When it comes to the fate of altcoins, most cannot escape the curse of returning to zero. Whether the project claims to focus on payments, privacy, or building a public chain, only a few survive—most are just air beyond Bitcoin and Ethereum. The XPL project is no exception to this rule.

Last September, XPL launched a wealth management activity on a major exchange, where depositing $10,000 would earn a 1,000 USDT airdrop. At that time, on-chain deposit rewards were even more generous—interacting casually could yield tokens worth one or two thousand USDT. Many people benefited from this wave of rewards, including myself—I participated and ended up with over 900 tokens, which I sold later at a low point for 700 USDT, not too bad. The Alpha activity by the major exchange was even more widespread, with almost everyone able to earn over $100 in returns.

But looking at the token price is quite awkward. It started at $1.5 and plummeted to $0.15, a nearly 90% decline. Honestly, if the project team saw this trend, they probably wouldn’t dare to speak out.

That said, the project team for XPL has indeed spared no effort in airdrops—though in the crypto world, true "conscience" is often just about pumping the price. Regardless of the price, each round of airdrops has been quite generous. Recently, they partnered with a major exchange, Square, to conduct a 7 million token airdrop. Interested users can participate through Square’s task board.

Essentially, XPL aims to build a low-Gas, high-efficiency payment public chain. But honestly, at this point, it might be a bit early to talk about PayFi. The main users of the crypto community are overseas, and the existing centralized payment solutions are already very mature. It’s quite difficult for a public chain to break into this space.

Hopefully, XPL can turn the tide and give those caught at high levels a chance to recover. If you have any thoughts, feel free to leave comments below.