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.

Telegram: t.me/ktvcchannel

Youtube: youtube.com/@tcbavn

So, airdrop hunters, it's time to grind again. We can't just look at trendy projects with massive VC funding and expect big airdrops and success. We need to analyze and gauge the fundamental potential of projects and stay updated on technological trends. 🥲