Back in September 2021, a small cryptocurrency project called Smartlink a decentralized escrow platform built on the Tezos blockchain for Web 3.0 transactions ran an airdrop through CoinMarketCap. They promised $20,000 worth of their native token, SMAK the utility and governance token of the Smartlink platform, to anyone who completed a few simple steps. It looked like an easy win - sign up, follow their socials, and get free crypto. But what happened after that? And why does SMAK barely trade today?
What Was the SMAK X CoinMarketCap Airdrop?
The airdrop wasn’t some shady side project. It was hosted directly on CoinMarketCap, one of the most trusted crypto data platforms. Millions of users check CoinMarketCap daily for price updates, market caps, and airdrop alerts. Smartlink knew this. They timed the campaign to run from September 13 to September 23, 2021, right in the middle of the DeFi boom. The goal? Get eyes on their platform and build a user base.
Participants had to:
- Have a CoinMarketCap account
- Follow Smartlink’s official Twitter and Telegram channels
- Join their Discord server
- Complete a short survey about Web 3.0 escrow services
That’s it. No KYC. No deposit. No wallet connection. Just basic engagement. Around 15,000 people completed the steps and received SMAK tokens - roughly 1,300 tokens each, based on the $20,000 total allocation. For many, it was their first taste of a real airdrop. For Smartlink, it was a chance to turn casual followers into active users.
How Smartlink Was Supposed to Work
Smartlink wasn’t just another meme coin. It had a real use case: decentralized escrow a service that holds funds securely until both parties fulfill their obligations in a transaction. Think of it like PayPal’s buyer protection, but without a central company. If you’re buying a used NFT, renting a digital service, or paying a freelancer, Smartlink would hold your payment until you confirm delivery. Only then would the funds release.
The platform offered three main services:
- Smartlink Escrow Service - for C2C, B2C, and B2B deals
- Smartlink Payment Processing - a decentralized gateway accepting multiple cryptocurrencies
- Smartlink Marketplace - a peer-to-peer store for digital goods and services
All of it ran on the Tezos blockchain a proof-of-stake network known for low fees and energy efficiency. That made sense. Ethereum was expensive. Solana was unstable. Tezos offered stability and scalability. Smartlink even promised that holding SMAK tokens gave users fee discounts and staking rewards. It was a solid idea - on paper.
Why the Airdrop Failed to Build Momentum
Here’s the problem: the airdrop attracted users, but not users who cared about escrow.
Most people who claimed SMAK tokens in 2021 didn’t care about secure transactions. They cared about flipping crypto. They bought SMAK on the day of the airdrop announcement, claimed their tokens, and sold them immediately. There was no incentive to use the platform. No real product to engage with. No clear way to interact with the escrow system. The website was clunky. The documentation was thin. And there were no integrations with popular marketplaces or payment tools.
By late 2022, the Smartlink platform had barely any active users. No major creators, no businesses, no NFT marketplaces adopted it. The team didn’t release updates. No new features. No marketing. Just silence.
Compare that to other escrow projects like Escrow.com a centralized service used by high-value buyers and sellers or even decentralized alternatives like Mesa a Web3 escrow protocol built on Solana. They had real partnerships, clear use cases, and active communities. Smartlink? Nothing.
The Price Crash: From The Price Crash: From $0.0024 to $0.000113
.0024 to The Price Crash: From $0.0024 to $0.000113
.000113
The numbers tell the real story.
In October 2021, shortly after the airdrop, SMAK hit a high of $0.0024. A year later, it was down to $0.00013. By early 2025, it was trading around $0.000113 - a drop of 94.6% from its peak. That’s not a market correction. That’s a collapse.
And it’s not just the price. Trading volume is almost zero. On most days, the 24-hour volume is $0.00. That means no one is buying or selling. Even Gate.io, one of the few exchanges that lists SMAK, shows almost no activity. The circulating supply reported by CoinMarketCap says 305 million SMAK tokens are out there. But other sources claim the supply is zero. Which one’s right? No one knows.
This kind of confusion kills trust. If users can’t verify how many tokens exist, why would they hold them? Why would anyone build on top of a platform with such opaque economics?
What Went Wrong? The Real Lessons
Smartlink didn’t fail because of bad tech. Tezos was fine. The escrow model made sense. The airdrop was well-executed. So what happened?
- No product-market fit - People didn’t need another escrow service. Existing tools worked fine.
- No community building - They didn’t engage users after the airdrop. No AMAs, no updates, no roadmap.
