ParaSwap aggregates decentralized exchanges and other DeFi services in one comprehensive interface to streamline and facilitate users' interactions with decentralized finance on Ethereum. ParaSwap is a middleware streamlining user's interactions with various DeFi services. It gathers liquidity from the main decentralized exchanges together in a convenient interface abstracting most of the swaps' complexity to make it convenient and accessible for end-users. ParaSwap can be used directly, through the ParaSwap website, or integrated into other decentralized applications

Similar to Ethereum Name Service, ParaSwap decided to launch its governance token. Previous users of Paraswap were eligible based on a complex formula to prevent a Sybil attack to Farm the Tokens. What happened to PSP tokens after its launch. This will be looked into in this dash.

The PSP token was airdropped via the Distributor Contract - 0x090e53c44e8a9b6b1bca800e881455b921aec420. Further, tracking the interaction with the contract of the token - 0xcafe001067cdef266afb7eb5a286dcfd277f3de5 , we can use the function called to identify the transaction type.

Most of the users who were airdropped PSP tokens have either HOLDed them or Staked them. Very few user have sold or added mainnet liquidity

This suggesting most users are having trust in the protocol. Esp given that gas prices have been making Lower Lows over the past few months. This could be a result of Paraswap's stringent airdrop address selection.

So how long has an user HODLed PSP token, recieved either via airdrop or bought on the secondary market.

The hold duration is taken as Hours. The token was launched 6 months ago (as on December 10,2021). Which is 175 days. This means mojority of the paper hand sells took place in the first week (within 7 days). A user having 100+ days can be considered as a Diamond Hand here as they have held the token through multiple dips and have continued to HOLD as of May 2022.

Paraswaps methodology of picking users to recieve Airdrops has probably worked wonders. The timing of the air drop meant, the Token has suffered massively has dropped 95% from its ATH. Yet with a good chunk of the token being Staked and Users HOLDING it, the token distribution was a effective one.