Penguin Distributor, a Cumulative Airdrops Tool for Protocols
Since the announcement of our Cumulative Merkle Distributor (Penguin Distributor) on March 1st, it has now been used by our partners such as BunnyDucky, Parrot, Port, Shoebill and UncleMine. These first beneficiaries regard this distributor as an advancement for it has made multiple airdrops and rewards issuance easier for protocols and more appealing to recipients. This is precisely the reason why we developed the Penguin Distributor.
The background
Our partners and we have reviewed many airdrop methods to find an optimum one for multiple airdrops and rewards issuance. However, none of which has met our needs.
We have concluded our review in these visuals for busy readers.
In the analysis below, we have airdropped 1000 PRT to 1000 addresses (1 token per address) to test each of these senders (BulkSender, Sentre Bulk Sender, DeCommas Multisender) in the following criteria.
An early approach ( batch transfer via script）:
Pros: Recipient-friendly. Transactions are sent directly to recipients’ wallets, hence claiming is not needed.
Cons: Traditionally, conducting multiple airdrops was time-consuming and prone to errors. According to our partners, this weary process is shared by many since it can take quite a while from generating snapshots of wallet addresses to completing all the transactions even if there is no congestion.
Saber Merkle Distributor Program:
Pros: Cuts down the time required in each airdrop and was then widely adopted by many protocols.
Cons: When conducting multiple airdrops, it features cumbersome operation to protocols for a new Merkle proof has to be generated each time which can lead to high rent. Consequently, in cases where the airdrop amount is minimal, recipients may receive rewards that fail to cover their fees.
Other bulk senders:
Pros: All of them have UI, and they also support batch transfer.
Cons: High transaction fee. One of the bulk senders we used required 10 SOL for airdrop 2000 PRT to 2000 addresses. Other bulk senders are designed for one-time airdrop and we need to start over in our consecutive airdrops. Besides, operation with many bulk senders can be unfriendly to users since faulty inputs such as empty lines have to be manually revised to proceed.
To tackle these issues, we have decided to build a cumulative distributor via modifying Saber’s airdrop scheme.
Using the Penguin Distributor in multiple airdrops
This enhanced distributor features efficient deployment and minimal cost for both protocols and recipients. Moreover, it is free of charge. Only a few steps are needed in initiating the first airdrop, and what is left is to update the wallet address in later airdrops.
The most significant modification is that this distributor cumulates the amount of tokens in each consecutive airdrop so the cumulated rewards can be claimed in batch. Furthermore, it saves time and effort with UI’s instant response and its one-time signature rather than signing hundreds of times in bulk transactions. Last but not least, multiple airdrops can be planned and managed through information such as claim status shown in your distributors.
In our latest test, we have sent BUD tokens to 4427 addresses within 2 minutes with our distributor. Let’s see how it is done.
Penguin Distributor user guide
Go to Penguin’s app and you will be prompted to connect with your Solana wallet. Next, click More on Penguin’s app and choose Distributor in the drop-down list.
Click +New Distributor and then you will see a pop-out box.
Choose a method to input the users’ wallet addresses.
The amount of tokens can be filled in batch using Fill Amount or adjusted individually. (Please note that invalid inputs must be revised or deleted from the table to proceed)
Select the token you wish to transfer and click Submit to finish the transaction. There it is, an airdrop is done.
After this initial airdrop, all you need to do in the consecutive airdrops is to go to your existing distributor and update wallet addresses to complete the transaction.
To claim the airdrop, recipients can simply click Rewards on our app and then Claim their tokens on the next page.
It is simple to monitor the claiming of airdrops throughout the distribution of airdrops to PNGART NFT holders by our partner UncleMine utilizing Penguin Distributor.
To sum up, this distributor tackled the issues addressed in the existing airdrop schemes and made multiple airdrops labour-saving, cost-efficient and user-oriented, and it is now at your service.
Links:
About Penguin Finance:
Penguin is a Liquidity-as-a-Service Platform that offers a one-stop solution for treasury management such as swap, bonding, and staking. A protocol can utilize the bonding service to acquire liquidity instead of renting it. Protocol-owned liquidity can help a protocol survive in the long run by staying with it during a downturn. Instead of fostering short-term involvement, token vesting will allow protocols to match their incentives and communities with their long-term goals.
