Bitcoin Forum

Good day Everyone; i am making this thread to share my opinion about a trending issue and to also learn differing opinions as well.
This is about the #SEISCAM trend that has dominated crypto-twitter for the past 24 hours.

https://i.postimg.cc/yx7tGxxk/Screenshot-2023-08-17-085247.png (https://postimages.org/)

Several enthusiast joined the sei wave and participated in different testnet tasks and some ambassadorial roles to support the sei network and also provide valuable feedbacks to the team in hope of being rewarded; but when sei launched and shared rewards; majority got as low as 1$ up to 100$ while so many others received 0 which has lead to an uproared between enthusiasts and sei team.

• Airdrop events are free gifts from different projects to perform simple tasks (it surely varies
• The rewards from an airdrop event in most cases are speculative (there's no guarantee if it will be worth 1$ or 1000$ or worth 0)
• Test-net events does not PAY; either it is an incentivized participation or promised rewards; payment is not guaranteed.
• Test-net reward is not promised either.
• Influence-rs make promising test-net threads for engagement.
• It is good to follow influence-rs who make promising threads about airdrop events; but be mindful that nothing is promised.
• Nobody forces you to do an airdrop; Nobody forces you to perform testnet tasks; they are not an INVESTMENT; and you are not owned any explanations

My conclusion; i think it is fine to be disappointed if your efforts is not recognized or rewarded; but i also believe that it is not enough to push slur narratives on social media (it has no effects anyways.)

Also stop blaming influence-rs; if they make researches before making threads for readers; then as individuals, you should also make researches before joining any event (test-net or airdrop); while Remembering that nobody promised you millions for participating in their events.

I am open to differing opinions on this issue; what do you think ?

Welcome to the free-stuff problem ~XD

I think with these tragedies, make other projects are gonna think about what they're gonna do for (Airdrop) case. All-other project will think to better not giving allocation for Airdrop, that's mean no airdrop at-all.

2023-2024 are gonna make these test-net stuff without airdrop, since other project don't want these happening on their ecosystem.

Airdrop is something that I have never participated or even join by mistake but I have had some ugly post about airdrop which I think is not something you or anyone could put effort to anticipate although it could be rewarding but this doesn't mean you or participants should channel their efforts and thinking towards something big on that particular airdrop or testnet.

Was there a specific amount set for the testnet or was there any particular amount that is being assigned for the event and even as that, they may give rewards according to their future price and dishes out token to their participants which in turns might Worth anything but maybe according to their roadmap and future plans it could worth something very good.

At the end or alongline the participants might see it as something not being sincere with them, and of course where you forced to join the event or take part in the airdrops?

No because they wanted cheap money and how do they think a newly start up project will risk such amount for airdrop without any reserved fund for the event, even if there are reserved fund it would be from their native tokens which doesn't have future of the price at the moment.

They gave their planned airdrops to testnet but the sad part there was a lot of users were given and almost all received penny amounts. Well its not that they not share what they did plan to do. Its just that too many have participated and you just dissapointed with the value of someone amount did.

Thats life just move on and get shots on other. Its not like every airdrop should be worth $1k above always. Airdrop hunters are frustrated but they also consider that event like this is likely to occur too.

This is not the first project to fail the hunters, and if you’re a new to that kind of scheme better to get used to it because in bounty hunting, there’s no assurance of profit and you have to accept the fact that the project can be a potential scam and of course not worth it after all.

Since 2016 ago and until now the Airdrop has been so tempting for everyone and even at that time it was very easy to participate, plus not using personal money and even just counting Aridrop's fingers using personal capital, different from this year, many Airdrops use ordinary people to  looking for money from everyone, to bribe them to get money from the cost of sending the victims, there Airdrop makers will benefit from what they run, even only a few Airdrops achieve success to run Airdrops, different from the past 2016 where they didn't use  capital to take part in the Airdrop, but everything went well but did not disappoint others, that's why the Airdrop used to be better, compared to the Airdrop this year.

