💸 Airdrops - Are they dead? 💸

History
Airdrops first went mainstream in 2020, when Uniswap distributed 400 UNI to every wallet that had interacted with its platform. This strategy was designed to drive adoption by giving users a financial stake in the project, and it worked — other projects quickly adopted the model, and airdrops rapidly became an expectation within the DeFi community.

Current Landscape
▫️ Nowdays, airdrops have led to unintended consequences such as "airdrop farming," where users exploit token giveaways for short-term gains without long-term engagement.
▫️ This has resulted in declining user activity and token value, a striking example being the unsuccessful airdrop of Blast.
▫️ Instead of retaining users, airdrops are hunted by users that collect rewards before quickly exiting in search of the next opportunity.
▫️ According to CoinMetrics, 65% of all airdropped tokens have lost value since their release.

The bad example of Blast
▪️ In June, Blast distributed 17 billion BLAST tokens to early adopters, hoping to attract users and capital.
▪️ On-chain data depicted a significant number of users leaving Blast after collecting their rewards.
▪️ The token price dropped by 20% triggered by a huge sell-off.
▪️ The sentiment and intention of the community was evident before the actual airdrop even occurred as the TVL was declining in the month leading up to the airdrop.
▪️ Users that had qualified for the airdropped started withdrawing their capital and moving to the next opportunity.

Future
Nobody knows what the future holds, it is certain however that the strategy lies in creating long-term, value-driven ecosystems, rewarding consistent participation and meaningful contributions. Fleeting financial incentives were found to be an inadequate method for aligning the incentives of stakeholders. Understandably, drawbacks are part of the journey and different strategies will be tried and fail in the name of innovation.

The question that remains is will airdrops find their fit or will the web3 community develop a novel solution for token distribution?

🔥Have a great weekend ahead, stay safe and don't forget to buckle up; the cryptoverse is on the rise🔥

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🚀 Ready to Launch Your Token in 2024?

Join our free workshop next week with Web3 legal expert Janina Pietrowska to learn everything you need to know about planning your Token Generation Event from a legal perspective! ⚖️

We’ll cover:
🔵 How to choose the right jurisdiction
🔵 MiCA rules and Whitepaper requirements
🔵 Key compliance documents for a smooth token launch

⏰ When: September 26th, 17:00 CET
🖥 Where: Zoom & YouTube

👇 Register now to join the event in zoom to ask your questions live and get exclusive free templates + free legal consultation specific to your startups’ case

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The Rise and Fall of FriendTech: A Cautionary Tale for Web3 Developers

🟢 FriendTech, once a SocialFi sensation in the Web3 space, soared to prominence after its August 2023 launch on Base, allowing users to trade "keys" linked to influencers. Keys allowed users to engage in private chats with creators/influencers, introducing a new way of monetizing your audience.

🟢Fueled by speculative hype, airdrop rumors, and backing from venture capital giant Paradigm, it rapidly grew to over 910,000 users. However, its reliance on speculation, volatile tokenomics, and stagnant product development led to a rapid decline. What started as a novel socialfi project became a trading casino of unsustainable growth, leading to a plateau of prices and a decline in user activity.

🟢FriendTech tried to escape the stagnant trap that had led itself to by introducing V2. The introduction of V2, which added "Clubs"—paywalled chatrooms for topics instead of individual creators—flopped. The competitor landscaped outpaced FriendTech in innovation and hype was lost once again.

🟢A botched airdrop, platform stagnation, and internal conflicts with Base further alienated users. By mid-2024, FriendTech’s user base had all but disappeared, and the developers abandoned the project.

🟢On September 8th,2024 the devs of FriendTech gave up control over its smart contracts, moving them to a zero Ethereum address and abandoning the project.

🟢Its rise and fall offer valuable lessons on the dangers of hype, the importance of continuous innovation, and the need for building genuine community trust in Web3 projects.

