top holder from eligible addresses is a wallet that holds 83.5K TrueFreeze. Almost 58% of users hold their airdrop and 41% spend their Airdrop.

    Staked By Airdrop Users

    • About 109 users that claimed TrueFreeze token, Staked their Airdrops. Nearly 575K TrueFreeze tokens were staked by Airdrop users.
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    Transfers by Airdrop Users

    • 62 Unique wallets that claimed the TrueFreeze token, Transferred 533K FRZ.
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    Swaps

    Only 11 Users swapped their Airdrops.

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    • Only 0.48% of eligible users claimed their Airdrop. Also, it is interesting that 57M TrueFreeze tokens are claimed by the TrueFreeze address. The highest amount of Claimed was around 9.5K TrueFreeze tokens.

    Conclusion

    • Airdrop is a great way to engage users. But the Airdrop value should be considered. So many users won’t Claim their airdrops because of Ethereum Gas Fee if The Airdrop is worth almost nothing.

    THANK YOU FOR READING!

    Analyzed by Hess

    Discord: hess#0890 - Twitter: hessaminanloo