AltLayer’s Executive Quells Community Backlash Over $100 Million Airdrop Distribution
AltLayer’s Executive Quells Neighborhood Backlash Over $100 Million Airdrop Distribution
AltLayer’s Head of Enhance has described occasions leading up to gains by a pair of non-fungible token (NFT) holders as a accident. Moreover, Dorothy known as for added community toughen in due route.
In a reaction to conventional criticism of handling a recent airdrop, the manager took to X (formerly Twitter) to take care of components leading up to the token distribution.
Dear AltLayer community,
I procure it’s gorgeous to speak that I build my heart and soul into creating the OG Badge and Oh Ottie! NFT collections with toughen from our unprecedented vogue designer and tech crew.
As our community would possibly perhaps perhaps perchance moreover know, every NFT collections had been dropped as gorgeous mint and launched… https://t.co/Q5yRburIsy pic.twitter.com/CzeYMQMIzN
— 多多 | Dorothy (@Dorothy_defi) January 26, 2024
Issues raised by the community incorporated unfair distribution of tokens to a selected few. Allegedly, some users got up to $135,000, and accrued big gains from selling NFTs after different.
Dorothy described some occasions as a accident after it used to be alleged that users got a explicit kind of NFT only for different all the plot through the airdrop.
“As our community would possibly perhaps perhaps perchance moreover know, every NFT collections had been dropped as gorgeous mint and launched with future token airdrop two years ago as community engagement actions.”
The platform rolled out Oh Ottie and OG Badge NFTs sooner than the airdrop. Possession of these NFTs used to be extinct as a criterion for distributing rewards.
AltLayer Neighborhood Stories Irregularities with Oh Ottie NFTs
The first say broke when users flagged on-chain transactions on a wallet that got two Oh Ottie NFTs closing year, the first in March and the second in Might perchance presumably perchance unbiased from a wallet linked to Dorothy.
The NFTs held by the user had been listed sooner than the snapshot making them eligible for the airdrop. The take care of bought $135,000 within the airdrop and sold the resources.
Calling that individual say a accident, she added that it would possibly perhaps perhaps perchance perchance no longer be irregular for a dengen provider to steal profits after irregular label swings.
This say used to be further fueled when user @WazzCrypto spotted identical actions with NFT holders who listed their resources sooner than the snapshot but had been unruffled eligible for the airdrop.
“AltLayer OG Badge dropped 70% after the legit snapshot announcement on Twitter. From 7.77 $ETH to 2.3 $ETH in a topic of minutes, a pair of opt out wallets sold these NFTs minutes sooner than the snapshot announcement, and managed to true spacious profits.”
Accusations of Uneven AltLayer Airdrop Distribution
Moreover to these claims, the recurring say of uneven distribution of tokens has been flagged in a total lot of community airdrops within the crypto ecosystem.
AltLayer’s airdrop noticed $100 million worth of resources disbursed to over 550,000 community individuals with a majority of the worth reserved for a pair of based totally on the NFTs held.
The wonderful class has 467,000 users who bought 111 million Alt tokens shortlisted from individuals within the Altitude Advertising and marketing and marketing campaign.
The following community comprised 95,000 users who previously staked TIA tokens and bought 30 million Alt tokens. Other groups moreover bought rewards based totally on definite necessities listed by the crew.
Seriously, the wonderful beneficiaries had been holders of the OG Badge NFTs who bought about $50,000 worth of tokens every. The community comprised 400 users, and about 100 NFTs had been reserved for crew individuals and cryptocurrency influencers.
Source : cryptonews.com
