aPriori Refutes Insider Role Amidst Claims of Airdrop Manipulation

Summary:
Web3 startup aPriori has addressed investor concerns over suspicious activity related to its recent token airdrop, denying any involvement from its team. A significant portion of the airdrop appears to have been claimed by a single entity using numerous wallets, raising alarms about possible manipulation in the distribution process.

Key Takeaways

aPriori denies insider roles in the airdrop amid claims that a single entity claimed 60% of the tokens.
The unusual claiming pattern, noted by blockchain analytics, suggests potential Sybil farming.
aPriori has updated criteria for their airdrop distribution, focusing on "social contribution."
The startup experienced mixed reactions from the crypto community over concerns about airdrop manipulation.

Web3 startup aPriori released a statement on Friday addressing suspicious activity tied to its recent airdrop, clarifying that none of the team members were involved. This response was prompted by investor worries that one entity had claimed an overwhelming 60% of the aPriori (APR) token airdrop across 14,000 interconnected cryptocurrency wallets. According to Bubblemaps, a blockchain analytics platform, this pattern resembles Sybil farming, whereby an individual uses multiple wallets to increase their share of rewards.

In an effort to benefit "genuine users," aPriori had softened eligibility requirements for its Monad Mainnet airdrop. However, the company emphasized that they found "no evidence" indicating that anyone associated with the contributing team or the foundation had claimed the airdrop. Cointelegraph reached out to aPriori for further clarification but was unable to verify the identity of the cluster's wallet.

Source: aPriori

Nick Vaiman, the CEO of Bubblemaps, criticized aPriori's initial response as "dismissive." He pointed out that the company suggested a possible leak of information might have allowed someone to exploit the airdrop. "They’re saying there was a leak and someone used that info," Vaiman explained to Cointelegraph.

Founded in 2023 and based in San Francisco, aPriori raised $20 million in August to enhance its trading infrastructure platform. Investors included Pantera Capital, HashKey Capital, and Primitive Ventures, contributing to a total funding of $30 million.

aPriori denies insider role as mysterious entity claims most of APR airdrop

Changes in Airdrop Allocation

APriori has modified the framework for the airdrop allocation, indicating that it will primarily be determined by “social contribution,” according to the announcement.

The startup also increased the unlock percentage of the airdrop allocation from 12% to 15%, enabling users to claim an additional 3% of their airdrop allocation when the Monad mainnet launches on November 24. According to aPriori’s revised technical documentation, the remaining 85% will be accessible six months after the mainnet's launch.

APR token claim on Monad Mainnet. Source: aPriori

To unlock the full airdrop allocation, users must deposit assets equal to 10 times the value of their airdrop for a period of 14 days.

Investor Reactions and Industry Sentiment

Responses from crypto investors following aPriori's announcement were mixed, as many expressed skepticism regarding the lack of clarity in the internal investigation. One investor, IbrahimXBT, voiced concerns about potential manipulation, stating, “Second phase of rug is coming. They’re literally paying botters to hype them up rn,” in a Friday X post.

Source: IbrahimXBT

Conversely, other community members showed support for the aPriori team, attributing the airdrop issues to professional airdrop farmers. A response from investor FastLife noted, “This is 100% false; the FUD is orchestrated by a competing entity,” further adding that it was the fault of airdrop farmers.

In the world of cryptocurrency, professional airdrop farmers specialize in engaging with new protocols solely for the airdrop benefits, commonly utilizing multiple wallets to enhance their rewards. Notably, airdrop farmers gathered $3.3 million from the Arbitrum ARB airdrop in March 2023, consolidating from 1,496 wallets down to just two controlled ones.

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