Dragonfly managing partner Haseeb Qureshi proposed a reputation system to reward users on token distributions through airdrops.
Qureshi stated:
“It’s crazy that token distributions don’t work this way.”
He advocated for meta-incentives based on users’ historical token behavior rather than platform-specific metrics.
The Dragonfly partner proposed standardized holder scores tracking token retention curves, governance participation, fee spending, liquidity provision, and product usage across multiple protocols.
Projects would publish these scores in JSON format, enabling other teams to incorporate reputation data into distribution decisions.
Qureshi argued that this creates accountability across the ecosystem. Users who know about future airdrops consider their holding history when modifying their behavior toward long-term commitment rather than immediate selling.
Credit bureaus operate similarly, with financial institutions sharing customer data to encourage responsible behavior.
The framework recommended limiting free airdrops to under 15% of total token generation events while selling the majority through score-tiered crowdsales.
Better holder scores receive larger allocations at lower prices, while mercenary farmers pay full price or receive no access.
Qureshi stated that the proposal addresses fundamental airdrop problems by requiring skin in the game. Users paying for tokens create committed holder bases versus recipients of free money seeking immediate exits.
Crowdsales also provide built-in sybil resistance, as creating thousands of farming accounts becomes economically prohibitive.
He acknowledged airdrops remain useful for pay-for-performance scenarios requiring specific measurable activities like total value locked or trading volume.
However, Qureshi concluded that broad “helicopter money” distributions only attract artificial activity that disappears after token launches.