Well, it will not be the norm now to have these $10k airdrop narratives, but I guess that was just one messed up airdrop and the SEI team didn't handle it well. Probably it's an eye opener to everyone that it's not always sunshine for these airdrops and testnet events and only a handful airdrops will incentivized you for good.

For those newcomers, they need to face the reality that airdrops are not their savior nor should be the reason to uplift their economic status.
The situation is now different as compared in the early days of airdrops. You can truly earn good money from airdrops way way back.
I remember the days when the tokens you can get from these airdrops can easily be raded in etherdelta. And now, even ED is dead already.
Instead of chasing these free coins or tokens, better yet, improve your trading skills, look for actual job, or invest in top alts.
Most of the time, you will just be wasting time looking for these airdrops. If such time will be used for other valuable activities, you may get something positive out of it.

The feeling of entitlement is bad and evident in almost all sectors not just crypto airdrop community. It is a reward that can be given or not be given. I know plenty of people who only indulge in crypto only for airdrops. These set of people always feel entitled to rewards even though the protocol in question didn't confirm that there would be an airdrop.

 I remember the good old days where people interact with these chains without the expectations of being rewarded and the rewards then used to be tangible. Now, it is saturated and filled with farmers with entitlement.

there's so many reasons why the devs themselves didn't disclose what qualifies for their airdrops and how much rewards they will be giving at their early stage of development.
that is to attract so much people into participating into their testing phase as well as trying their blockchain, they are taking advantage of the past successful airdrops and misled people into thinking
that they'd get tremendous rewards from participating into using their blockchain thats the reason many people are so committed into following their airdrops.
had they disclosed the rewards and the qualifier at very early, no one would be interested in trying out their blockchain.

I am one of the early participants in the Sei tesnet network. I have done many previous transactions on their network, testing and experimenting with many different applications and projects on Sei Ecosystems, joining their telegram and discord, getting many roles, and constantly interacting with their posts on social media and the events they promote, and finally, after a long wait, After I connected my wallet to claim the airdrop, it appeared that my wallet address and Discord account were not eligible to receive the Sei airdrop. Unfortunately, I am disappointed, and there may be many like me in the same situation.

I agree with you on all of these points that you mentioned. For example, the Sui project did not do an airdrop for the early participants in their testnet network, as they listed their currency in Binance Launchpool only. So yes, there are no guarantees that the airdrop hunters in the testnet network can get an airdrop in the end, It is a matter of luck, and there is no guarantee that the value of the airdrop coins will be of great value or not worth anything in the end.

Projects owners this year have become very greedy  :(

I had already participation lots of airdrop and if i participate 100 free airdrop and completely all task done by airdrop rules than when my payments time and distribution airdrop token/coin than i got payments only 8-10 and very low budget allocation pool when any new project planning to airdrop budget for airdrop participation example if total allocation pool 100k and when payment time than they giving us only 5k-10k allocation pools and so many projects are doing scam without payments get opportunity from every airdrop hunters. And i never joining any events programme like this i have no ideas about event section.

I will tell you about the recent airdrop from the sei ecosystem. The Sei allocated 3% to the testnet users from their tokenomics. That is 300M sei tokens. but the problem is they have not distributed all the 300M tokens. Currently, they have distributed only 20M sei tokens. That is not good for the Sei Ecosystem.

If there's something easy to be done, it's mean everyone can do it. Why the project need to give a big reward if everybody including a ten years old kid can do same? You must know someone get paid based on their job, if there's a barrier to entry, obviously only some or few people can do that and they will get paid accordingly.

Stop think you can get rich through easy thing, wake up.

I've participated in several airdrops. And it's great when you get paid even if it's just a few dollars. But since I have to do KYC and the tasks are quite difficult, I think Airdrop is no longer relevant.
And for influencers it is very necessary to educate their followers about what they are promoting. Even need to tell that this testnet is not paid. I think openness is important here.

If you have done sei testnet and linea for sure it will be understand the frustrations on sei community since it takes a lot of time to do the tasks and that took like more than 10 months. Then youll received few $, a lot of my friends did the sei anf completed it. Some of them say, they wont do any hard testnet anymore due to the kind of rewards they did received.

