Crypto thrives on incentives, not utility

A $1000 airdrop or another interesting decentralized solution (that really works)? Well, I’m not trying to guess your preferences but you’re more likely to choose the latter if you are from the crypto class of 2017 and older. Anything younger than that; that $1000 cashout is getting picked over anything else.

The crypto space grew faster post-2017 and if you ever wondered why, the answer is that projects finally hacked the major interest of people in this space…just like any other space where the possibility of getting rich is offered. I’ve accidentally qualified for a handful of earndrops and airdrops; Forth, Arbitrum, Celestia, and some I didn’t even bother claiming due to the ridiculous gas fees on the Ethereum blockchain. While I consider these a reward for genuine interest in projects, this is not the case for the millions of ‘crypto enthusiasts’ and ‘cutting-edge projects’ who have capitalized on the craving for free money. But before I start another paragraph, this is just one of my many rants that no one (should) care about. Don’t forget to farm your airdrop, regardless of what I say next.

But yeah, I assessed the daily activity charts of many L2 projects and testnets for L1 projects and noticed a similarity with that of a usual memecoin that an African ‘dev’ rug-pulled and is struggling to recover. Peak user activity before the airdrop…