The threshold for the Binance Alpha airdrop has surged from 200 points to 260 points, an increase of up to 30%, causing countless retail investors to lose sleep.
'After earning points for 10 days, I saw the 260-point threshold and just didn't want to do it anymore,' a crypto user lamented in the community, reflecting the common mentality among current Alpha point players.
On August 27, the Dolomite (DOLO) airdrop launched by Binance Alpha raised the threshold to 260 points in one go. Although the second phase on the 28th dropped to 230 points, it remains a recent high.
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01 The reality of high thresholds, the cruel calculation of costs and benefits
The surge in the threshold for Alpha airdrops did not happen suddenly. Looking back at history, this number has gradually risen from a lower level in April 2025 to 137 points in May, 233 points in June, and then to 260 points by the end of August.
For ordinary users, 260 points is a daunting number. To accumulate this score, users need to earn about 18 points every day for 15 consecutive days.
The main way to earn points is through asset holding and token purchases. For every $2 spent on Alpha tokens, you can earn 1 point, and for every doubling, you earn 1 additional point (3 points for $8, 10 points for $1024).
Ordinary players face not only time investment but also tangible economic costs. The normal daily operation 'wear and tear fee' (including small transaction fees and gas fees) is about $3, with a hard cost of at least $45 over 15 days.
02 The crisis of user attrition, a warning as 100,000 have left the scene
The user attrition caused by the high threshold is no longer a prediction, but a reality that is happening.
According to Dune data, the number of Alpha trading users plummeted from a peak of 233,000 on June 12 to 195,000 on June 15, losing nearly 40,000 users in just three days. By mid-June, the actual number of users trading on the platform had further shrunk to 70,000.
This 'cliff-like resignation wave' reflects a significant decline in user enthusiasm and willingness to participate. The marginal cost of earning points has significantly increased, and the cost-effectiveness of the Alpha game is rapidly deteriorating.
A user who suffered losses during the ZKJ crash stated: 'The input and output are disproportionate. After being squeezed a few times, it feels pointless. Today, all my accounts received the basic income and withdrew.'
03 Ecological balance, the official's difficult choice
Faced with user attrition, the officials are facing a difficult balance.
On one hand, the platform needs to raise the points threshold to filter out truly active users while curbing the behavior of bots earning points. In June 2025, Binance announced an upgrade to its risk control system, prohibiting the use of any automated tools.
On the other hand, the platform also needs to maintain sufficient user engagement. The success of Binance Alpha has prompted other exchanges to follow suit, with trading platforms like Kraken and Bithumb recognizing Alpha's model and potentially launching similar activities.
The Alpha ecosystem is undergoing a transformation: from a point-earning arbitrage tool to an incentive mechanism that gradually emphasizes real interaction and value capture. This means that point acquisition will no longer only focus on trading volume or LP amounts, but will increasingly tilt towards holding duration, interaction depth, and real demand.
04 The plight of retail investors, sunk costs and decision anxiety
For users who have already invested a lot of time, the dilemma is between sunk costs and future benefits.
A user candidly said: 'I already have a sunk cost of 200 points from the early stage. If I give up, it would be like throwing everything away. And if a good project comes to Alpha later, I could recover my costs in one wave.'
This mentality has led many users to stubbornly hold on even when profits decline. They worry that if they leave, they will miss the next high-yield airdrop, making their previous investments worthless.
However, the risks of continued participation cannot be overlooked. In addition to the aforementioned trading wear and tear costs, users also face the MEV (Miner Extractable Value) problem. Some users experienced a squeeze while trading KOGE/USDT, where a single transaction cost them $47,000, spending $47,000 USDT to buy only 0.009 KOGE, with a cost per KOGE reaching $5.18 million.
05 The airdrop on the 29th is a critical watershed for decisions on staying or leaving
The upcoming airdrop on the 29th has become a key decision point for many users.
According to reports, Binance Alpha will launch CeluvPlay (CELB) on August 29. This is a decentralized entertainment network that integrates blockchain and AI technology.
Users face complex decisions: if the threshold continues to be maintained above 230 points, with a cost calculation of $45 over 15 days, even if they receive the airdrop, the break-even period will be extended. Many retail investors who have been earning points for several days but have not met the standard may directly 'resign.'
If the threshold drops below 200 points, it may retain a group of 'hesitant to withdraw' users and even attract new users to enter, temporarily delaying the wave of resignations.
Regardless of the outcome, the phenomenon of high thresholds for Alpha airdrops has already impacted the entire retail investor ecosystem in the crypto space. Some users have begun to shift their focus to opportunities on other platforms or concentrate on higher quality but fewer airdrop projects.