🔥Have a great weekend ahead, stay safe and don't forget to buckle up; the cryptoverse is on the rise🔥

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📢 Ready to Pitch Your Web3 Startup to Top Web3 VCs?

InnMind is kicking off its Autumn Edition of the Online Crypto VC Pitching Sessions, and we’re looking for the brightest builders to showcase their projects to the leading web3 investors! 🚀

⚡️More than 20 quality introductions were already made since the last VC Pitching Session between participating startups & VCs

Criteria for startups:
➡️ Verticals: Decentralized Infrastructure | DePin | BTC | Web3 Cloud | DeFi | SocialFi & Gaming | NFT | RWA, and more.
➡️ Stage: Pre-seed / Seed / Private / Series A

This is a fast-track opportunity to get real feedback from investors, build connections, secure direct introductions with VCs and accelerate your funding round💡

⏩ Apply now and pass the pre-selection process to participate.

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🚀Missed Our Latest VC Crypto Pitching Session? Watch the Replay Now! 🎥

Last week, we saw some of the most innovative Web3 and AI startups pitch their projects to top VCs and investors. 💡 From real estate tokenization to decentralized AI, the session was packed with valuable insights and takeaways for any founder preparing their own pitch.

If you’re looking to learn from the best and see what works when pitching to investors, don’t miss the chance to watch the recording 📺

➕ Sign up on the InnMind platform to apply for the next pitching sessions.

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🪦 The Era of Dead Tokens

As usual in the end of work week, here is a stuff from our Investment Analysts.

In August, the $RARE token, despite its market cap of $130.72M, saw an impressive $1.77B trading volume on Binance and Bybit futures. This surge followed Binance’s announcement of futures trading for the token.

The project, a 2021 NFT marketplace, has experienced a sharp decline. The token has plummeted 95.07% from its October 2021 all-time high of $3.79, now standing 20 times lower.

🗓 In July 2024, the platform’s trading volume totaled just $0.7M, and the DAO’s revenue reached a modest $65K. Yet, $RARE remains a hot topic in the trading community, driven by market makers and short-sellers, despite the NFT market's evident decline.

Welcome to the era of dead tokens. As Solana meme coins faded from the spotlight, capital battles shifted first to new low float/high FDV listings in 2024, and now traders are dabbling in the speculative trading of dead tokens like $RARE.

Have a great weekend and stay safe 😉

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Get Loans From Marsbase 💲

Here is a great news for investors & founders from Marsbase, the first aggregator of web3 secondary markets for SAFT/SAFE, RWA.

📢 Now you can get instant loans using your locked SAFE/SAFT/RWA as collateral

Would your assets qualify for a loan❓
📞 Schedule a call to find out & get more details

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⏰ Set up reminder for Online Crypto Pitching Session that will be streamed today at 15:00 CEST on YouTube and LinkedIn

Meet our participants:

▪️friendo.cash | SocialFi + Banking

The world’s first Money Affiliated Network, allows users to earn from their friends’ transactions and generate lifelong passive income. Friendo.cash is redefining banking by creating a platform that seamlessly integrates social connections and financial services.

▪️LiveArt | ArtFi, RWA

The world’s largest multi-chain ArtFi ecosystem, LiveArt is bringing the $2 Trillion art asset class to global crypto audiences through the world's largest multi-chain launchpad for iconic Artists.

▪️OOOO | Infra

The first modular omnichain interoperability protocol that powers multichain applications, bridging blockchain networks and integrating all liquidity.

▪️RapidNode | Node Management

A no-code blockchain infrastructure management platform that leverages an automated orchestration layer built on top of DePIN to simplify the management, deployment, and monitoring of blockchain nodes.

▪️Mahjong Stars | GameFi

A crypto mahjong social gaming platform that is using an AI hybrid system to allow for each player to train multiple AI players to play for them based on their gaming style.

