SEI Community, an rising participant within the trading-focused layer-1 blockchain area, has introduced the rollout of its “mainnet beta” part, marking a major milestone in its growth.
Backed by a considerable $120 million funding from famend backers Multicoin and Coinbase, the community’s ambitions are excessive.
Nevertheless, the journey towards its present stage has been marred by a sequence of challenges, together with disgruntled individuals in its airdrop program.
As SEI Community launched, pleasure was palpable within the crypto neighborhood, fueled by firm representatives hinting on the quick availability of airdrop claims.
This promise was shortly dashed when an official Tweet clarified that tokens would solely develop into claimable after an unspecified “warmup” interval, triggering a wave of frustration amongst keen individuals.
Sei leaves a bitter style.
Be an envoy with Sei for a 12 months, contribute – get $40 to $200
Don’t do something, spend 2 minutes to bridge for faux quantity – get $1k
That ain’t proper. And also you aren’t tricking anybody with faux metrics @SeiNetwork
— Auri 🔮 (@Auri_0x) August 17, 2023
Discontent Rises Over SEI Airdrop Distribution
When the airdrop claims lastly went reside, individuals had been fast to specific their dissatisfaction with the meager token distribution. The hashtag “SeiScam” started trending amongst a sure subset of customers, reflecting their disappointment in what they perceived as an underwhelming allocation of rewards.
Critics went as far as to label the state of affairs because the “Worst L1 Blockchain Airdrop distribution mechanism ever seen” and even dubbed SEI Community the “first Meme Blockchain.”
$Sei , #SeiNetwork Ecosystem Rip
😡Worst L1 Blockchain #Airdrop distribution mechanism ever seen ( 1st L1 Meme Blockchain)
Group is Key 🗝️ = Lmao 😂
1 Yr Of Rewards = 10 $sei – 110 $Sei 🤣$Sei Staff Doesn’t Have Any expertise in web3 #SeiScam https://t.co/K0Bf7eZJAW pic.twitter.com/fRFZU8MRb5
— Gautamgg.eth/sol 🇮🇳❤️ (@Gautamguptagg) August 16, 2023
Sifting by way of the controversy, SEI Community has been on the heart of heated debates, with claims starting from “fiasco” to “not a rip-off.” The community’s choice to lock down its Discord channel on the day of the token launch added gas to the fireplace, additional stoking skepticism throughout the neighborhood.
A spokesperson for the community, nonetheless, supplied explanations for the criticism, attributing it to the airdrop’s perceived letdown and the surprising discord lockdown.
Focus Of Complaints And Continued Challenges
A good portion of complaints centered round SEI Basis’s selection of reward recipients. Critics lamented the disparity between rewards for diligent testnet customers and people who selected to bridge substantial quantities of funds into the community. This discrepancy led to accusations of favoring “whale conduct” over honest distribution.
Whereas the community continues to encourage customers to deposit funds by way of bridges, the continuing program has encountered its personal set of challenges.
SEI is at the moment buying and selling at $0.1579. Chart: TradingView.com
Quite a few customers reported difficulties bridging their funds again off the chain after efficiently claiming their airdrop rewards. SEI Basis acknowledged the problem, revealing that the Wormhole bridge had hit its “day by day restrict,” including one other layer of frustration for customers.
SEI Community’s Future Amidst Turmoil
Regardless of the hurdles and controversy, SEI Community is pushing ahead, with its “mainnet beta” part now underway. The community’s resilience is clear because it will increase the cap for its ongoing bridge deposit program on account of excessive demand.
As SEI continues to navigate its path, the crypto neighborhood watches intently, hoping for smoother waters forward.
As of the most recent information from CoinGecko, the SEI token is priced at $0.161792, reflecting a 5.5% decline within the final 24 hours. The community’s journey, marked by each pleasure and setbacks, underscores the unstable nature of the crypto area and the challenges related to launching bold initiatives.
Featured picture from Dreamstime
