TL;DR
The BUILD community burned 14.1B $BUILD tokens in Round 2, showcasing their commitment to the project's long-term vision.
Over 90% of Round 2 claimers chose to burn a portion of their tokens, fueling the upcoming Universal Builder Income (UBI) experiment.
BUILD is shifting its focus to UBI, aiming to provide sustainable and recurring support to all builders and attract more talent onchain.
The Round 2 claiming window for $BUILD tokens closed yesterday, September 30th, marking the end of an exciting chapter for the BUILD community. Let's delve into the final data and what lies ahead for BUILD.
BUILD Summer Fund: Distributing 85B $BUILD
The BUILD Summer Fund aimed at distributing 85B $BUILD tokens, donated by the community on Round 1, until the end of September. Check the full BUILD Summer Fund distribution here.
The bigger portion of the fund, 30B $BUILD, were distributed through the Round 2 Airdrop. Additionally, 24B $BUILD were allocated to collaborations with Base, 9B $BUILD fueled the weekly nominations on rounds.wtf, and approximately 2B $BUILD were invested in smaller experiments (castrdop frame, boost.xyz, IRL tipping with NFC cards) and collaborations (Coop Recs, Funding the Commons).
We are excited to announce that the remaining 20B tokens, initially allocated to Talent Protocol and Superchain, will be used to power a Universal Builder Income (UBI) experiment, coming later this year.
The Path Forward: Universal Builder Income
October will be the start of a new journey, as we embark on a major BUILD revamp centered around the concept of Universal Builder Income, coined by Base earlier this summer. BUILD will explore novel approaches to distribute financial incentives efficiently and at scale, empowering more builders to come onchain.
Inspired by Base's pioneering work, BUILD's UBI experiment aims to provide sustainable, recurring, and permissionless support to onchain builders. As I discussed in my recent op-ed on Crypto.News, the web3 ecosystem faces a significant developer shortage, with Web3 developers still roughly 1,000 times fewer than traditional developers. UBI is a crucial tool for ensuring the crypto ecosystem attracts and retains the talent it needs to succeed.
BUILD's UBI experiment will leverage innovative approaches to incentivize and reward builder activity onchain. We believe that by fostering a thriving community of builders, we can unlock the full potential of crypto and create a more equitable and decentralized future.
Stay tuned on Twitter and Farcaster for more updates on BUILD's UBI initiative and the exciting developments on the horizon!
A Quick Recap of Round 2 Claiming
Before we dive into the results, here's a reminder of how the claiming process worked:
30 billion $BUILD tokens were allocated for distribution in Round 2.
To be eligible to claim, builders needed a Talent Passport with a Human Checkmark.
Builders had a choice: claim all their tokens if they believed BUILD should end as a project, or burn 50% or 90% of their tokens to demonstrate support for BUILD's continued growth and contribute to its sustainability.
Round 2 by the Numbers
Only 402 people decided to claim all their tokens, meaning that more than 90% of claimers decided to donate a portion of their tokens.
4.3K builders (17.2% of all people nominated) stepped up to claim their well-deserved rewards.
A total of 6.2B $BUILD tokens were claimed (20.7% of the allocated amount).
An impressive 14.1B $BUILD were burned (47% of the allocated amount), a powerful testament to the community's support for BUILD's continued growth.
9.7B $BUILD remain unclaimed (32.3% of the allocated amount). These tokens will be withdrawn from the smart contract and burned during October.
Community Rewards
All the Round 2 data is in, so it's time to announce the top 10 BUILD Contributors, who will each receive a custom pair of BUILD sneakers!
Top Contributors are calculated based on: amount committed on Round 1 and Round 2 airdrops, Party App participation, LP Rewards and total $BUILD holdings.
Here are the 10 winners:
If you're one of the winners, please look for a DM from @macedo on Farcaster.
Unfortunately, we did not reach the minimum threshold of 15B $BUILD tokens burned by the community to trigger the raffle we had planned. The ETH prize will remain in the BUILD treasury, awaiting future opportunities to reward the community.
Besides sneakers, we will continue to recognize and reward builders in October, with the weekly nomination on rounds.wtf. Simply cast “nom” or "nominate" in the /build channel, and tag the person you want to nominate (only one nom per cast). The person receiving the nomination will be the one earning the reward, not the owner of the cast. All casts liked by curators will share the weekly reward of 200M $BUILD. Currently, the curators are the top 50 $BUILD holders.
Over 90% of Round 2 claimers chose to burn a portion of their tokens! In total, the /build community burned 14.1B $BUILD tokens, showcasing their commitment to the project's long-term vision. What's next? BUILD will transition to a Universal Builder Income (UBI) model, aiming to provide sustainable and recurring support to all builders. https://paragraph.xyz/@macedo/build-log-10
unexpectedly a lot! keep building 🫶
Keep building & burning!
You know, this Build was a colossal bust for me So many other things you had to do for just being able to participate Slow noms slow everything The website won't even connect to wallet using chrome I was committed and put 100% of my earnings for this project I tried to go on I did whatever i could and now I'm not eligible because of a stupid humanity check? What the hell is this? I was human when you asked to help now I'm not human??! It's not surprising that this world is going to shit You know what? I'm done with build, talent and other scams
i'm sorry you feel that way maybe build is not the right project for you
I'm supporting you through /microsub! 16 $DEGEN (Please mute the keyword "ms!t" if you prefer not to see these casts.)
/microsub tip: 21 $DEGEN
I hope the project will give us the opportunity to develop further
nice! were the unclaimed tokens burned as well?
they will be, yes
🫡
I have a suggestion, 30 % should be given to the caster whose cast is liked by curators.
maybe it makes sense to listing $build on hyperliquid?