Confirmed VCs and guests:

Big Brain Holdings | Polygon Ventures | Presto Labs | Varys Capital | Aquanow | Fusion7 | Mars DAO | Momentum6 | Asva Ventures | Paper Ventures | Webwise VC | X Ventures | DWF Labs | 3X Capital | DIB Ventures | Foundersheads | Chain Capital | Jets Capital | Ceras Ventures | Cryptomeria Capital | Bitget

See you soon!🦄

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A reminder on how memecoins work

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Need inspiration (or motivation) for a pivot?

Check this table with some of the most notable startup pivots of all time 👆

Source

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☄️ EigenLayer getting exposed!

Allegations of insider trading by the EigenLayer team are circulating due to significant token airdrops by projects to employees of Eigen Labs.

🔎 CoinDesk's analysis revealed that each Eigen Labs employee received 46,512 ALT, 10,490.9 ETHFI, and 66,667 REZ from AltLayer, EtherFi, and Renzo, valued at $30,000, $80,000, and $16,666 at peak prices.

On-chain records show that employees claimed a total of 487,928 ETHFI ($3.5M), 1,733,342 REZ ($433,300), and 1,539,563 ALT ($1.02M) between January and June 2024.

The controversy hinges on the question of whether these airdrops created a conflict of interest. EigenLayer is a foundational platform within the Ethereum ecosystem, and its influence on the success or failure of projects within its ecosystem is significant.

In response to the growing concerns, Eigen Labs changed their policies, banning airdrops to employees and introduced stricter guidelines preventing employees from influencing transactions for personal gain.

📉 Despite the response from Eigen Labs, the restaking protocol suffered a decline in TVL from $12.65B to $12.30B depicted on the chart on defi llama.

🔥Have a great weekend, stay safe and don't forget to buckle up; the cryptoverse is on the rise🔥

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💥 Boba Liftoff Accelerator Opportunity for Web3 Startups

One more opportunity to boost your web3 project from InnMind partners. ⚡️ Brinc is an accelerator with a lot of investment opportunities for startups:

$35k in Grants ➕ BD & Investor Connections

The Boba Liftoff Accelerator supports founders in migrating to the Boba Network, an efficient layer 2 solution that offers startups affordable building costs, lower transaction fees, enhanced computational power through hybrid computing, and improved withdrawal times compared to other chains.

In collaboration with Brinc, the Boba Ignition Accelerator aims to identify, and mentor leading Web3 startups in scaling DeFi, real-world assets (RWA), and gaming projects. All successful applicants will receive a portion of the $1 Million program allocation, comprehensive technical support, and strategic business development resources.

✅ Enjoy grants & investments, EVM compatibility, tailored mentorship and global network access.

Applications are open now! 🔗 Apply here: brinc.io/boba-liftoff/

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💎 8 Must-Attend Web3 Events for Startups, VCs, and Crypto Enthusiasts

Summer might be winding down, but there’s still time to dive into some of the most promising Web3 events:

August Events:
🔹 22.08: Pitch Perfect – Join InnMind’s Head of Investment Analysis for a weekly pitch revision & feedback session. Register here.

🔹 28.08: Online Crypto VC Pitching Session – Connect with VCs and pitch your Web3 startup in this regular online meeting. Sign up now.

🔹 28.08-29.08: WebX 2024 – Asia’s leading Web3 conference. Learn more.

Upcoming Autumn Events:

🔸 25.09-26.09: European Blockchain Convention – Europe’s most influential blockchain event. Find out more.

🔸 10.10-12.10: Crypto Fest 2024: Cryptopia – Experience the 6th edition of Crypto Fest, a must-attend for enthusiasts. Get details.

🔸 22.10-23.10: Blockchain Life 2024 – Join the world’s leading crypto forum in Dubai. Register here.

🔸 20.11: Blockchain Africa Conference 2024 – Don’t miss the 10th edition with top industry leaders. Learn more.

🔸 23.11-24.11: Australian Crypto Convention – The largest crypto and blockchain event in Australia and the Southern Hemisphere. Sign up here.

🌐 Stay Updated: Get more event announcements on the InnMind calendar.

