Airdrop Economics: Cost, Dilution, and Community Alignment

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An airdrop looks "free" to the recipient, but it is never free to the protocol — every token given away is a token that dilutes every other holder and represents real opportunity cost against alternative uses (treasury runway, liquidity incentives, strategic partnerships). Thinking about airdrops in pure economic terms, rather than pure marketing terms, is what separates a sustainable distribution……

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