CT was flooded with airdrop tier lists in January. We're at the end of Q1 now. Not a single S-tier project has shipped their token. OpenSea delayed SEA indefinitely. Monad gave the community 3.3% after three years and prioritized KOLs over actual testers. 84% of 2025 token launches trade below TGE. 88% lost value within three months. ICOs are quietly replacing the model because projects realized airdrops attract sellers, not buyers. So why does anyone still farm? Because in an extreme fear market (Fear & Greed at 10–19, lowest since 2022), farming feels like the only asymmetric bet left. And honestly? They're not entirely wrong. The B/C-tier projects that actually shipped are quietly paying out while everyone waits for S-tier glory that never comes. The airdrop meta isn't dead, but tier lists are not a strategy. Pick projects with real products and real catalysts, or be someone else's exit liquidity. x.com/18226569814185/182265698...…

there are protocols that never reach TGE