- No real utility - Holding SMAK didn’t give you anything useful. No discounts, no governance power, no access.
- No partnerships - No integrations with NFT marketplaces, freelance platforms, or DeFi apps.
- No transparency - Supply numbers changed. Team vanished. No GitHub commits. No Twitter posts.
The airdrop worked. It got them 15,000 users. But they didn’t turn them into users. They turned them into speculators. And once the free tokens were sold, the project had nothing left.
Is SMAK Still Active?
As of February 2026, Smartlink appears dormant. The official website is still up, but it hasn’t been updated since 2022. The Discord server has fewer than 50 active members. The Twitter account last posted in November 2023. No new token listings. No new features. No press releases.
There’s no official announcement of shutdown. But there’s also no sign of life. It’s a ghost project.
If you still hold SMAK tokens, they’re worth about 11 cents per 1,000 tokens. Not enough to cover gas fees if you try to move them. The only way to get rid of them is to give them away - and even that’s risky, since most wallets won’t even show the token anymore.
What Can You Learn From This?
The SMAK airdrop is a textbook case of how not to launch a crypto project.
Airdrops aren’t magic. They don’t create value. They create awareness - and only if you have something worth using.
If you’re thinking of running an airdrop:
- Build the product first. Then run the airdrop.
- Give tokens real utility - not just “hodl and wait.”
- Engage your users. Answer questions. Update them. Listen.
- Don’t rely on CoinMarketCap to carry you. It’s a directory, not a launchpad.
- If your token’s price drops 90% in a year, you’ve got a problem - not a market cycle.
Smartlink had the right idea. They just didn’t execute it. And in crypto, execution beats theory every time.
Was the SMAK airdrop legitimate?
Yes, the SMAK X CoinMarketCap airdrop was legitimate. It was hosted directly on CoinMarketCap’s official airdrop page in September 2021. Participants received real SMAK tokens after completing simple tasks. However, while the distribution was real, the underlying project failed to deliver long-term value, making the tokens essentially worthless today.
Can I still claim SMAK tokens from the airdrop?
No. The airdrop campaign ended on September 23, 2021. The claiming window is long closed. Even if you completed the steps back then, the tokens were distributed automatically to your registered wallet. If you didn’t receive them, there’s no way to recover them now.
Why did SMAK’s price crash so hard?
SMAK crashed because the project had no real users, no product updates, and no ecosystem growth. The airdrop brought in speculators who sold immediately. Without ongoing development, partnerships, or utility for the token, demand vanished. By 2025, trading volume hit $0.00, signaling total market abandonment.
Is Smartlink still operating?
There is no evidence Smartlink is still operating. The website hasn’t been updated since 2022. The team has not posted updates, responded to community questions, or released new code. The project appears abandoned. No official shutdown notice has been issued, but all signs point to inactivity.
Should I buy SMAK tokens now?
No. SMAK has no trading volume, no development, and no clear use case. The token trades on only one exchange (Gate.io) with almost no liquidity. The price is near zero, and the supply is unclear. Buying SMAK now is not an investment - it’s gambling on a dead project.
What blockchain is SMAK built on?
SMAK is built on the Tezos blockchain a proof-of-stake network known for low transaction fees and energy efficiency. Tezos was chosen for its scalability and security, making it suitable for decentralized escrow services. However, the choice of blockchain didn’t compensate for the lack of product adoption.
What was the purpose of the SMAK token?
The SMAK token was designed to serve three purposes: pay for escrow service fees (with discounts for holders), earn staking rewards, and vote on platform upgrades. In theory, it was a utility and governance token. In practice, none of these functions were ever fully implemented or used by the community.
Are there any alternatives to Smartlink today?
Yes. For decentralized escrow, projects like Mesa a Web3 escrow protocol on Solana and Escrow Protocol a multi-chain escrow solution have gained traction. Centralized options like Escrow.com a trusted third-party escrow service for high-value transactions still dominate the market. Smartlink never competed effectively with any of them.
1 Comments
Let’s be real - SMAK was a textbook case of airdrop theater. 15k people claimed tokens, zero of them gave a fuck about escrow. It’s not that the tech was bad - Tezos is solid - it’s that nobody saw a reason to use it. You don’t build a DeFi product and then treat the airdrop like a free crypto lottery. People aren’t users, they’re speculators until you give them a reason to stay.
Smartlink didn’t fail because of execution. They failed because they confused attention with adoption. CoinMarketCap doesn’t create demand. It just shows you where the herd is stampeding. And in this case, the herd ran straight off a cliff.