Kain (Infinex founder) is complaining about the predatory economics of airdrops.
airdrops leveled the playing field between founders/VCs and retail. Before airdrops, 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 $1.8 billion in the last round and has a current FDV of less than $200 million, an 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.
Airdrops have devolved into a protection racket this cycle. “Nice project you’ve got there, it’d be a damn shame if it burned down.” This is not even a criticism, it’s just reality. Which means as a founder you need to understand the game you are playing.
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