EigenLayer's EIGEN Airdrop Might Signal Demise of Once-Popular 'Points'
Summary
EigenLayer, a restaking platform, attracted $16 billion in crypto deposits before its official launch. Its points program, rewarding depositors, led to anger when the EIGEN token airdrop was announced. The token's non-transferability and regional restrictions sparked criticism. Similar issues have arisen with other projects using points programs, leading to doubts about the future of this practice in the crypto industry. Points programs were initially used to encourage protocol activity and navigate regulatory concerns, but they have created information asymmetry and dissatisfaction among investors. This has led to predictions that the practice may be nearing its end.
