Cambria's Token Fell 74% on Day One, and Its Founder Saw It Coming
RSGP launched with a quarter of its supply unlocked and an airdrop that reached traders more than players. Inside a token launch that went exactly as badly as its design predicted.
On its first day, 4,504 wallets sold Cambria's new token. Only 835 bought. By the end of the day, the price was down 74% from where it opened. For most projects that would be a disaster. Cambria's founder had more or less predicted it.
Cambria launched its RSGP token on 29 October 2026 on Base, an Ethereum layer-2 network, through the Aerodrome decentralised exchange. It opened at $0.0068, fell to an overnight low of $0.0015 and traded at $0.0019 a day later. First-day volume was about $1.36 million, and the fully diluted valuation, the value of every token that will ever exist at the current price, was around $9.3 million.
What RSGP is for
The founder, who posts as cyberpunk and is known as Ben.ZZZ, describes RSGP as the asset that owns the game's economy and treasury, comparing its role to Axie Infinity's AXS. A share of game revenue is meant to go to buybacks and rewards for holders. Its Dungeon Fishing game is said to bring in about $1 million a year.
Why it fell
Three design choices made the drop close to inevitable:
- A big day-one float. About 25% of the 5 billion total supply circulated from launch, fully unlocked, including a 15% "Genesis" airdrop.
- An airdrop that reached traders. Many recipients said they had qualified through activity on trading platform Hyperliquid and prediction market Polymarket rather than by playing Cambria, typically receiving tokens worth $7 to $13. Small, free allocations to people with no attachment to the game are usually sold quickly.
- Two years of points. The founder said the full unlock was intentional, describing "a lot of airdrop overhang from 2 years of points programs". In other words, better to let the selling happen at once than drip it out for months.
How airdrops are supposed to work
An airdrop is a free distribution of tokens, usually to early users, meant to turn them into owners with a stake in the project's success. It works best when the people receiving tokens already care about the product: they hold, they play, they vote. It works worst when tokens land with people farming many projects at once, who treat each airdrop as a small cash prize to collect and sell.
Points programmes, where users earn points for activity that later convert into tokens, add a second problem. The longer they run, the more people pile in purely for the expected payout, and the bigger the queue of sellers on launch day. Cambria ran points for about two years, and the first-day trading pattern shows what that queue looks like.
The Charter NFTs
Cambria also sells Charters, 4,096 founding licences needed to play its Genesis mode fully. On launch day they traded 168 times for 8.5 ETH, about $18,800, in total volume, but their floor price slipped to 0.039 ETH, about $87, from around $155 earlier in October.
WGC's take
Cambria's launch is a textbook case of how airdrops can backfire. Rewarding activity on other platforms brought in holders who had no reason to stay, and two years of points created a wall of supply waiting to be sold. The founder's honesty about that is refreshing, and taking the hit at once may be healthier than months of slow bleeding. But it is a reminder for players: a token that pays you for showing up is usually worth the least on the day you receive it. Token prices are volatile, and nothing here is advice; Cambria's game, not its chart, will decide whether RSGP holders stick around.