After airdrop blowback, EigenLayer will cough up an additional 28 million EIGEN.
In response to concerns regarding its initial airdrop, EigenLayer is giving 280,000 qualified wallet addresses an additional 100 EIGEN.
Just a few days after announcing its initial airdrop, EigenLayer, an Ethereum restaking protocol, is now airdropping an additional 28 million of its native EIGEN tokens to over 280,000 wallets.
EigenLayer said on Monday that it will give away 15% of its whole supply to the community, but a number of its airdrop program’s terms were viewed as limiting by some users.
The Eigen Foundation announced on May 2 on X that it will now be airdropping extra EIGEN tokens to the wallets of users who engaged with the protocol prior to April 29. This implies that anyone who interacted with the system prior to April 29 will also be included in the airdrop.
The restaking procedure revealed in a follow-up blog post that Season 1 claimants will receive at least 110 EIGEN, and Season 2 claimants (those who engaged with the protocol between March 15 and April 29) will earn at least 100 EIGEN.
The restaking protocol announced in a follow-up blog post that Season 2 claimants, or those who interacted with the protocol between March 15 and April 29, will receive a minimum of 100 EIGEN, while Season 1 claimants are expected to receive a minimum of 110 EIGEN with the additional boost to the airdrop.
According to Aevo data, EIGEN perpetual futures contracts are presently trading for $10 on the derivatives market, despite the token not having been released to the market. This suggests that the value of the most recent airdrop may be over $280 million.
The EIGEN price is subject to large fluctuations prior to the actual token distribution event on May 10.
Once the restaking protocol launched its “stakedrop” scheme on April 30, users who felt left out of the first airdrop flocked to social media to vent their frustrations.
Critics primarily criticized EIGEN’s nontransferable token structure, a lower-than-expected 15% community allocation, and “aggressive” geo-blocking and anti-VPN measures, which prevented users from 30 countries, including the United States, Canada, China, and Russia, from claiming EIGEN tokens.
EigenLayer stated that it would investigate into including more of its testnet users who may have been excluded from the airdrop.
“Missed testnet user allocations will be rectified during Phase 2 of Season 1. “We will provide more information in the coming weeks,” wrote EigenLayer”.
Related: EigenLayer sees over 12,000 pending withdrawals; how far will TVL fall?
Over 400 people attended the all-day event, representing a variety of profiles, including well-known memecoin communities and PayPal BTC tickers down to $591,142 for investors, celebrities, and nonfungible (NFT) cCelebrities, nonfungible token (NFT) groups, and investors see the price of Bitcoin ticking down at $59.142.
In its first airdrop announcement, the Eigen Foundation stated that while consumers may claim their tokens starting May 10, they would be unable to transfer or sell them until an undetermined date.
EigenLayer stated that this restriction was implemented to ensure that essential elements such as payments and cutting parameters were “well established” prior to EIGEN becoming transferable across users.
In the most recent blog post, EigenLayer offered additional information about EIGEN’s non-transferability but did not provide a timetable for when the tokens would be transferable to users.
It said that private investors and team members would be subject to a full one-year lock-up period after the token became transferable to the community.
“After that, they will unlock at 4% per month for three years following transferability. This assures that protocol users receive transfer powers before any core contributors do.”
