your regular reminder that this view is total nonsense
sui did no airdrop and everyone claimed it was dead on arrival for this reason
two years later it grew to one of the biggest L1s in the space
kain (infinex founder) is complaining about the predatory economics of airdrops
airdrops levelled the playing field between founders/vcs and retail. before airdrop, retail got completely milked by founders/vcs who bought in at very low cost and then non-stop dumped their tokens and when the bear market started ALL alts went down 90%. founders had a GREAT time in previous cycles and finally crypto is more friendly to users
today in crypto, you NEED to do your airdrop correctly or you risk fading completely into irrelevance and getting fudded into oblivion
my favorite example is SCROLL which raised from polychain at $1.8bil in the last round and has a current fdv of less than $200 mil, a 88% drop. a big reason for that was their jeet airdrop and sandy paid a bitter price and i am EXTREMELY happy about it
kain, i understand you. even if your product is great and you do good honest work, you get slaughtered if you mess up your airdrop. don't complain and accept this new reality. founders had a great time for years, now it's the turn of retail
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