Hayden Adams, CEO and founder of Uniswap, has offered his perspective on ethical considerations for effective token distribution, particularly in response to concerns surrounding transparency and fairness on EigenLayer.
Adams clarified that his discussion pertains to tokens, not points, and criticized practices that involve hyping up and creating ambiguity during token distribution to artificially inflate engagement metrics.
Adams cautioned against public speculation about future developments and highlighted the negative response from users who felt excluded from the EigenLayer airdrop due to nontransferable tokens, geo-restrictions, and a short snapshot period.
Adams strongly disapproved of low float tokens, considering them malicious, and emphasized the importance of distributing tokens openly to enable genuine price discovery on decentralized exchanges.
He criticized the practice of creating an excessively high token supply to exploit people’s unit bias, advising against being too conservative and encouraging a substantial portion of tokens to be made available for distribution.
Adams stressed the importance of maintaining a straightforward distribution process and cautioned against revealing token prices during or before distribution, as it may raise suspicions about the project’s motives.
He urged token issuers to prioritize building real value over quick wealth, emphasizing transparency and thoughtful consideration of their projects to avoid ridicule within the crypto community.
EigenLayer, an Ethereum restaking protocol, distributed an additional 28 million EIGEN tokens to over 280,000 wallets following its initial airdrop in response to user concerns over program restrictions.
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