MilkyWay Opened The Tap And $MILK Reached The Community

4 days ago

I am milking the Cosmos ecosystem through MilkyWay for over an year! I've got my mPoints, I climbed the leaderboard, I've completed tasks and engaged even on Zealy... but the reward I expected didn't even made me smile!

The team highlights that MilkyWay has quickly evolved from an idea on paper to a significant player in the decentralized finance ecosystem. Was not just about creating a platform, but about sparking a movement that seeks to transform how decentralized validation and staking work.

Did it worked? The project behind $MILK has been exposed for its misleading promises and changes in tokenomics. Initially, the project promised a 10% airdrop to mPoint holders, but this was reduced to just 2%, and further split between NFTs and the initial testnet! This move left only 1.5% allocated to mPoints.

Binance, which was promised 4% of the total supply, received 2% at TGE and another 2% later! The amount is more than the mPoints allocation, showing that the early milkers where rugged! However, Binance hasn't even listed $MILK on spot markets!

Since its inception, the protocol secured a Total Value Locked of $26.65 million in Restaking but was this reflected in the TGE? I was so curious about my allocation, considering I've done a fair amount of tasks! Are you ready?

I restaked, added liquidity on Demex, done DeFi activity, played on the Milkympics, done stuff and even got bonus points! I managed to accumulate 1,517 points and secure a 83,469 global rank, and my bottle was nearly empty!

My allocation was 119,26 $MILK tokens, and only 23.85 claimable! What kind of sorcery is this? I read about and the allocation will be distributed in four phases, but comes with more tasks and weird criteria!

So the $MILK airdrop for eligible participants, including mPoint holders, Moolitia NFT holders, and milkINIT testers, will be distributed in not one or two... but four phases. Phase 1 allows immediate claiming, while Phases 2, 3, and 4 unlock the tokens over 90, 182, and 364 days.

However, the tokens are not yours... and the never-ending $MILK saga will continue! Therefore the total of 10% of the supply is allocated for the airdrop could be even lower, due to the long-term unlocking schedule to promote ongoing engagement.

It's getting worst! To qualify for the second phase of the airdrop I must stake at least 10 $MILK tokens with the validators for the 2-months period from the TGE! Basically I am eligible for tokens but I will not get them unless I stake! WFT MilkyWay?

It looks like the community is milked... and the airdrop that never happened... finally happened but it's still not happening! The vibe around the $MILK airdrop is largely negative, with many participants feeling misled and disappointed.

The milkers feel they’ve been “rugged” due to several key issues, such as the reduction of the 10% promised supply to just 2%. The amount was further diluted when divided between NFTs and the initial testnet, leaving mPoint holders with only 1.5%.

Additionally, the total supply of $MILK was quietly increased from 100 million to 1 billion tokens, which severely diluted the value of their holdings. This combination of broken promises, sudden changes to tokenomics, and lack of transparency has led to $MILK getting sour!

I say fuck it to all this! Claimed my share and stake it... because what I've got is a joke anyway. Maybe $MILK will go mad over the next 364 days, and I will be able to claim the remaining allocation. Who knows... maybe the next task will be to discover time travel!