In Response to Community Criticism, Eigen Foundation Announces Airdrop of Additional 100 EIGEN Tokens to Over 280,000 Users

In Response to Community Criticism, Eigen Foundation Announces Airdrop of Additional 100 EIGEN Tokens to Over 280,000 Users

In Response to Community Criticism, Eigen Foundation Announces Airdrop of Additional 100 EIGEN Tokens to Over 280,000 Users

The EigenLayer protocol announced the economic model of its native token EIGEN and its staking airdrop program called “Stakedrop” at the end of April. However, shortly after the community raised criticisms regarding the controversial airdrop rules, the independent non-profit organization Eigen Foundation released a Stakedrop update on Thursday, stating that an additional 100 EIGEN tokens will be airdropped to over 280,000 wallet holders.

The Eigen Foundation stated that all users who interacted with EigenLayer before April 29 will receive an additional 100 EIGEN tokens. The organization further explained that claimants of the first season airdrop will receive at least 110 EIGEN tokens (the minimum of 10 EIGEN plus the additional 100 EIGEN), while claimants of the second season who started staking between March 15 (snapshot day) and April 29 will also receive at least 100 EIGEN tokens.

Qualified participants for the re-staking are expected to be able to claim their token airdrop starting from May 10. Prior to the announcement on Thursday, the EIGEN airdrop program received criticism from many users, including a provision that prevented token claimants from cashing out their airdrop allocation within a fixed period of time.

EigenLayer also clarified in the latest announcement that tokens held by investors and the team will remain fully locked up for one year after the transferability of EIGEN begins. According to the announcement, the tokens will be unlocked at some point after September 30, 2024, when EigenLayer’s mainnet will introduce new features.

The developers behind EigenLayer also acknowledged that certain testnet users were excluded from the eligibility for claiming, and stated that the allocation for the missed testnet users will be updated as part of the second phase of the first season’s airdrop.

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