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The Memecoin for Crypto's Builders

Hands-on with Base's $BUILD
William M. Peaster William M. Peaster May 28, 20243 min read
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The Memecoin for Crypto's Builders

BUILD is a token of appreciation on Base, crafted as the center of a simple social game that rewards onchain builders through peer nominations.

The idea? To recognize and celebrate the contributions of talented individuals around the Ethereum ecosystem with a dedicated builders memecoin!

The operation of BUILD is straightforward and revolves around a daily nomination system. In other words, each participant in the game receives a daily budget of BUILD points. These points can be allocated to nominate up to three builders every day. The amount of points each player can distribute is determined by their Builder Score, which reflects their contributions and reputation. When a player nominates a builder, 90% of their daily budget is transferred to the nominee, while the nominator retains 10% as a reward.

This mechanism ensures that recognizing others also benefits the person making the nominations, creating a cycle of mutual appreciation.

At the end of the Airdrop 1 campaign, scheduled for June 2024, the BUILD points accumulated by participants will be converted into $BUILD tokens. These tokens, which are ERC20s on Base, can then be traded on exchanges like Uniswap. If you’re interested in participating in BUILD, you’ll need to create a Talent Passport. You can link out to the onboarding interface through the My Stats dashboard on build.top.

Created by the Talent Protocol team, this onchain resume verifies various contributions and is the foundation for your Builder Score, which defines your daily BUILD nomination budget.

Once you have your Talent Passport, you can search for builders on build.top using their Farcaster or Talent Protocol profiles and nominate up to three different builders each day by pressing the “Nominate” button next to your desired picks.

Note: you can only nominate each builder once throughout the campaign. If you need help finding top builders, BUILD’s Leaderboard page makes it easy to surface contributors with many nominations.

Remember, each nomination will reward that builder with $BUILD and provide you with a portion of your daily points budget. After the conclusion of the Airdrop 1 campaign in June, participants will be able to claim their $BUILD tokens based on the BUILD points they’ve accrued from nominations or by nominating. Just remember that to be eligible for claiming, you’ll need to have an ENS or Farcaster account that was registered before May 15th, 2024. Once claimed, the tokens can then be managed and traded freely.

Zooming out, BUILD is interesting because it invites everyone to participate in a movement to celebrate and reward the builders who are shaping Ethereum’s future. It’s simple, straightforward, and a new incentivized way to recognize the hard work of others here—a true crypto win-win!

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William M. Peaster

Written by William M. Peaster

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William M. Peaster, Senior Writer, has been with Bankless since January 2021. Immersed in Ethereum since 2017, he writes the Metaversal newsletter on the onchain frontier, covering everything from AI projects to crypto games, as the team’s lead NFT analyst. With a background in creative writing, he writes fiction and publishes art on Ethereum in his free time. He lives in Washington.

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