The crypto community, especially the Sei network followers and users, have experienced what we can term a wave of discontent, as the much-anticipated SEI airdrop turned into a whirlpool of criticism and backlash.
Users have labeled their SEI experience as a “tragedy,” as they had to farm for 8-12 months to be rewarded with what they call a “paltry sum.”
Most cryptocurrency projects face continued challenges as they strive for mass adoption, secure listings on top exchanges, and high scores to facilitate insider or VC cashouts. However, missteps like the SEI saga can quickly erode community trust.
The SEI launch pool on Binance was a strategic move. However, after the rewards, the community is feeling used and abused.
Meager Rewards After Primary Token Listing
The announcement of Sei’s upcoming listing was met with anticipation by many. However, they still maintained some curious silence on the airdrop till later.
They later launched a website for users to verify their drop entitlements when technical issues emerged. This initial stumble was just a foundation of potential challenges that were lying ahead.
Sei notified the community that the distribution of the airdrop would follow the primary token listing with a delay. The postponement stirred a wave of discontent within the community.
The payout was way short of expectations when the airdrop eventually came through.
The average distribution per account ranged from $4 to $15, which left the community disappointed.
The backlash on SEI may affect the SEI token’s price negatively. However, this is still a subject of speculation.
The SEI airdrop fiasco serves as a warning to many crypto projects, with active engagement, transparency, and fulfilling expectations being paramount.
