EigenLayer expands airdrops in response to community backlash
Key Takeaways
- Due to community feedback, EigenLayer increased the EIGEN token airdrop to 28 million, benefiting over 280,000 previous users.
- EigenLayer ensures early migration potential for protocol users compared to core contributors.
- The protocol plans to reevaluate the eligibility of users affected by geo-restrictions.
EigenLayer, the Ethereum re-staking protocol, responded to the community’s complaints: Increase EIGEN token airdrop by approximately 28 million.
This adjustment will help More than 280,000 wallet owners who joined the platform before April 29; Includes initial airdrop claimants.
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Initially, the protocol announced: Allocate 15% of total supply Deliver EIGEN tokens to the community.
but, As per the negative feedback about this amount EigenLayer has decided to increase its token allocation.—As EigenLayer details in a blog post, Season 1 claimants are now guaranteed a minimum of 110 EIGEN, and Season 2 participants will receive a minimum of 100 EIGEN..
Users also complained. Tokens may not be transferred or sold until an unspecified date. EigenLayer addresses this problem while emphasizing these limitations. Ensures full operational readiness. Before key protocol functions become transportable
EigenLayer said that when forward transferability is enabled: Individual investors and team members will receive a one-year lock-up period, followed by gradual release of 4% per month over three years. This ensures: Regular users can transfer tokens well before core contributors. It is consistent with the protocol’s goal of prioritizing the interests of the community.
Airdrops also received criticism. Strict geo-blocking and anti-VPN measures; Specifically, users from 30 countries, including the United States, Canada, China, and Russia, were excluded.
EigenLayer has promised to investigate this issue. Users who previously interacted with the testnet but were excluded from the initial airdrop phase are also included.
We are aware that certain testnet users have been excluded from billing eligibility. Missing testnet user allocations will be updated as part of Phase 2 of Season 1.
Management has committed to providing: Additional updates are expected in the coming weeks.
EIGEN tokens are not yet in circulation, but at the time of writing, perpetual futures are trading at $9.7 on the derivatives market. This sets the total. The potential market value of the new airdrop is approximately $271 million; However, this assessment may change significantly before the tokens are officially distributed on May 10th.
EigenLayer’s enhanced airdrop plan aims to correct this initial oversight and marks a shift toward more inclusive, community-driven token distribution practices.
Nonetheless, issues with the airdrop have led some community members to believe that EigenLayer could soon be challenged by other Ethereum re-staking protocols, such as Karak, which recently secured $48 million in Series A funding.
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