I only got an amount of SEI that is good for a couple of Starbucks frappucinos. I’ve joined last April and have incomplete Blocked tasks (16 of 18 including the Humanode).

I wasn’t expecting much because I have missed the most of their previous events like the Act 1 to 4 and Atlantic-1 testnet. I was just in the Atlantic-2 and my efforts are not complete until that snapshot.

It’s still free money for me though. A gift perhaps and I am just grateful. I still continue to doing L1, L2 and L3 airdrops in both testnet and mainnet.

Like what Arbitrum, Optimism, Blur, Aptos and Arkham did in the past that gave insane rewards, I believe there will be some “aces” out there. It’s difficult to hunt them, but at least we have a chance even if it means lesser rewards.

My friend has been spending almost 1 year in this shit and he got nothing as he was not being eligible even to receive some token that is worth penny.  The bad habit of hunters. They were thinking their effort will always be rewarded while airdrop still pure speculation. If the dev would be honest and the participant will be reward but if it goes in the different way and it will be another sei.


I don't think blaming those influencers is something wrong. Those influencers were always tweeting about the project by saying "blablabla never miss A airdrop that potentially give you xxxx USD". I do agree if DYOR is a must but hunters lost nothing.
They were only wasting their free time to speculating airdrop.

It's really hilarious to see hunters were calling anything scam once they were not rewarded. It sounds like they didn't know the risk participated in the speculation event like test net testers or retrodrops.

It is reported that the sei team had at about 3% of their tokens for testnet events and airdrop; with such public data can we say that participants are entitled? since the team themselves offered "hope" to some extents.

I think one way to tackle this and solve it is by ensuring transparency; for example the layer zero platform amonsgt others (including Scroll) have been skeptical about an airdrop event. So far this year; Only SUI has handled expectations of followers exceptionally; do you think it is a good template for others to utilize?

At first I also liked participating in the airdrop, because I have to admit that what was done was quite easy, it was clear that the most important thing was that they paid properly and correctly. but after being exposed to consecutive lies, finally you have to be willing to accept not to follow again.
I think you are right that taking part in airdrops is very fun because of the convenience, but if, as you said, at this time you have to do KYC, of course, the rules that have been made are difficult, maybe their actions are to prevent someone from playing fraudulently with double accounts.
but in the end it was returned to the individual, but it is clear that I will definitely avoid any airdrop.

Exactly. A lot of people are wasting their money and time just to hoping to be airdropped on some projects.
What they are doing right now is just gambling, they don't know if they will get rewarded or not while they are already wasting their precious time and money playing on these different platforms.

I think when Zksync and Layerzero finally do their airdrop the result will be the same. There are way too many people participating in these airdrops that the reward is going to be nil.

Sure UNI and BLUR and ARB were very successful but these airdrops Gained so much attention that everybody is doing it with 100 different wallets. So their everyone will be labeled as Sybil or the airdrop reward will be very small.

TBH, I'm thinking of joining in these testnets because of the threads you've created regarding these projects that are doing some testnets etc. but after seeing this one, I think I will be back in the part where I'll be hesitant in doing it again. I mean we only have limited time, and we are maximizing it, and trying to use it to gain some money, and yet they are being rewarded with a small amount dollars. It isn't worth it.

As for the influencers, they don't care if we as followers are getting scammed either buy spending money or spending time into the projects that they're promoting as long as they are getting paid in advertising that project. Who cares about us? They're the least ones that will care about us. There might be some who are educating, but it's more of an advertising. As for airdrop events, and testnet events as an investment, it's still an investment. You didn't invest money doing it, but you did invest time so that you can earn free money.

Speaking of free money, those who are joining these kind of activities more often must lower their expectations. There's no free lunch here.

Well its up to you actually. These testnet are trials and error anyway. Some could got big money too or low. It really depends, its not like a promise good reward so it was also always a risk.