Join the InnMind platform for access to our knowledge base, exclusive perks, and events. Don’t miss out!

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☝️Remember one crucial thing:
Market cyclicality

After every BTC halving, it typically takes about six months to enter a full-fledged bull market.

Corrections are inevitable, they’re normal

Who’s manipulating the market? Why is BTC dumping again?

🧵: Here’s an interesting X thread by KingWilliamDefi about what’s coming next

Stay bullish!

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Friends! We were supporting your fundraising, traction & Product Hunt launches for years.

Now it’s time to ask for your help & support.

Today is the first time we’re launching our own project — AlphaMind — on Product Hunt. A Web3 launchpad proudly built by our team at InnMind.

AlphaMind is more than just a launchpad; it’s a 0-to-1 web3 project discovery platform designed to empower crypto startups with community-driven launches.

No BS. No flippers mindset. No madness in conditions & onboarding rules.

Fair. Transparent. Efficient.

Like we always are.

How you can help:

1️⃣ Upvote AlphaMind on Product Hunt to boost our visibility and credibility.

2️⃣ Leave a comment to share your thoughts on how AlphaMind can impact the Web3 landscape.

3️⃣ Spread the word within your networks—every vote counts.

Thanks so much in advance for taking this small effort that will bring huge result! 🙏🫶

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🎥 Save the date: InnMind Web3 VC Pitching Session!

Join us on September 25th at 15:00 CET for a front-row seat to the InnMind Online Pitching Session. Whether you're a founder or just curious, this is your chance to learn from top Web3 startups as they pitch to investors. 🚀

Some of the confirmed VCs include:
✅ 3X Capital | Gate Labs | CLS | Webwise VC | Majinx VC | Brinc | MEXC Ventures and others!

📺 Catch the livestream on YouTube & LinkedIn.
💡 Don't miss a chance to apply and get a chance to be selected for a pitch.

💡 Don’t miss this opportunity to see what investors are looking for in today’s market!

Читать полностью…

🔝 Top 10 Quest Platforms for Crypto Marketing in 2024

In 2024, quest platforms are a must for driving growth and engagement in the Web3 space. These platforms let you gamify tasks, reward users with tokens, NFTs, and other assets, and build a loyal community around your project. 🎮✨

We've reviewed the top 10 quest platforms that can help you scale your crypto marketing efforts and foster real community engagement.

🔍 Explore the full review here

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🚀 InnMind’s Free Workshop: Launching a Compliant Utility Token in 2024

Are you finally launching your TGE in the next months after a long crypto winter? 🌍
Join InnMind's free workshop with Janina Pietrowska, one of the leading web3 lawyers & legal advisors since 2017 with over 100 Web3 projects in her success cases portfolio.

What you’ll learn:
📌 Key steps to launching a compliant utility token
📌 How to navigate the regulatory landscape in 2024
📌 Which jurisdiction to choose
📌 Get your questions answered live by Janina!

⏰ When: September 26th 17:00 CET
🖥 Where: Zoom & YouTube Livestream

👇 Apply to join the workshop in zoom to ask questions related to your specific startup case and get extra materials & legal templates for free!

🔗 Sign up here

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Polygon and the big revamp!

After a year of extensive community discussions, Polygon developers announced that the migration of MATIC to POL is starting September 4th.

The introduction of POL plays a crucial role for the project's transition into a ZK chain and its integration with AggLayer, which aims to consolidate liquidity and state across multiple chains.

The upgraded POL token will have expanded functionalities in the future, including roles in block production, zero-knowledge proof generation, and participation in Data Availability Committees (DACs).

It is evident that Polygon’s main catalyst for revamping is the introduction of AggLayer!

Similar to the arrival of TCP/IP in the 80s, which created a seamlessly unified Internet; AggLayer, unites a divided blockchain landscape into a web of ZK-secured L1 and L2 chains that feels like a single chain. 

