Dragonfly proposes a "holder score" system to reform the airdrop model.

Haseeb Qureshi, managing partner at Dragonfly, proposed a "reputation score" system to allocate tokens through airdrops more fairly and eliminate the issue of airdrop farmers dumping immediately after receiving tokens.

In the post on September 15th on X, he compared token allocation to how IPOs are distributed: large institutions like BlackRock often receive preferential pricing due to their long-term holding history, while retail investors have to buy at market price due to unpredictable behavior.

Qureshi calls for the establishment of a "holder score" – a set of criteria to monitor holding behavior, governance participation, fee spending, liquidity provision, and product usage. This score can be made public in JSON format for multiple projects to reference when deciding on allocations.

According to him, this creates an incentive for users to commit long-term, while also limiting airdrop "helicopter money" which only promotes fake activities and disappears after the token is launched.

Qureshi also recommends that only under 15% of the total supply should be allocated for free airdrops, with the remaining sold through a crowdsale based on reputation scores. Those with higher scores get to buy more at a lower price, while short-term "farmers" will have to pay full price or not participate.

According to him, this method not only creates a sustainable holder foundation but also has a natural sybil resistance because the cost of setting up thousands of farmer accounts becomes too high.