Low float tokens, which he saw as malevolent and his pet peeve, were fiercely disapproved of by the CEO of Uniswap.
Uniswap’s CEO and founder, Hayden Adams, has shared his thoughts on the moral implications of efficient token distribution. This occurs a few days after the openness and equity of EigenLayer’s token distribution sparked concerns from the cryptocurrency community.
Adams clarified that he was talking about tokens, not points, in an X post. He continued by criticising the custom of teasing and ambiguity-creating token distribution in order to artificially raise engagement numbers.
Adams advised avoiding making assumptions about the future in public, especially when the team is unsure of what will happen next. If someone knows about a token distribution but does not intend to share the information, he cautioned against taunting.
The restaking protocol’s launch on Monday was met with criticism by users who felt left out of the recently revealed EigenLayer airdrop. They drew attention to the protocol’s harsh geo-restrictions, nontransferable token structure, and seemingly brief snapshot duration.
Low float tokens, which he saw as malevolent and his biggest pet peeve, were fiercely disapproved of by the Uniswap leadership. He thinks that initiatives can successfully distribute tokens without the help of market makers or exchanges. Token distribution should be done in an open manner, according to him, to allow for true price discovery on decentralised exchanges (DEX). In addition, Adams said that it is needless to take the method of artificially inflating the token supply in order to take advantage of people’s unit bias. Adams also urged token distributors to distribute a significant percentage of their tokens and cautioned them against being overly cautious.
Hayden Adams advised against distributing tokens insufficiently, especially if the issuer doesn’t think the community deserves them. He also underlined how crucial it is to keep token pricing secret either before or during distribution. Any attempt to do so would cast doubt on the idea, whether it be through marketing companies or influencers.
Adams claims that this strategy implies the issuer is more concerned with accumulating fast money than with creating true value. In response to worries expressed by recent industry rug pulls, token issuers and distributors are urged to continue with a simple distribution procedure.
The Uniswap management concluded by advising token issuers to be deliberate and open about their endeavours. He stressed that in order to prevent mockery within the cryptocurrency community, it is crucial that they release a token that they can stand by and be proud of.
User worries about the program’s limitations led EigenLayer, an Ethereum restaking protocol, to distribute an additional 28 million EIGEN tokens to over 280,000 wallets after its original airdrop.