Cesto

Points come from the value of baskets you hold, how long you hold them, social tasks and multipliers on certain baskets. The more value you keep in baskets, and the longer, the more points you earn.

The most striking detail is the team's own statement. Airdrops.io reports the team said "no token, only love", and lists the allocation as to be announced. Bittime says there is no official token, no token generation schedule and no confirmed allocation. A points campaign without a token is possible, since points can be used to give discounts, access or other perks, but it is not a promise of a token.

That makes Cesto an unusually clear example of why points are not airdrops. If the team says there is no token, the points can only ever be worth what the platform decides to give for them. Treat the programme as a loyalty scheme.

Holding basket tokens carries ordinary market risk. The assets inside a basket can fall, and the tokenised versions can trade at a discount or premium to what they represent.

Tokenised baskets sit between a fund and a token, and the details of the structure matter. Who holds the underlying assets, whether a basket token can always be redeemed for them and what fees are charged on creation and redemption all determine whether the token tracks its theme closely. If those answers are unclear on the app or in its documentation, the basket may trade away from the value of its contents.

For a platform that says it has no token, the quality of those basics is the whole product.