It’s honestly frustrating how the $NIGHT situation played out on Binance!!!
A lot of users were eligible for the Midnight snapshot, holding their assets on Binance at the time, assuming they’d receive whatever airdrop came with it just like with many previous distributions.
But when $NIGHT rolled out, nothing showed up for many of those holders.
Technically, exchanges control the private keys, so they control whether or not they distribute airdrops.
But from a user’s perspective, if you held the assets and qualified during the snapshot, it feels like that ownership should follow you not stay with the exchange.
When an exchange doesn’t pass along an airdrop tied to user held funds, it creates the impression that the value was captured internally instead of going to the actual eligible holders.
And in crypto, where ownership and transparency are everything, that leaves a bad taste.
At the end of the day, users just want clarity: if we’re eligible, distribute it. If not, communicate it clearly