Yes, if they did joined testnet like these, they should not expected so much since its a testnet. Maybe for me try less participants or less noise projects to be sure of a good rewards.

I do agree with what you said.
Don't blame anyone for risking your own money. First of all, we should do our homework first, on our own, and not just let influencers or social media bloggers do the job while some profit from just sitting and letting their money do the work.
As an average guy who gives importance to money, I won't just give away my money without making sure that it's a legitimate investment. There's always a way to check them out, the internet is broad and there might be people who already experience dealing with them with good or bad incidents, and that is where we could ask.
This forum is actually one of the good platforms to question one project and I have seen a lot of threads that were made here asking the questions that cannot be answered by Google.

That is such a good approach and should be remembered for a long time as well. I can easily say that it is going to end up with a situation where it will not be that simple and we could end up with a solution that would be a bit different on the long run. I think it is a trouble for people not to be careful about it, and if they are not careful about it then they are going to lose a lot of money and blame the projects and the team and the community and all that when they lose money but not themselves.

If you invested into something that made you a loss, you should only blame yourself and not anyone else, it is not going to be something that you could make profit from and you are going to end up with a trouble one way or another.

There are so many different kind of crypto influencers out there, it should be our responsibility to choose who to follow and learn how to be responsible in things that we do because of the influencers we follow. Blaming them is just non-sense, they also mostly wouldn't be affected by your blames. Always check what you are doing and filter out the influencers you are following. First thing to do is to unfollow those paid influencers since they are mostly the one who don't make any sense and would put you into trouble.

Airdrop testnets today are purely speculations, don't believe on those who said that it's a guaranteed airdrop because you all will end up being disappointed.

Taking care of yourself is most vital in the crypto world. Influencers cant be blamed for your bad investments or choices. The bottom line: Not everyone understands blockchain's lingo, technology, and market techniques. Not all popular people are the same. Someone with many followers doesnt necessarily give good advise. The problem isnt simply paid misinformation spreaders, but also those who do it intentionally. Even though its easy to suggest, "Just unfollow them," not everyone knows who to trust and who to ignore. So its not just about following or not following; its about creating a society that values facts over loud voices.

Airdrop testnets. Saying they're guesses reduces their exhilaration, like playing chance. Thats Finance lesson: "Dont trust anything that promises a guaranteed return". So jump into the airdrop depths with your eyes open and ready for anything. A little skepticism can save major disappointment. Lets mature together and stop blaming others. Even if we're angry, let's talk. So, be focused, dont follow, and be responsible. But lets also hold powerful people accountable. After all, its two-way.

I am taking chances no matter what even if it’s just a very slim chance especially popular ones like LayerZero, zkSync Era, Base, Linea, Starknet and more.

I’m already aware of the risks and acknowledge it if something goes wrong like what Sei did to us. I’ve managed to start expecting less than more that would just reduce my “disappointment”.

I would just regret if I was surprised about a snapshot date of a project where I did not interacted or qualified in their criteria like the Arbitrum, Arkham Intelligence, Cyber and so on.

Testnets are indeed 100% free because you are not spending a single dime as it is a “test”. But for mainnet retroactive drops, “technically” you are investing to spend in gas fees, minting NFTs for qualification, etc.

Yes I think so too. I think most pple in crypto, especially newer members are riddled with the victim mentality and put very little efforts towards actually making proper research before investing in projects. I personally cant blame any influencer for any mishaps in my portfolio. I should be the one at fault for falling for his/her scam.

Yes Testnet events are without investment and the user use the project function and give feedback so the project launch there mainnet so they give reward there early users .
Airdrop are different some Airdrops are full free without investment but some types Airdrop are need investment if anyone participate in this they are invest fund on Airdrop pay fee etc for minting bridge etc.

Maybe they don't require an investment (money) but you will still need to dedicated your time on them. I guess that is still considered as an investment. I have done a couple of them before and we are not require to give a feedback but as long as we already play around with the features of the platform, we are already qualified for a chance to win a reward.

