To understand the first point of capital efficiency, let’s introduce a new term called the “Witch Coefficient.” It basically calculates how much you'd benefit from splitting a dollar of your money across a certain number of accounts.

Where you fall on this spectrum will ultimately depend on how wasteful your airdrops will become. If your witch coefficient is 1, technically this means you are running a liquidity mining scheme and will piss off a lot of users.However, when you get to something like Celestia where the witch coefficient balloons to 143, this is extremely wasteful.