Drops have died. Farmers have killed.
Uniswap 2020 — average drop $27K. Just for using it.
Then came the wallet factories. Scripts. Hundreds of accounts per person.
Projects responded: points, KYC, sybil-filters, tier lists. Drops for $50 if lucky.
Channels that lived on this — are squeezing the remnants from a dead model. Guides exist. Money does not.
Hyperliquid distributed $116K. An exception, not a rule.
Abusers thought they were Robin Hoods. In reality — they killed the goose that laid the golden eggs.
One does not pay for the ride — okay. Everyone does not pay — the bus does not run.