Yes, I say that because I rarely get a reward from them so I think many of them works like a sweepstakes or something where they draw/raffle the winner randomly. It might still be part of the airdrops but only on a different category. Original airdrops only started from a simple task then a lot of variations have come out overtime. I still miss the old era of airdrops because my experience on them is much better than the others.

right now too much people are participating into the airdrops, same with retroactive that requires you to pay for gas fee for interacting with various smart contracts, though it might have significantly smaller participants, but so far the active wallets in zksync and even layerzero are too humongous I don't think something like ARB airdrop and APTOS airdrops ever gonna be repeated again until sometimes.

right now if you see, there are simply too much people wanted to get rich from just doing simple task, take example is venom where there are so many testers trying to get qualified for their future airdrops despite the fact that its unconfirmed but I could easily say that the number of participants far surpasses 1 million wallets if i'm not mistaken.
simply put nowadays these aren't really profitable way of earning money anymore, everyone is participating and the allocated tokens are the same.

In my opinion; i think it is only right to participate in testnet events if you find "worthy" ones; while there are many bad rewards in the crypto currency; if we look around without bias; there are also many good rewards from crypto currency too. Are testnets worth a try; the answer will be yes; is it worth a reliance ? No, and thats where people get it wrong.

the only reason the old era of airdrops are so good because the task was so simple yet the reward was so huge, its mainly because we are still at early phase where cryptocurrency aren't that sought after therefore the participants are fewer meanwhile the allocated tokens are quite bountiful.
nowadays, everyone are fomo'd into following some of these airdrops that makes the participants number growing significantly if compared to the past, but that's okay since with the increase number of participants it just means that cryptocurrency becoming more and more popular.
also it aligns with many blockchain devs idea of airdrop in which gathering as much people into interacting with their blockchain though that also mean lesser rewards for those participants honestly.
so i'm almost sure that there will be no massive airdrop like the ones arbitrum have in the meantime.

I do think that when Zksync and Layerzero announce their airdrop; there will be little criticisms and also the airdrop will follow the arbitrum pattern; where everyone got rewards once they are eligible (even if you made just a single transaction on the arbitrum airdrop).

For zksync, the airdrop will be rather straight forward; for layerzero; they have so many platforms and it is unsure yet which of them will be used for the criterias. but still i trust both zksync and layerzero to be more transparent in their approaches just like ARBITRUM.

Before joining a free program like that, we should really understand that there is nothing that guarantees that we will get rewards. There are many people who have gone through the same thing for the umpteenth time, and there are many of them who understand exactly how it feels. But what is certain is that not all of the tokens or rewards from such projects will actually produce results. Imagine that from their hard work over a certain period of time there will be several people who might be able to take all the risks and ultimately achieve success. However, quite a few people get angry and end up giving up easily.

However, if we blame other people for what happened to us, this is actually unfair. Because after all, we ourselves are responsible for what we decide to take a position on a certain coin at a certain rate. And we ourselves consciously participate in various programs that get certain rewards as transactions.

Hey, at least it was something. I don't really understand what people expect from this kind of stuff, it's not like Testnet gave them an official contract where they'd be rewarded with x amount of money to feedback on their site. They probably have an internal team doing all the heavy testing in the initial phase, and this kind of public test phase is just a test run to see whether they missed some, and the keyword here is "some" since it would really be a small amount (if they have a proper dev team, which I assume they have).

Can we blame the projects though? I don't think so. They can, maybe, promise immediately that they'd reward users only a specific amount, but that'd be kind of dumb on their side since they're getting free workforce for as low as a $1. It's not like any law obligates them to announce their rules. Man people's assumptions can be really scary.

but thats still unclear though we don't even know the criteria of airdrops by both project, though there are rumour about it, its all still rumours, moreover seeing the pattern of past airdrops nowadays, the good project like these two mentioned are more likely to put different qualifications since each project trying to be unique in term of their airdrop qualifications, I think these two project will just do the same. still its just speculation.
what matters is that just doing the retroactive, and not missing when airdrop is revealed since we've done our best to follow and gets qualified.
other than that, its better if they don't follow the path of sui even worst sei, though with sui even if it requires we to invest if we could get massive profit in almost instantly like sui then its even better.
but that might just be wishful thinking.

