EigenLayer Airdrop Sparks Controversy as Investors Disappointed

The article discusses the controversy surrounding the EigenLayer airdrop, which has left some investors disappointed. EigenLayer, a restaking platform on Ethereum, gained $16 billion worth of cryptocurrency deposits before its official launch last month, despite having limited functionality at the time. The main incentive for depositing into the platform was points, which were intended to be convertible into tokens, following a similar trend seen in other crypto projects. However, the announcement of the EIGEN airdrop sparked backlash due to several factors. Firstly, the tokens would not be immediately transferrable, causing frustration among users who had been expecting to quickly cash out their investments. Secondly, users from certain countries, including the US, Canada and China, were excluded from participating in the airdrop. Thirdly, the distribution plan for the tokens was unclear, creating uncertainty for some users who had deposited through third-party platforms. Some investors believe that the practice of using points as a way to encourage activity before the token launch is coming to an end, as the system creates an asymmetry of information between investors and sponsors. The author suggests that the high levels of disappointment surrounding the EigenLayer airdrop, along with similar issues experienced by other projects such as Renzo and Blur, indicate that the trend of points-based programs may be reaching its end. Many investors are calling for greater transparency and clarity regarding the distribution of tokens, in order to better protect investors.