aPriori Investigates Airdrop Activity Amid Investor Concerns

aPriori Investigates Airdrop Activity Amid Investor Concerns

Web3 startup aPriori addressed investor concerns on Friday, stating that suspicious activity surrounding its recent airdrop was not linked to its team. This comes after observations that a significant portion of the token distribution was claimed by a single, unidentified entity.

According to blockchain analytics platform Bubblemaps, approximately 60% of the aPriori (APR) token airdrop was claimed by a mysterious entity operating through 14,000 interconnected cryptocurrency wallets. This pattern is indicative of a Sybil-style farming operation, where a single actor utilizes numerous wallets to maximize their rewards.

aPriori had previously lowered eligibility requirements for its Monad Mainnet airdrop with the intent of rewarding genuine users. However, the company stated on Friday that their investigation found “no evidence that anyone on the contributing team or from the foundation has claimed the airdrop.”

Cointelegraph has been unable to independently verify the identity behind the wallet cluster and has reached out to aPriori for further clarification.

Bubblemaps CEO Nick Vaiman characterized the project’s initial response as “dismissive,” noting that aPriori suggested a potential leak might have allowed someone to exploit the airdrop. Vaiman told Cointelegraph, “They’re saying there was a leak and someone used that info.”

aPriori, based in San Francisco, was founded in 2023. In August, the company secured $20 million in funding to expand its trading infrastructure platform, with contributions from Pantera Capital, HashKey Capital, and Primitive Ventures, bringing its total funding to $30 million.

Revised Airdrop Parameters and Investor Sentiment

aPriori has updated the parameters for the upcoming airdrop allocation, which will now prioritize “social contribution,” according to the official announcement.

The startup has also increased the initial unlock percentage of the airdrop from 12% to 15%, meaning users can claim an additional 3% when the Monad mainnet launches on November 24.

The remaining 85% will be available for claiming six months after the mainnet launch, as detailed in aPriori's updated technical documentation. Users seeking to unlock their full allocation can deposit assets equivalent to 10 times their airdrop value for a period of 14 days, thereby qualifying them to unlock the remaining 85% of their claim.

Crypto investors have expressed mixed opinions following aPriori's announcement, with some voicing skepticism regarding the lack of transparency in the internal investigation.

“Second phase of rug is coming. They’re literally paying botters to hype them up rn,” commented crypto investor IbrahimXBT in a Friday X post.

Other users have defended the aPriori team, attributing the airdrop claim issue to professional airdrop farmers.

In a November 11 X post, crypto investor FastLife stated, “This is 100% false, the FUD is orchestrated by a competing entity,” further adding that “it’s airdrop farmers’ fault.”

Within the cryptocurrency space, a professional airdrop farmer (or squatter) is defined as an entity that interacts with emerging protocols solely for the purpose of acquiring airdrop rewards, often employing multiple wallets to amplify their gains.

Airdrop farmers successfully consolidated $3.3 million worth of tokens from Arbitrum’s ARB airdrop in March 2023, transferring the funds from 1,496 wallets into just two wallets under their control.