Community Trust ScoreVerified
Monad, a Layer-1 blockchain project, has come under fire from the crypto community after opening its MON token airdrop claiming portal. While the claim period runs until November 3, the rollout has sparked backlash among traders and NFT holders who feel unfairly excluded.
The controversy erupted after Monad’s announcement revealed that some users expected to qualify for the airdrop — including those from Hyperliquid (HYPE) and HypurrNFT — did not meet the final eligibility requirements. Many community members took to X (formerly Twitter) to express disappointment, saying the criteria lacked transparency and failed to reflect prior communications.
Hyperliquid and HypurrNFT Traders Feel Excluded
Initially, Monad’s team suggested that Hyperliquid traders, Phantom perps users, and HypurrNFT holders would be eligible for MON tokens. However, multiple reports now indicate that only a small portion of HypurrNFT owners qualified.
Some traders claim to have recorded massive trading volumes — in excess of $200 million — yet still failed to meet the eligibility benchmarks. The discontent quickly spread across crypto circles, with users labeling the event “a joke” and accusing Monad of misleading its early supporters.
Despite the frustration, Monad stated that over 235,000 users will still receive tokens, including long-term community contributors and developers who have participated in hackathons, governance initiatives, and social engagement activities.
Criteria Include Developers and High-Volume Traders
Monad’s official distribution plan highlights a mix of eligible participants, including:
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Active community members with verified social engagement.
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Traders with notable activity on decentralized exchanges like Hyperliquid.
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Holders of established NFT collections such as CryptoPunks and Pudgy Penguins.
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DAO voters on Ethereum-based platforms.
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Developers who have built tools or dApps on Monad’s testnet or participated in hackathons.
While this list appears inclusive, critics argue that its real-world execution failed to reward the individuals and groups who have meaningfully supported the ecosystem since inception.
Critics Question Fairness and Transparency
Prominent DeFi researcher Coin Metrika has been among the most vocal critics of Monad’s airdrop process. According to Metrika’s analysis, the eligibility framework shocked the community by revealing that only 5,500 wallets qualified — less than 1% of Monad’s total Discord members.
This limited distribution contrasts with the project’s stated goal of rewarding early adopters. Moreover, Coin Metrika claims that 225,000 addresses receiving tokens appear to come from outside Monad’s core community, suggesting that a majority of recipients may not even be familiar with the project.
In a sarcastic social media post, Coin Metrika summarized the sentiment:
“You helped test our product for free, but sorry — you’re not eligible. You created viral content for Monad — thanks for the laughs. But if you’ve got money on-chain, congratulations — here’s your airdrop.”
This pointed criticism encapsulates the growing frustration within the Hyperliquid, HypurrNFT, and broader DeFi communities, many of whom now question Monad’s commitment to fairness and transparency.
Market Impact and Community Backlash
The discontent has also spilled over into market performance. Hyperliquid’s native token HYPE has suffered notable declines, dropping 13% over the past week to trade around $39, according to data from TradingView.
While Monad has yet to issue an official response to the mounting criticism, the situation underscores a broader concern in the crypto space — that airdrop strategies, often intended to reward loyalty, can backfire when perceived as exclusionary or inconsistent.
Analysts warn that the reputational damage could weigh on Monad’s long-term growth prospects. In decentralized ecosystems, where user trust and participation are paramount, mishandling token distributions can have lingering consequences for adoption and investor confidence.
A Cautionary Tale for Future Projects
Monad’s airdrop controversy serves as a cautionary reminder for emerging blockchain networks. As the industry evolves, transparency and fair reward mechanisms are increasingly vital to maintaining community trust.
Projects that fail to clearly communicate eligibility criteria or overlook key contributors risk alienating their most dedicated supporters — the very individuals who help build momentum during early development stages.
With the claiming window open until November 3, it remains to be seen whether Monad will address community concerns or adjust its distribution model. For now, many early supporters — particularly those from the Hyperliquid and HypurrNFT communities — remain disillusioned, feeling left in the dark after contributing to what they thought was a collaborative, inclusive project.
