Juicy Crypto Income
@kiemthemcrypto
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I don't think the success of a crypto project correlates with VC fundings.
Today, I found an example: Jito, a Liquid Staking Protocol on Solana that increases yields through MEV revenue. According to crypto-fundraising.info, Jito Labs only raised $10 million in Series A funding in August 2022.
However, Jito became one of the largest airdrop projects on Solana. In December 2023, they airdropped tokens worth $439 million, with an average airdrop value of $10,000 per wallet.
Not only was the airdrop significant, but the project's growth and success didn't rely on massive VC funding. Jito currently has the highest TVL on Solana ($1.658 billion), leading all DeFi protocols on the network.
Another successful and 'obvious' example is Uniswap. Although it raised $165 million in VC funding in October 2022, its initial TGE and airdrop in September 2022 happened before this funding. Uniswap actually started with a relatively small Series A funding of $11 million. 1 reply
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