That is the problem of overhyping their project and not able to deliver. Yes it is true that most crypto projects will tend to want to hype their features and development to the public. I mean that is really the only way to build up anticipation and interest in the project. However if you ask me, if you go overboard, it can really backfire. Especially if the development team do not have the means the back it up. That is the case of what is happening in the Eagle Network. You can say that I was a fan of the project – I have been faithfully mining their Eagle for like 7 months. It has been quite a run actually. Do note that the project is only 8 or 9 months old. They have more than a million active users, have released their wallets and have quite an impressive number of features coming out. Features like real staking and swaps. For such a small team, you have to admit it is something we seldom see in the cryptosphere. Most of the projects are basically scams which will most likely fail in a matter of a few months or just disappear. But the Eagle Network seem to be around for the long haul. Kudos to them for that.
However the recent issue with the release of their tokens to the users’ wallet seem to have dampen my confidence. Let me explain what actually happened. They were set to release the tokens that users were mining to users’ wallets a few weeks ago. However it was noted that the cost of sending these tokens to users were apparently too expensive. They had planned to use a 3rd party bulk sender to send the tokens. The cost was like USD 95K for the 1st group of recipients. That is huge if you think about it. The price of their tokens is only USD 0.0003. So they decided to create their bulk sender. They claimed that they have tested it and it seems to be working fine. However even after 2 weeks of “testing”, they still have not released the tokens to users wallets. And of course users were unhappy about that issue. So the question is why has the Eagles team not yet released the tokens? Could it be that the bulk sender is not as robust as they have claimed? Or perhaps the users are starting to think that not everything is as rosy as what the Eagles team have said it would be. Perhaps there were even more technical problems with their system. I mean creating tokens on the Binance Smart Chain is relatively easy. The Eagle Token(EAN) is on the BSC. So what is the delay then? The only answer from the developers – be patient. It was supposed to be released to users wallet like a month ago.
I am not someone who is impatient. In fact I have been calling out on the Eagle Team for doing things just too fast. But I can understand the frustration of the users. Especially after all the hype and whatever roadmap information the team have released to the public. And of course not to mention the lost of trust between the users and the Eagle teams. Overpromise and underdeliver. For me I think it is good that the project is not being rushed. Of course they might lose some users and members and we will get a lot of complains on their Telegram group and other support channels. It might also be good for them to stop the hype train and start concentrating on developing their network instead. Their roadmap is just too ambitious as well. Do it well and do it once. Sure there will always be mistakes made and surely tons of screwups along the way. But the recent debacle is not due to coding or complicated programming. The recent issue with not able to withdraw was due to them not knowing about the cost of sending out tokens in bulk using 3rd party software! Which is kind of surprising to say the least.
Anyway I will update you guys once they have released the tokens to the wallets. It would be a great step and a confidence boost for their users as well. Till the time comes, everything is still in doubt.