Hyperliquid News Today: Monad Airdrop Favors Wealth Over Community, Sparks Equity Debate

The much-anticipated MON airdrop by Monad Protocol, a high-performance Layer-1 blockchain, has ignited controversy as early adopters and active community members-particularly those from rival platforms like Hyperliquid-express frustration over opaque eligibility criteria and perceived inequities in token distribution. The airdrop portal, which opened on October 14, 2025, aims to distribute 100 billion MON tokens across 235,500 addresses, but critics argue the allocation strategy favors wealthy on-chain actors over grassroots contributors .

Monad's airdrop, structured into five categories-Monad Community, Onchain Users, Crypto Community, Crypto Contributors & Curious, and Monad Builders-allows users to stack allocations if they qualify across multiple tracks. The project combines on-chain data (e.g., DEX volume, NFT ownership) with off-chain metrics (e.g., social media engagement) to determine eligibility [2]. However, users with significant testnet activity, high trading volumes on platforms like Hyperliquid, or ownership of ecosystem NFTs (e.g., HypurrNFTs) report being excluded despite meeting unofficial benchmarks .

Hyperliquid users, in particular, have voiced frustration. The Hyper Foundation initially suggested that active participants in its Genesis event and HypurrNFT holders would qualify for the MON airdrop. Yet, many with over $200 million in perpetual futures trading volumes or rare HypurrNFTs (some valued at $50,000) found their wallets ineligible . One user sarcastically remarked on X: "this airdrop is a joke," highlighting a growing rift between expectations and reality .

DeFi researcher Coin Metrika has been vocal in condemning Monad's approach, noting that only 5,500 wallets-0.74% of its Discord users-are deemed eligible for the core community category. Meanwhile, 225,000 addresses outside the community will receive airdrops, many of whom may lack familiarity with Monad . Metrika's scathing critique encapsulates the sentiment: "You have roles in Discord that are difficult to obtain-thank you, we're not interested in you because you're poor! You participated in our testnet-thank you for helping us test the product for free... You have money that you've shown on the blockchain-let's be friends, here's your airdrop!" .

The airdrop has also drawn comparisons to Hyperliquid's own successful $HYPE airdrop, which distributed 310 million tokens in November 2024, propelling the token to an 800% surge. Hyperliquid's strategy, which allocated 42% of its total supply to future airdrops and emphasized community-first principles, starkly contrasts with Monad's approach .

Despite the controversy, the MON airdrop has generated significant speculative interest. Pre-launch derivatives trading on platforms like Hyperliquid valued the token at $0.12–$0.15, implying a $13–$18.9 billion fully diluted valuation (FDV) [4]. Analysts project a potential $1 price target, though volatility remains high. Meanwhile, HYPE, Hyperliquid's native token, has lost 13% over seven days, reflecting broader market jitters .

Monad's tokenomics, which include a fixed 100 billion MON supply, remain partially undisclosed, with details on vesting schedules and allocations pending. The project's co-founder, Keone Hon, has emphasized that "there is NO incentive to claiming really fast," urging users to "triple check everything" [2].

The MON airdrop underscores a growing debate in the crypto space about equitable token distribution. While airdrops are often celebrated as tools for decentralization, critics argue they increasingly reward wealth and network influence over genuine community participation. For projects like Monad, balancing inclusivity with strategic allocation will be critical to maintaining trust and fostering long-term adoption.

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