Airdrops will trend toward advertisements at the limit.

Large airdrops are the result of poor targeting tools. Inefficient spend for the project (but very good if you're in the lucky few that got a big one).

Reality is projects are trying to bootstrap usage and rentention. You want to maximize $ for usage. And retroactive doesn't really solve retention.

Finally, if you increase the number of tokens by 1000x, there's less money to chase each airdrop. So market caps detached from fundamentals (and other low float high FDV gimmicks) will be far less common.

Will take a while for this to shift, but expect the median airdrop to get smaller over time (with more people getting them).

it’s all CAC < LTV?
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