Venom, a multi-blockchain network aiming for high transaction speeds and low fees, has found itself embroiled in controversy. Despite raising a cool $1 billion and boasting a Proof of Stake (PoS) consensus mechanism for security, the project is facing accusations of failing to deliver on its promises.
At the heart of the issue lies a community airdrop. According to Venom's documentation, 22% of all tokens were allocated to the community and 10% unlock at TGE, specifically those who actively participated in their testnet. However, after years of support, many community members claim to have received nothing, while others were left with what they call "worthless NFTs." The utility of these NFTs remains unclear, further frustrating community expectations.

Faced with growing discontent, the Venom Foundation took the controversial step of muting their Discord channel, seemingly to prevent the spread of negative sentiment (FUD). This action backfired spectacularly, fueling the flames of outrage. Community members took to Twitter, with #VenomScam trending as users aired their grievances.

The current situation paints a bleak picture for Venom. A project that promised innovation and community empowerment now stands accused of broken promises and disregard for its core supporters. Whether Venom can weather this storm and regain the trust of its user base remains to be seen.
Will this and some of the recent projects that faced backlash in the recent AirDrops such as Starknet serve as a firm example on how future projects should treat the community that supported them from the get go ? Comment your opinions down below. 

#Lcademy #BlockchainJob #cryptojobs #Kolcrypto