Sam is CoinDesk's deputy managing editor for tech and protocols. He reports on decentralized technology, infrastructure and governance. He owns ETH and BTC.
What is perhaps the most-hyped crypto airdrop ever is set to kick off on Friday, but not necessarily with the kind of enthusiasm that its builders may have hoped for.on Ethereum, accrued $16 billion worth of crypto deposits within its first year of opening up to users – even prior to its official.
EigenLayer's points program helped it attract users and lure in billions of dollars, but when the airdrop of the EIGEN token was finally announced last week, the project's community erupted with anger. "There was so much 'wink, wink' going on around points and how they were making an infinite sum game and everyone's gonna win and all of this shit. And then they basically cut off two-thirds of potential users and airdrop recipients," said one EigenLayer venture investor who agreed to speak on the condition of anonymity."I think it's completely fine to cut off the U.S. from an airdrop, but then don't let them use it in the first place.
Some point programs have converted into airdrops with little controversy, but more and more of them – particularly larger projects, like EigenLayer – have led to disappointment.
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Why Eigenlayer’s Airdrop Is ControversialDaniel Kuhn is a deputy managing editor for Consensus Magazine. He owns minor amounts of BTC and ETH.
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