RGB Protocol Mainnet Airdrop Slows Amid High Fees
After two years of development, Bitlight Labs has launched the RGB protocol on Bitcoin’s mainnet, enabling off-chain smart contracts sealed in UTXOs with client-side validation. To drive adoption, the team airdropped 21 million RGB test tokens, but strict limits of 50 tokens per claim, 420,000 required claims and mandatory fees of 0.00003636 BTC (≈$4) have slowed distribution to under 20% after 17 hours. The accumulated fees (potentially $1.68 million) plus additional gas costs for container creation have sparked user frustration and FUD, dampening early market sentiment. While the RGB protocol showcases Bitcoin layer-2 innovation, its complex setup and protracted rollout underline challenges that may influence future trading strategies for smart-contract projects on Bitcoin.
Bearish
The slow uptake and high fees of the RGB protocol airdrop have generated user frustration and FUD, reducing early liquidity and market enthusiasm. In the short term, traders may avoid engagement due to transaction costs and complexity, leading to low trading volume and downward pressure on sentiment. Over the longer term, confidence in Bitcoin layer-2 smart contracts could be eroded if distribution issues persist, prompting investors to reassess risk and potentially delay participation in similar projects.