Ethical issues related to token launches have continued. There have been various tokens that were launched on a speculative basis and have brought nothing but losses to investors. Uniswap founder Hayden Adams has opened up about ethical issues related to the token launch and talked about the different aspects of this matter.
Token launch and related issues
The token launch has been one of the critical issues in the blockchain ecosystem. If the developers are clear and fair about the token, it can gain traction in a matter of less time. But if they deceive the investors through fake claims, it can result in a loss of trust in crypto. It has happened multiple times, affecting the trust of customers in the market.
Hayden Adams is one of those leaders in the market who continue to ask for fair play in order to improve trust in the crypto market. He has been active in the market since the launch of Uniswap as its founder. He developed Uniswap as a decentralized app on Ethereum, making it one of the most used in the dApp world.
Uniswap is a decentralized crypto exchange that has a set of smart contracts that can be used for crypto trades. In contrast to centralized exchanges, it has certain smart contracts that facilitate crypto trades. Those who invest their crypto assets in this exchange and agree to not trade or sell them can earn UNI tokens.
Hayden built one of the most robust protocols for cryptocurrency exchange and developed its token into a valuable one. Now, he has opened up about being heedful to certain issues related to token launches that can affect trust in the crypto market.
Hayden Adams’ (Uniswap founder) take on token launch
Uniswap founder Hayden Adams has been clear about the token launch. He shared his own perspective regarding them in a detailed Tweet where he covered eight different ethical issues regarding the launch of tokens.
He clarified it in the tweet that it wasn’t aimed at any specific project or a developer but rather advice for all. He added that he had seen a growing discourse regarding this issue so he wanted to add his view to it.
The first thing he talked about is that the developers should focus on tokens not points. He took a negative view of teasing the investors by creating ambiguity regarding the token distribution. Many developers don’t share the details and keep them delaying in order to grow numbers.
He also said that there should be no speculation about a token if there is no clarity about it. He said that if the team doesn’t know what comes next for the token, they shouldn’t be speculating publicly about its value.
The Uniswap founder believes in sharing details when ready and has the same advice for developers. Furthermore, he said that he didn’t like float tokens which are malicious. He added further, that developers don’t need exchanges and market makers for effective distribution of tokens.
He also said that the developers shouldn’t make an absurdly high token supply which creates unit bias. He also advised against stinginess which will create problems.
Further insights regarding tokens
He added that the token price shouldn’t be marketed. If influencers and celebrities are involved in the marketing of tokens, then it means that the developers aren’t building real value. He advised against it and said that they should focus on building real value for tokens.
In his final advice, he said that market leaders should be careful about their decisions. He said that decisions shouldn’t be haphazard, making them laughing stock for crypto Twitter.
Conclusion
Uniswap founder Hayden Adams talked about the problems related to token launch in a Tweet. He covered a range of issues in eight points. The narrative talked about building value instead of fanfare so that tokens launches don’t make market leaders a laughing stock.
