Community Opposes Binance Alpha: “This Is Not Web3”

In a powerful and emotionally charged open letter that quickly went viral on social media platform X, a veteran member of the Web3 community publicly criticized Binance Alpha — the platform’s program encouraging users to accumulate Alpha Points in exchange for token allocations from newly listed projects. The letter, far more than a personal complaint, served as a wake-up call for the entire crypto industry.

A Pioneer’s Provocation

Penned by an anonymous author who described themselves as a long-time Web3 builder, the letter opens with a piercing question:

“Is Binance building the future of decentralized finance, or has it become a monopolistic machine squeezing the very community that helped it rise?”

The author claims that Binance Alpha, once marketed as a gateway to promising projects, has devolved into a harsh pay-to-play system. Users are forced to grind Alpha Points at high intensity, pay steep transaction fees, and yet the reward is often nothing more than a chance. What’s worse, early supporters — the ones who joined during testnet phases, created memes, wrote articles, and organized events — are now being overshadowed by newcomers who simply showed up once for a snapshot.

“Alpha is no longer an opportunity. It’s a glorified gacha game, where users are exploited. This is not Web3 — this is Web2.5 with an expensive VIP pass,” the author laments.

Trust Eroding, Pressure Mounting

The community echoed frustrations: Alpha Point requirements have become unreasonable, fees are skyrocketing, and yet the outcome is often zero, despite weeks of effort. With a reward structure lacking transparency and reliant on luck, Binance Alpha stands accused of undermining the core principles of Web3: decentralization, fairness, and openness.

The author pointedly asks:

“Are you here to build the future of finance or just to run a casino for token chasers?”

Related: Telegram Dismantles the Largest Darknet Marketplace Ever Existed

A Warning to the Entire Industry

The letter is not just directed at Binance — it’s a warning to all Web3 projects choosing to take a shortcut to listing via Alpha campaigns. The author argues:

“Alpha Points don’t build loyalty. Only community does.”

Projects that rely on flashy launches and weak tokenomics risk losing their most valuable asset — community support.

Back to the Roots

The letter ends with a passionate plea for the industry to return to its roots: breakthrough technology, loyal communities, and sustainable growth.

“Stop turning Web3 into a game for short-term hunters,” the author emphasizes.

A Call to Action — and a Warning

In a striking conclusion, the author delivers both a plea and a threat:

“Binance, become the leader the community once believed in. Stop making people pay just to dream of opportunity. Empower them to help build the future of decentralized finance.”

But also:

“If not, the next Alpha won’t come from your campaign — it will come from an uprising you yourselves have ignited.”

The letter rapidly gained traction on X, racking up thousands of shares and sparking widespread debate. The hashtag #StopBinanceAlpha trended, fueling intense discussions on the role of community campaigns in the crypto space. Many users shared their own frustrations with Binance Alpha, while others called on major exchanges to be more transparent and equitable in their community engagement efforts.