Recently, Hayden Adams, founder of Uniswap, explained how airdrops work. He also discussed some mistakes other big projects tend to make before, giving his suggestions on the issue. He in particular pointed out that bringing in liquidity by attracting market makers was wrong. He encouraged them to be real clear on airdrop terms and details without depending on the future so much as well as not acting greedy.
“Not aimed at any specific project, but have seen a ton of discourse recently on the topic so figured I’d share my take on good token distributions” said Adams, adding that everything he talked about in that text is not about points. Separate material has covered how airdrops operate under such a system.
Not aimed at any specific project, but have seen a ton of discourse recently on the topic so figured I’d share my take on good token distributions:
1) tokens, not points
2) don’t farm the farmers - teasing and creating ambiguity around a token distribution to grow your numbers…— hayden.eth 🦄 (@haydenzadams) May 4, 2024
Recommendations from Adams:
- Avoid speculation and ambiguity when attracting an audience;
- At the launch phase, the liquidity of the token should be real. Adams is against projects working with exchanges and market makers;
- Do not overstate the emission;
- Distribution among the community should be generous;
- Avoid giving public forecasts about the likely value of the asset;
- Be straightforward; any decisions by the team should be well-founded.
Adams stressed that his comments were not aimed at any particular project. However, his publication appeared amidst community dissatisfaction with the latest airdrop conditions of the Renzo and EigenLayer protocols.
Remember, in September 2020, the Uniswap project conducted the largest airdrop in history, distributing UNI tokens worth $6.42 billion (with the asset priced at $42).
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