Hyperliquid Holders Left In The Dark: Monad Protocol Faces Scrutiny Over MON Airdrop

3 hours ago

Layer-1 (L1) blockchain Monad has precocious opened a portal for users to assertion the airdrop for its autochthonal MON token, with the claiming play acceptable to extremity connected November 3. However, the announcement has sparked important disapproval wrong the crypto community.

Many users, peculiarly those connected societal media level X (formerly Twitter), person voiced concerns that the criteria for eligibility person not aligned with the developments, leaving respective traders, including those from Hyperliquid (HYPE), ineligible for the airdrop.

Hyperliquid And HypurrNFT Users Left In The Lurch

At the clip of the announcement, it was stated that users of Hyperliquid, Phantom perps, and holders of HypurrNFT would beryllium eligible to person the MON airdrop.

Despite this, reports indicate that precise fewer HypurrNFT holders qualify, with immoderate users claiming that their important trading volumes—over 200 cardinal connected perps—did not conscionable the eligibility requirements.

These frustrations person led to comments such as, “this airdrop is simply a joke,” highlighting the disconnect betwixt the expectations acceptable by Monad and the world faced by its community.

According to the outlined criteria, Monad plans to administer tokens to implicit 235,500 users, including progressive assemblage members who person consistently supported the task connected societal media and engaged successful assorted initiatives.

The criteria besides encompass traders with precocious trading volumes connected decentralized exchanges similar Hyperliquid, semipermanent holders of fashionable NFTs (such arsenic CryptoPunks and Pudgy Penguins), participants successful DAO voting connected Ethereum-based platforms, contributors to ecosystem improvement done assorted roles, and developers actively creating products connected Monad and participating successful task hackathons.

Critics Question Monad’s Commitment To Users

Critics, including DeFi researcher Coin Metrika, person sharply criticized Monad’s airdrop strategy. Metrika pointed retired that the published eligibility criteria shocked galore wrong the crypto community, revealing that lone 5,500 wallets are considered eligible—representing conscionable 0.74% of Monad’s Discord users.

Meanwhile, the task is distributing airdrops to 225,000 addresses extracurricular of its community, galore of whom whitethorn not adjacent beryllium alert of Monad oregon the impending assertion deadline. In a sarcastic commentary, Coin Metrika summarized the situation, stating:

If you haven’t figured it retired yet, here’s a summary of #MonadAirdrop criteria: You person roles successful Discord that are hard to obtain—thank you, we’re not funny successful you due to the fact that you’re poor! You participated successful our testnet—thank you for helping america trial the merchandise for free, which we sold to investors for a batch of money. Dressed up successful clown costumes and changeable viral videos to beforehand the @monad brand—thank you, we laughed retired large astatine you. You person wealth that you’ve shown connected the blockchain—let’s beryllium friends, here’s your airdrop!

This highlights the expanding dissatisfaction wrong the Hyperliquid, HypurrNFT and wider crypto communities regarding however Monad has handled its airdrop initiative, raising questions astir its committedness to its users.