Airdrop Price Action Two week ago, the company behind Bored Ape Yacht Club (BAYC) launched a governance and utility token — ApeCoin (APE) — via an airdrop. An airdrop is a mechanism designed to reward early protocol adopters and attract new users and has proven to be a remarkably effective tool for building community and momentum around a project. However, airdrops are not without their risks, as highlighted by Apecoin, which suffered a flash loan attack, price volatility, and controversies arou