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EigenLayer offers more EIGEN tokens in the Airdrop update
EigenLayer, a leading Ethereum restake protocol, has announced a significant expansion of its initial airdrop of EIGEN tokens. This decision is a direct response to the community’s negative reaction.
The protocol will distribute an additional 100 EIGEN tokens to each of more than 280,000 eligible wallets to address user concerns. This move will dramatically increase user satisfaction and demonstrate the foundation’s commitment to community feedback.
Dealing with the backlash: EigenLayer’s updated token strategy
THE initial airdrop, announced early last week, drew harsh criticism from the EigenLayer community. The negative reaction led to calls for more equitable distribution.
Users have expressed dissatisfaction with the assignment formula. They perceived this as giving investors and early contributors a disproportionate advantage over average users.
To know more: What is EigenLayer?
The Eigen Foundation, responsible for the EigenLayer ecosystem, has released a detailed plan for distributing additional rewards. The latest plan clarifies countdowns and block timelines, while aiming to increase user involvement in all phases of the project. Users who interact with EigenLayer before the April 29 deadline will benefit from an increased airdrop, which will be processed after May 10.
This strategy also extends to participants in EigenLayer Season 1 and Season 2 initiatives. All Season 1 participants will receive at least 110 EIGEN tokens, which includes the base amount of 10 EIGEN plus the new addition of 100.
Likewise, Season 2 participants engaged in staking activities between March 15 and April 29 are guaranteed a minimum of 100 EIGEN tokens. However, it is important to note that only users who signed up before April 29 will be eligible for this round of distribution.
Additionally, the foundation provided crucial details on the token maturation plan held by investors. They indicated that maturation will begin once the tokens become transferable, with an unlock phase expected after September 30th. This timing coincides with the launch of new features on the main EigenLayer network.
Additionally, the Eigen Foundation explained that it will update missed assignments for those involved in the testnet. They promise more details to come.
“We are aware that some testnet users have been excluded from eligibility for requests. Lost testnet user assignments will be updated as part of Phase 2 of Season 1. We will provide more details in the coming weeks,” the Eigen Foundation he wrote.
To know more: Best upcoming air launches in 2024
EigenLayer has went up quickly as a key player in decentralized finance (DeFi) since its inception in 2023. Currently is ranked as the second largest DeFi protocol with a total value locked (TVL) of $14.85 billion, according to DefiLlama.
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