EigenLayer Expands Airdrop and Addresses Community Concerns
Luisa Crawford May 03, 2024 13:20
EigenLayer, an Ethereum restaking protocol, has expanded its initial EIGEN token airdrop to 28 million tokens, addressing user dissatisfaction and ensuring equitable distribution. The airdrop includes Season 1 and Season 2 participants, with minimum token allocations.
In response to community concerns and feedback, EigenLayer, a prominent Ethereum restaking protocol, has recently announced an expansion of its initial EIGEN token airdrop. Over 280,000 eligible wallets will receive an additional 28 million EIGEN tokens from the protocol. The objective of this action is to rectify user discontent regarding the initial allocation formula and showcase the foundation's dedication to community input.
Airdrop Specifics
Claimants in Season 1 will be awarded a minimum of 110 EIGEN tokens, consisting of the standard 10 EIGEN plus an additional 100 EIGEN.
Claimants in Season 2 who participated in staking activities from March 15 to April 29 will be awarded a minimum of one hundred EIGEN tokens.
Significant progress has been made by EigenLayer to ensure a more equitable distribution of tokens among its community members with the expansion of the airdrop. Throughout all phases of the project, the protocol endeavours to enhance user engagement and contentment by offering supplementary incentives.
The Eigen Foundation, which oversees the EigenLayer ecosystem, has additionally disclosed vital information pertaining to the vesting schedule for investor-held tokens. Vesting is scheduled to begin once the tokens become transferable, and the activation phase is anticipated to occur after September 30. This schedule corresponds to the introduction of additional features on the EigenLayer mainnet.
In addition, the foundation has confirmed that specific testnet users were not included in the eligibility criteria for claims and has pledged to rectify the oversight in the allocations during Phase 2 of Season 1. Further information pertaining to this update will be furnished in the forthcoming weeks.
EigenLayer, which was established in 2023, has rapidly emerged as a significant contender in the decentralised finance (DeFi) industry. At present, it holds the position of the second most prominent DeFi protocol in terms of value locked (TVL), amounting to $14.85 billion. The restaking mechanism of the protocol provides the Ethereum network with increased scalability and security by permitting staked ETH to be exchanged for cryptoeconomic security for other protocols in return for rewards and fees.
As a result of addressing community concerns and expanding its airdrop, EigenLayer has ultimately demonstrated its dedication to cultivating a fair and inclusive ecosystem. The protocol seeks to increase user engagement and contentment by providing additional tokens to eligible users and elucidating the vesting schedule. As EigenLayer expands and introduces novel advancements in the DeFi industry, its restaking protocol provides developers with fresh opportunities and validators with enhanced capital efficiency.
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