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Highlights
- Uniswap Founder Hayden Adams has counseled token issuers
- Adams advised against token teasing
- His counsel comes amid controversial token distribution from DeFi projects
Hayden Adams, the founder and CEO of Uniswap recently gave his opinion on what makes good token distribution, wrapping his opinion into eight ethical points to note. Markedly, this comes out a few days after concerns were raised by the crypto community on the transparency and fairness of token distribution on EigenLayer.
Uniswap Founder Advises Against Token Teasing
First of all, he clarified the fact that he is referring to tokens and not points. Next, he stated how it is not good behavior to tease and create ambiguity around a token distribution just to grow numbers.
Adams advised against public speculations, especially if the team doesn’t know what comes next. In the case where one has information about a token distribution but does not intend to share the details, the Uniswap CEO advised against teasing.
“Just share real details when ready,” Adams said.
The Uniswap CEO talked about his lack of love towards low float tokens which are malicious, citing that they are his biggest pet peeve. He believes that projects do not need exchanges or market makers to effectively distribute tokens.
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
For him, the right approach would be to just distribute the tokens publicly, a move that is enough to make real price discovery happens on DEX.
Another “bad behaviour” highlighted by the Uniswap CEO is the creation of an outrageously high token supply to farm people with unit bias. He does not think it is necessary to adopt this style.
Furthermore, Adams advised token distributors against stinginess. Precisely, he prompted them to make a significant volume of their tokens available for distribution.
Adams Shares More Insight on Token Distribution
Hayden Adams advised against insufficient token distribution, especially if the issuer does not feel like the community deserves it.
Adams was also clear about not posting token prices while distributing them or before. Any attempt to do so either by utilizing influencers or marketing firms, would raise suspicions about such a project.
In Adams’s words, this would mean that the issuer is trying to get rich quickly all in the name of building real value. Token issuers and distributors are advised to keep the distribution process as simple as possible. These words echo on grounds of numerous rug pulls in the industry in recent times.
Lastly, the Uniswap executive asked token issuers to be more thoughtful and honest about their projects. He thinks one should release a token that he is proud of and can stand behind, to avoid being a laughing stock to crypto X community members.
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