To achieve seamless transactions between different chains and rollups, the aggregation layer has three key design components:
- Proof Generation
- Optimistic Batch Confirmation
- Atomic Cross-Chain Interaction

As of now, 10 well-funded projects are integrated with Polygon’s AggLayer, Ronin, TON, X-layer and Movement Labs to name a few. With the help of these projects being part of it, AggLayer is planning to become an essential point on every infrastructure project's roadmap, thus attracting more partners/projects and hopefully being able to solve true pain points that are hindering the growth and mass-adoption of the industry.

🔥Have a great weekend ahead, stay safe and don't forget to buckle up; the cryptoverse is on the rise🔥

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🔎 Top 10 Web3 Accelerators You Should Know About

Chasing capital alone isn’t the recipe for a startup’s success. What really matters is having access to the right resources, mentorship, and networks.

In our latest article, we’ve put together a list of the 10 best Web3 accelerators for early-stage startups—ecosystems designed to help projects grow into the next unicorn. Each of these accelerators has a track record of successful projects and well-known stories behind them. 🤩

👉 Explore the list and find the accelerator that can take your startup to the next level.

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☑️ PR Hacks for Web3 Startups

How to pitch your startup to journalists and make a loud PR for your funding round or product launch❓

We got it covered with the first-hand insights from ex-Cointelegraph CEO Victoria Vaughan.

Victoria makes PR campaigns for the top crypto companies, incl. Animoca Brands, Polygon, Yield.app, Shopping.io, Gate.io, Republic and others. She is a regular speaker at the top industry events such as Eth Denver, NFT.NYC, Dcentral, Web3 Summit Miami 🤩

🎙 She shared her decade-long experience and invaluable insights into developing effective PR strategies, engaging with journalists, and leveraging partnerships for growth with InnMind community on the workshop.

▶️ Watch the record here

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⚡️ Short reminder about start of Crypto VC Pitching Session in 15 minutes

▶️ Join YouTube stream
▶️ Watch in LinkedIn

Join the stream to learn new and promising startups. Feel free to communicate and ask questions in the comments.

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❓ Why retail investors should choose launchpads

For web3 entrepreneurs and investors navigating the volatile crypto landscape, launchpads offer a beacon of stability with benefits:
➕ Early Access
➕ Lower Risk
➕ Community Engagement

📌 Unlike the unpredictable world of altcoin trading, launchpads provide a structured approach to investing in promising projects.

▶️ Learn why launchpads might be a smarter strategy for retail investors and what disadvantages they have in our new article.

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When in Kazakhstan: Ministers give you a tour, $TON moons, and you’re treated like Royal fam.

When in Dubai: Sheikhs buy your bonds, you live the high life, and the office chairs have gold trim.

When in France: They treat you to baguettes… in prison. $TON crashes like my faith in French hospitality.

🇫🇷France: Where you can drop your croissant, your freedom and your crypto in the same day. 🤯

Your thoughts?

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🦄Gem Alert: friendo.cash

Introducing you the gem on InnMind’s radar - friendo.cash, the world’s first Money Affiliated Network, where your social connections can now generate lifelong passive income.

Imagine earning passive income just by being part of a community.

With friendo.cash, your connections aren’t just friends — they’re assets.

📈 why it’s for you?
- Access to savings accounts, loans, and advanced financial tools.
- Easy crypto purchases directly from your account.
- Earn from friends’ transactions through friendo.cash’s innovative socialfi feature.
- Build your on-chain social network, receive cashback in native cryptocurrency, and turn your network into a passive income stream.

🔒 Powered by the UAPAY Team
- One of Ukraine's top payment institutions with 5.8M unique clients and over €1.19B in transactions.

Take the first step to monetize your social circle!

