DeBank is a dashboard for tracking your DeFi portfolio, with data and analytics for decentralized lending protocols, stablecoins, margin trading platforms, and DEXes.
Rumors have been circulating about the dAPP launching its token and that it could airdrop it to early adopters. While I can't guarantee what will happen, some hints seem to make me think that DeBank is leaning toward this way.
From my perspective, DeBank is likely to release its token because of the features I have been seeing on the platform. One of these features is a decentralized social network that enables users to interact and discuss diverse topics.
Decentralized social platforms offer an improved monetization framework for content creators via non-fungible tokens (NFTs), in-app crypto payments, and more.
Users on DeBank are already getting rewards for sharing content as you can see below. So I think it makes more sense to see Debank launching its token and using it as an in-app crypto reward.
Anyone can use the social media feature on DeBank, but you will be limited from doing certain actions like reposting unless you mint a Web3 ID. You can think of DeBank Web3 ID as the Ethereum Name Service (ENS). An ID will enable you to create a unique name that will be tied to your address. You could also add a profile picture to your account.
I guess if DeBank is to airdrop its token to users, those with a web3 ID will have more chances to be recipients. The top 50,000 users in their Web3 Social Ranking can mint for free; the rest need to pay $96. That will make more sense because a user with an ID is viewed as more supportive of the platform than a user without one.
In case, you didn't know, DeBank has also paid features that give subscribers more perks. Bulk subscribers with a Web3 ID will get a VIP label attached to their name. Looks like Web3 ID users are getting all the attention of DeBank right now. Not financial advice, but I think getting an ID if you can afford it could be what you need to increase your chance of being one of the airdrop recipients. Of course, if they do have one.
Decentralized social platforms are already seen as one of the crypto niches that could see more growth in years to come. Some platforms like Steemit, Publish0x, or Minds have gained popularity among users.
I could see DeBank among the top platforms as they have been in crypto long enough and have had loyal users since then.
In December 2021, DeBank was able to raise $25 million from well-established investors like Coinbase Venture and Circle.