Tarnishing image of project because you expected something and reward didn't turn out according to that expectation, is not the behaviour I encourage either. I'm in support of you, op.

This is why I only bother with platforms which I like and if airdrop happens it'll be an extra reward. Expectation leads to disappointment.

There is a huge number of airdrop hunters, therefore, it is expected you will never get big rewards but just a penny.
If we could also understand that situation, I don't think we become disappointed about it knowing that this will happen to all the participants. Besides, airdrops don't make us earn more but just a penny or shitcoins. Well, airdrops before seem to be a money maker but these days, they are even quite useless and a waste of time. This is really be the life of airdrop hunters, sometimes we got lucky but most of the time we are too unlucky.

I remember with NFT that already distributed by zksync team. I don't know whether this NFT will be useful in being eligible for the airdrop or not. Making a single transaction in arbitrum airdrop will not make you eligible caused by you need at least to earn three points.
People should have some transactions and bridging eth to the arbitrum to be eligible for the airdrop.

The thing that i know if zksync already confirmed to have token in supporting the decentralization for its network but i don't know about layer zero.
There's no clue regarding layer zero token. I remember some twitter accounts were hyping it caused by they have found something from layer zero github but it's not even related to the layer zero token.

I believe this is the right word tbh; too many expectations on airdrop events, testnet events etc is what leads to such form of entitlement by the airdrop participants. Also i believe project owners should devise methods to handle airdrop situations politely, such that there are 0 escalations that leads to media image tarnishing using arbitrum airdrop approach as a case study.

Actually, programs like this that give gifts in the form of their initial tokens will always be like this. These gifts can later be valuable or worthless gifts. Because this will really depend on how the project will develop its potential and optimize all its achievements to continue to survive and develop in the crypto market. However, looking at the situation and conditions in which such projects have been running, I personally am not sure if their tokens will be useful for investment. I used to hope so, even holding their tokens for a long time because I hoped that these tokens would really grow and have extraordinary potential. However, of the many new tokens, none of them were valuable. even everything becomes shit coins.

If we really get tokens from events like that, I think the sooner they can be sold, the better. Moreover, if we meet the hype market for the coin and immediately sell it at the right time, then it might be more worth it. This is because up to now, new projects usually don't last long on the market and will immediately go into decline after the hype is over. In fact, if the project cannot be hyped, they will actually die before listing on the ID market.[/list]

The rewards from airdrops vary and some of them really give a huge amount of rewards and it multiplies more for the people who live in some 3rd world countries. But we don't ignore the fact that most of them are not giving that much because others only give a penny or a dime depending on how big the project is. But for the people who participated in multiple Airdrops, I think this won't matter at all because at the end of the day when they want to withdraw and convert it to fiat, they're like harvesting fruits because they gonna convert all the rewards from other projects also and make it a decent amount of money.

But still many gamble their faith just to try and get a possibilities to earn. Since Arb airdrop many are been hype again with recent airdrops and they didn't even notice that todays task is more riskier since many ask to connect your wallet to their platform then you are prone to get hack with that. So hopefully many will realize that they are just baited by some people who try to stole their balances so they must be more careful with this and avoid scam airdrops.

I visited some tele groups about looking for airdrops and they actually expressed their disappointment to a negative level with SEI. Actually, I don't think this problem needs to be too serious because it's not any project. always brings generosity to the community, and the story of SEI bringing anger from the community will probably also be a clearer view of ambiguous projects about marketing programs to attract users, just be transparent from the beginning about the reward story so that those pursuing this job will not be further disappointed. But if it's a bit fair because I myself have also sought opportunities from airdrops, testnets,... then I have to admit that the tasks are too easy to repeat every day, so if I receive a large amount of money that's a great thing, but even if it's just a small amount of money, it doesn't matter because it's not a main job.