Cookie didn’t exactly plan to stop their campaigns. They got clotheslined by platform reality. Everything was cruising along in the InfoFi era, where attention itself became a commodity.
Cookie’s campaigns were built around rewarding people for posting, engaging, and spreading information on X. It was messy but attention flowed in, tokens flowed out, and $COOKIE had a clear reason to exist in the wild.
Then Nikita Bier stepped in. When X decided to ban InfoFi-style mechanics... it was the death of InfoFi! The API door slammed shut, and with it went the entire incentive layer that projects like Cookie relied on.
Overnight, engagement-for-rewards went from “innovative growth hack” to “explicitly not allowed.” We had no grace period and just like that Cookie stopped all their campaigns!
Cookie didn’t rug, didn’t vanish, didn’t pretend nothing happened. They pulled the plug on campaigns because they had to... but it was still unexpected and with no backup plan!
Running them without X access would’ve been like trying to host a concert after the venue locks the doors and cuts the power. The core loop was broken, and pretending otherwise would’ve been worse.
I started using Cookie in the summer, and went well for a while ... but then I stopped getting snaps! I wanted to take part in campaigns and earn rewards but the algo sucked... honestly!
When this happened, I was top 200-300 in all campaigns... but zero snaps since July-August made me drop out of the prize pool in most of them. I ended up with a $20 reward from OpenLedger and $35 from Elympics.
I openly said that the old algo sucked badly... and a change was needed! This happen but that's a story for the second part of the article. Now let's focus on my CT wrap-up on Cookie!
On top of those $50 I've got from few campaigns, I was top on the Almanak campaign... but that's another soft rug! My tokens dropped even before the claim went live!
What was supposed to be $1000 or more... is not valued $50 and going down! What makes it hurt isn’t just the number... it’s why it happened. This wasn’t slow decay or bad execution.
Now... call me Mr.Investor... and watch how I've got rugged! Cookie’s biggest strength turned into its biggest vulnerability the moment X changed the rules.
Whether this becomes a cautionary tale or a comeback arc depends entirely on what Cookie does next. If they can rebuild utility off-platform or reinvent how the token captures value, this chapter becomes “the dip before the pivot.” If not, then this will be remembered as the moment InfoFi learned how fragile it really was.
If you want, I can rewrite this again to be even more casual, turn it into a Twitter thread, or run scenarios like “what price do you need just to break even?”
That shockwave hit the token fast and the numbers tell their own story. I put 5,500 USDC into 80,300 $COOKIE. That means my average entry was about $0.0685 per token.
At the time, that probably felt reasonable... campaigns were live, attention was flowing, and the InfoFi narrative was hot. Fast-forward to now... I am rekt and no signs on improvement!
With campaigns stopped and utility stripped back, $COOKIE is trading around $0.022 and at this price my tokens are worth about $1,800 today. That stings amigos!
I am down roughly $3,700, which puts the drawdown at around -67%. Not a paper cut pain... more like constantly being hit in the cojones with a wrecking ball kind of loss.
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