On January 16th, Beijing time, the crypto industry was shaken once again. The popular InfoFi narrative that has been hot since last year suddenly collapsed. Kaito, Cookie, and others announced the shutdown of InfoFi-related products and attempted to pivot, with token prices plunging nearly 20% at one point.
All of this stemmed from a tweet by X product director Nikita Bier. Nikita Bier stated that the team is revising the developer API policy, which will no longer allow applications that reward users for posting on the X platform (such as “infofi”). This has led to an influx of AI spam and reply spam on the platform.
“We have revoked API access for these applications, so your X experience should start to improve soon (once the bots realize they are no longer being rewarded),” said Nikita Bier.
Since most InfoFi projects rely on the X product API to fetch user tweet data and determine reward schemes, once the API is discontinued, the vast majority of content from these products will cease to be updated, losing their fundamental basis.
An hour after the announcement, projects like Kaito and Cookie quickly issued response statements on their official accounts, indicating they had anticipated and prepared for this situation. Let’s first see how they specifically responded.
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InfoFi narrative collapses, Kaito, Cookie, and others consecutively shut down related products
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Author: Gu Yu, ChainCatcher
On January 16th, Beijing time, the crypto industry was shaken once again. The popular InfoFi narrative that has been hot since last year suddenly collapsed. Kaito, Cookie, and others announced the shutdown of InfoFi-related products and attempted to pivot, with token prices plunging nearly 20% at one point.
All of this stemmed from a tweet by X product director Nikita Bier. Nikita Bier stated that the team is revising the developer API policy, which will no longer allow applications that reward users for posting on the X platform (such as “infofi”). This has led to an influx of AI spam and reply spam on the platform.
“We have revoked API access for these applications, so your X experience should start to improve soon (once the bots realize they are no longer being rewarded),” said Nikita Bier.
Since most InfoFi projects rely on the X product API to fetch user tweet data and determine reward schemes, once the API is discontinued, the vast majority of content from these products will cease to be updated, losing their fundamental basis.
An hour after the announcement, projects like Kaito and Cookie quickly issued response statements on their official accounts, indicating they had anticipated and prepared for this situation. Let’s first see how they specifically responded.
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