Claim Your $FRIENDO Now!

https://x.com/friendocash/status/1826150307799396450?s=46&t=ZxBVwu_qegwEDbXdhwc5_Q

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An interesting fundraising thread from Hustle Fund co-founder 💬

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🚀 T-LAB CONF: Unveiling the Future of the Telegram, TON, and Mini App Ecosystem

This Friday, August 23rd, some of the brightest minds in the Web3 and Telegram ecosystem are gathering at T-LAB CONF, the premier conference dedicated to exploring the rapidly evolving Telegram, TON, and Mini App landscape.

Why You Should Care:
The event is packed with insights from industry leaders who are shaping the future of Telegram and TON. Whether you’re a developer, investor, or entrepreneur, this conference is a golden opportunity to dive deep into emerging trends and investment strategies that could define the next wave of innovation.

🌐 What’s On the Agenda:

🔹 Web3 Stage: Explore the TON blockchain’s potential and the development of mini-apps within Telegram.
🔹 Investment Pitches: Discover some of the most promising Telegram projects.
🔹 Networking: Connect with key players, enjoy a business dinner with the speakers, and unwind at the afterparty.
🔹 This isn’t just another conference—it’s a chance to align with the latest trends in the Telegram and Web3 space.

🎟Get your ticket now: https://tlabconf.com (Use “InnMind” code to get 30% off)

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🚀 Unlocking the Power of Launchpads for Retail Investors

Navigating the volatile crypto market can be a challenge, especially with global events causing unpredictable shifts. But there’s a more sustainable and fair way to gain in crypto: launchpads.

🔎 In our latest article, we dive into how launchpads work from the retail perspective, the benefits they offer, and the challenges you need to be aware of.

💎 Plus, discover three emerging launchpads where early entry is still possible — and why this strategy could be a smarter move for retail investors.

👉 Read the full article here 👀

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🔮 The Future of Web3 Digital Media: Key Insights for Founders

If you’re building in Web3, staying ahead of the curve is crucial. Safary, the team rebuilding Google Analytics for Web3, just released a powerful report dissecting the marketing growth, social trends, and analytics landscape that could define the next phase of Web3.

💡 Why You Should Care:

Right now, over 160 companies are shaping this emerging industry, with 101 startups raising nearly $1 billion in funding. Safary breaks down these companies by category, uncovering the challenges and opportunities that lie ahead. That's why this report attracted our attention: the Safary team gives this food for thought for web3 founders showcasing problems in each category and offering ideas to solve them.

📊 Key Takeaways:

- Loyalty Programs: The number of teams in this space has shrunk from 40+ to just 18. Is your approach to customer loyalty built to last?

- Affiliate & Referral Models: Even the big players are struggling, with two major companies recently closing their doors. What’s the flaw in the current model, and how can you avoid it?

- Strategic Shifts: Safary suggests rethinking your referral strategies—ditch the small rewards for a more targeted, high-impact approach.

🔥 Why This Matters:

Web3 is all about community and innovation. This report isn’t just a status update; it’s a call to action. Founders who adapt to these insights will be the ones leading the charge in creating more engaging, resilient, and innovative Web3 ecosystems.

💬 Join the Conversation: What do you think? Are loyalty programs and referral strategies due for a shake-up? Share your thoughts in the comments! 👇

🌐 Ready to dive deeper? Check out the full report and equip yourself with the knowledge to shape the future of Web3. ▶️ Read the full report

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🔥 AlphaMind is now live on Product Hunt! 🔥

👉 Share your support: upvote & comment here

AlphaMind.co is more than just a launchpad—it’s a revolution in Web3 projects launches.

Powered by our unique Karma System, we ensure your contributions are recognized and rewarded, giving you early access to the premium token launches, rewards, airdrop allocations and more. Built by the trusted InnMind network!

🔥 What You Can Do to Support Us:

Upvote AlphaMind, leave your honest feedback and
Share our launch with your network to spread the word!

💬 Maker’s Comment: "We're excited to introduce AlphaMind, a launchpad where the community truly has a voice. Join us in shaping the future of Web3—where your engagement drives success and earns you rewards."

Thank you for being an integral part of the powerful AlphaMind community! 🌟

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