Airdrop Ethics: VC Firm Draws Ire Following $2.5M Ribbon Finance Exploit

Posted on by American Coins & Gold

Airdrop Ethics: VC Firm Draws Ire Following .5M Ribbon Finance Exploit
On Friday afternoon, decentralized finance (DeFi) users discovered that a researcher for Divergence Ventures, a crypto venture firm, was receiving hundreds of ETH from wallets selling recently-airdropped RBN tokens – a sign of an airdrop exploit that Divergence later admitted to.The episode presents the largely unregulated, permissionless DeFi community with yet another chance to debate the nature of fair play in an increasingly powerful, $200 billion-dollar ecosystem where the only governance is on-chain rules and some modicum of common sense.“Airdrops” are a token distribution method that allows users to claim tokens if they’ve completed certain actions or fulfill other parameters,…