Arena-Z

A 2024 airdrop was tied to the testnet launch and offered $50,000 in prizes, according to Bitrue. Participants signed up with Google, X or a wallet, completed missions and earned free AZ points, which determined their leaderboard rank. No conversion rate from points to tokens is published in our results.

The Arena is a different project and the confusion is common. Arena, formerly Stars Arena, is an Avalanche SocialFi app whose token is $ARENA, and its points were redeemed for it: one source says each user would receive 69 $ARENA per airdrop point earned, and that only 10% of all airdropped $ARENA was distributed initially. That is covered on its own page and has no connection to Arena-Z.

Prize-based leaderboard campaigns are a different animal from token airdrops. A leaderboard rewards the top few, so most participants earn nothing, and the prizes are paid from a fixed budget regardless of how many people take part. The more people compete, the smaller the average prize.

A 39% community allocation sounds generous. As always, the schedule matters more than the headline, because tokens released over many years behave differently from tokens released at once.