Layer-1 (L1) blockchain Monad has lately opened a portal for customers to say the airdrop for its native MON token, with the claiming interval set to finish on November 3. Nevertheless, the announcement has sparked vital criticism inside the crypto neighborhood. 

Many customers, significantly these on social media platform X (previously Twitter), have voiced issues that the factors for eligibility haven’t aligned with the developments, leaving a number of merchants, together with these from Hyperliquid (HYPE), ineligible for the airdrop.

Hyperliquid And HypurrNFT Customers Left In The Lurch

On the time of the announcement, it was said that customers of Hyperliquid, Phantom perps, and holders of HypurrNFT can be eligible to obtain the MON airdrop. 

Regardless of this, experiences point out that only a few HypurrNFT holders qualify, with some customers claiming that their substantial buying and selling volumes—over 200 million on perps—didn’t meet the eligibility necessities. 

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These frustrations have led to feedback comparable to, “this airdrop is a joke,” highlighting the disconnect between the expectations set by Monad and the truth confronted by its neighborhood.

In response to the outlined standards, Monad plans to distribute tokens to over 235,500 customers, together with lively neighborhood members who’ve persistently supported the undertaking on social media and engaged in varied initiatives. 

The standards additionally embody merchants with excessive buying and selling volumes on decentralized exchanges like Hyperliquid, long-term holders of well-liked NFTs (comparable to CryptoPunks and Pudgy Penguins), individuals in DAO voting on Ethereum-based platforms, contributors to ecosystem improvement by means of varied roles, and builders actively creating merchandise on Monad and taking part in undertaking hackathons.

Critics Query Monad’s Dedication To Customers

Critics, together with DeFi researcher Coin Metrika, have sharply criticized Monad’s airdrop technique. Metrika identified that the printed eligibility standards shocked many inside the crypto neighborhood, revealing that solely 5,500 wallets are thought-about eligible—representing simply 0.74% of Monad’s Discord customers. 

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In the meantime, the undertaking is distributing airdrops to 225,000 addresses exterior of its neighborhood, lots of whom could not even pay attention to Monad or the approaching declare deadline. In a sarcastic commentary, Coin Metrika summarized the scenario, stating:

If you happen to haven’t figured it out but, right here’s a abstract of #MonadAirdrop standards: You will have roles in Discord which are troublesome to acquire—thanks, we’re not all in favour of you since you’re poor! You participated in our testnet—thanks for serving to us take a look at the product free of charge, which we offered to traders for some huge cash. Dressed up in clown costumes and shot viral movies to advertise the @monad model—thanks, we laughed out loud at you. You will have cash that you just’ve proven on the blockchain—let’s be mates, right here’s your airdrop!

This highlights the growing dissatisfaction inside the Hyperliquid, HypurrNFT and wider crypto communities relating to how Monad has dealt with its airdrop initiative, elevating questions on its dedication to its customers.

On the time of writing, HYPE trades at $39, recording losses of 13% over the previous seven days. 

Featured picture from DALL-E, chart from TradingView.com