October shutdown wave hits crypto - who's really paying for airdrops?
Pacman built $BLUR and Blast on points farming. Zero fees crushed OpenSea. Pulled in $500M+ deposits.
Three airdrops? ~$850M distributed.
Protocol revenue? Basically zero. Blur made $2.26 total. Not a typo.
Both shut down. Costs stayed higher than revenue. Turns out points can farm users and TVL, but can't farm sustainable income.
The airdrop ponzi is real.
Pacman built $BLUR and Blast on points farming. Zero fees crushed OpenSea. Pulled in $500M+ deposits.
Three airdrops? ~$850M distributed.
Protocol revenue? Basically zero. Blur made $2.26 total. Not a typo.
Both shut down. Costs stayed higher than revenue. Turns out points can farm users and TVL, but can't farm sustainable income.
The airdrop ponzi is real.