Uniswap founder Hayden Adams reflects on UNI airdrop: setting a new precedent

Hayden Adams, the founder of Uniswap, reviewed the UNI airdrop, calling it an unprecedented initiative. He believes that this airdrop not only laid the foundation for Uniswap’s success, but also created a new way of community building.

When reviewing this airdrop, Hayden emphasized its innovation and impact. He noted that before this, most projects raised funds through pre-sales of tokens or public offerings. However, the UNI airdrop breaks this model and achieves fair distribution and broad community participation by airdropping tokens directly to early supporters. This not only injects more energy into the project but also builds closer community ties. This innovative distribution method will continue to influence the fundraising model of many projects in the cryptocurrency industry.

Hayden pointed out that the success of UNI’s airdrop is attributed to several key factors. First, it is built on Uniswap’s decentralization and liquidity infrastructure, which provides important support for the project. Secondly, the team cleverly designed the airdrop mechanism to ensure fairness and incentives. Finally, the active participation and support of the community are also important factors in the success of the airdrop. The combined effect of these factors has made the UNI airdrop a popular and influential event.

Hayden believes that the impact of the UNI airdrop is not limited to the success of Uniswap, but also serves as a demonstration for the entire encryption industry. He pointed out that this method of community building and token distribution can become a reference for other projects and promote innovation and development in the industry. The UNI airdrop has set an example for the crypto industry, inspiring more projects to adopt a similar approach and promoting community participation and consensus formation. This model helps encourage users to actively participate in the project and provides them with the opportunity to participate in project governance, further strengthening the sustainable development and success of the project.

Hayden Adams pointed out in a tweet that Uniswap’s retroactive governance token UNI airdrop is an unprecedented innovation. The protocol has been running for many years, attracting hundreds of thousands of users and achieving strong product-market fit.

At that time, the Uniswap team believed that no one could copy the Uniswap airdrop.

They believe that every future airdrop may be rigged. Hayden Adams pointed out that almost all projects now conduct airdrops, and many of them have the possibility of manipulation.

He went on to comment on the advantages and disadvantages of airdrops.

The advantages and disadvantages of airdrops

Advantages:

Financially changing the lives of hundreds of thousands of people around the world (Hayden Adams claims to have heard many stories).

A culture that rewards early adopters and users.

Fairer and more extensive value distribution.

Easier self-service adoption makes the public willing to try new things.

Good airdrops can achieve early liquidity and early price discovery.

Disadvantages:

Airdrops are industrialized, and users expect every project to be airdropped.

The project team mistook airdrop users as a product-market fit.

Harass the team and request the airdrop "wenairdrop".

The project team takes advantage of potential airdrops to continuously counterattack users who expect airdrops.

How to perform a successful airdrop?

Hayden Adams suggested at the end of the article that project parties should clarify their own goals to design the airdrop mechanism, and also understand that speculators will always exist, and anything that can be manipulated will be manipulated.

He also mentioned that in terms of influence, Uniswap’s airdrop is unprecedented, but the real first airdrop should be the airdrop of OMG Network (OMG) to ETH holders in 2017.

Note: OmiseGo changed its name to OMG Network in June 2020.

Although what Hayden Adams said is right, when Uniswap was copied by SushiSwap in September 2020, the protocol code and started liquidity mining, it seemed that due to the situation, Uniswap was forced by the situation and in less than a month It also announced the issuance of the governance token Uni through airdrops and the launch of liquidity mining, which ended the liquidity war. Uni only has a governance voting function and is often criticized.

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