{"id":83225,"date":"2023-08-17T16:38:36","date_gmt":"2023-08-17T13:38:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83225"},"modified":"2025-09-12T09:53:49","modified_gmt":"2025-09-12T06:53:49","slug":"sei-community-disenchanted-by-modest-airdrop","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/sei-community-disenchanted-by-modest-airdrop\/","title":{"rendered":"Sei community disenchanted by modest airdrop"},"content":{"rendered":"<p>Developers of the L1 blockchain Sei Network began distributing native tokens, but recipients were dissatisfied with the meagre rewards.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2023-08-17-v-16.08.18.webp\" alt=\"Snimok-ekrana-2023-08-17-v-16.08.18\" class=\"wp-image-213839\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/twitter.com\/Smartecio\/status\/1691929128209936620\">X<\/a>.<\/figcaption><\/figure>\n<p>One user on X (formerly Twitter) said he participated in all four testnets of the project and promoted the protocol for 10 months. However, he was credited with only 1.39 SEI \u2014 $0.25 at today&#8217;s rate.<\/p>\n<p>3% of the total supply \u2014 300 million SEI \u2014 was allocated for rewards. Initially this amount was supposed to be distributed among 500,000 addresses, but later, due to \u201chot demand,\u201d their number <a href=\"https:\/\/twitter.com\/Sei_FND\/status\/1692070808783368592\">\u0443\u0432\u0435\u043b\u0438\u0447\u0438\u043b\u0438 \u0434\u043e 1,5 \u043c\u043b\u043d<\/a>.<\/p>\n<p>According to Sei representatives, this was a \u201ctrue cross-chain airdrop,\u201d hence participants from Ethereum, Polygon, Arbitrum, BNB Chain, Solana, Optimism and Osmosis networks took part.<\/p>\n<p>The blogger under the pseudonym CryptoTelugu <a href=\"https:\/\/twitter.com\/CryptoTeluguO\/status\/1692104406433746981\">highlighted<\/a> several major drawbacks of the airdrop. Among them, he named the small number of tokens distributed, \u201cwhitelists\u201d for testers, opaque tokenomics and unclear criteria for receiving coins.<\/p>\n<p>Users were so disappointed by the small rewards that they launched the hashtag #SeiScam.<\/p>\n<p>After <a href=\"https:\/\/forklog.com\/en\/news\/sei-token-listed-on-binance-coinbase-and-huobi\">listing on August 15<\/a>, the SEI price reached a peak of $0.28, but at present has fallen about 20% \u2014 to $0.18. According to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/sei\">CoinGecko<\/a>, the asset&#8217;s market capitalisation stands at $322 million.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"436\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/SEIUSDT_2023-08-17_16-23-23-1024x436.png\" alt=\"SEIUSDT_2023-08-17_16-23-23\" class=\"wp-image-213840\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/SEIUSDT_2023-08-17_16-23-23-1024w.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/SEIUSDT_2023-08-17_16-23-23-300x128.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/SEIUSDT_2023-08-17_16-23-23-768x327.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/SEIUSDT_2023-08-17_16-23-23-1536x654.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/SEIUSDT_2023-08-17_16-23-23-2048x872.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute chart of SEI\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/SEIUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>After <a href=\"https:\/\/forklog.com\/en\/news\/sei-blockchain-startup-raised-30-million-at-an-800-million-valuation\">raised<\/a> funding of $30 million at a valuation of $800 million, the Sei team reminded readers about the financing.<\/p>\n<p>Earlier, SushiSwap <a href=\"https:\/\/forklog.com\/en\/news\/sushiswap-to-launch-sei-network-based-dex-for-futures-trading\">announced<\/a> plans to launch a decentralised exchange for futures trading on the blockchain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Developers of the L1 Sei Network began distributing native tokens, but recipients were dissatisfied with the meagre rewards.<\/p>\n","protected":false},"author":1,"featured_media":83226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1158,1559],"class_list":["post-83225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-airdrops","tag-sei-network"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=83225"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83225\/revisions"}],"predecessor-version":[{"id":83227,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/83225\/revisions\/83227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/83226"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=83225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=83225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=83225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}