Community upset as DED memecoin cuts airdrop allocation

A new memecoin launched on the Polkadot (CRYPTO:DOT) blockchain attracted significant attention from airdrop enthusiasts, amassing over 20,000 participants in its Telegram channel within days.

However, excitement turned to disappointment as the promised airdrop allocation was dramatically reduced from 100% to just 5%.

Giotto De Filippi, the pseudonymous developer behind the memecoin, defended the decision, citing the need for a more sustainable project runway during a discussion on March 24.

Tensions escalated on March 23 when DED, the token in question, became a trending topic on social media platforms, sparking backlash within the Polkadot community.

The memecoin's launch aimed to capitalize on the popularity of such tokens to boost visibility for the Polkadot ecosystem, offering DOT holders an incentive of 36 DED tokens per DOT owned, a promise that was met with disappointment following the sharp reduction in the airdrop distribution.