EigenLayer Launches Airdrop Season, Allowing Users To Claim 113M EIGEN Tokens
11 Maggio 2024 - 2:00AM
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Restaking protocol EigenLayer has unveiled its highly anticipated
airdrop season, during which eligible users can claim a portion of
the initial EIGEN token supply. EigenLayer Sets September
2024 Deadline The protocol’s announcement on Friday revealed that
“Season 1” commences with 6.05% of the total supply, which users
can claim starting on May 10. Moreover, “Season 1 phase 2,”
set to begin mid-June, will increase the claimable percentage to
6.75%. Season 1 will distribute approximately 113 million EIGEN
tokens to participants. EigenLayer has reserved 15% of the initial
token supply for the community across all seasons, signaling its
commitment to inclusive participation. Related Reading: XRP All
Talk, No Action? Social Media Booms, But Price Stuck In The Bear
Pit EigenLayer has also announced that EIGEN tokens are currently
non-transferable. However, the protocol plans to unlock token
transfers once new features are launched and “further
decentralization” is achieved. These developments are
expected to take place by September 30th, 2024. Until transfer
restrictions are removed, core contributors and investors will not
receive EIGEN staking rewards, and no inflation will occur.
Record-Breaking $14 Billion In Assets Since its soft launch in
2023, EigenLayer has reportedly attracted $14 billion in assets,
making it a prominent player in the decentralized finance (DeFi)
space. According to Bloomberg, the protocol’s restaking
service offers amplified returns by leveraging the process of
depositing ETH coins to support the Ethereum blockchain. Eigen
Labs, the Seattle-based firm behind EigenLayer, raised
approximately $165 million from notable backers, including a16z
Crypto. Investors gain access to EigenDA by staking EIGEN, a
performance data availability system supporting Ethereum rollups.
The protocol claims this presents an opportunity for users to
secure amplified returns. Additionally, EigenLayer will
shortly introduce compatibility with various AVSs
(Application-Specific Verification Systems), offering stakers more
options. Nonetheless, virtual private network users and
residents of countries such as the US, Canada, and China have been
excluded from the airdrop, highlighting the challenges of operating
within regulatory frameworks and ensuring compliance. Eigen
Foundation’s executive director, Robert Drost, acknowledged the
complexities of navigating regulatory guidelines: It’s not possible
to operate in the space without following regulatory guidelines and
being responsible, and the challenging part is that there is not a
lot of clarity. Related Reading: Crypto Analyst Sets $10
Price Target For Cardano As Volume Jumps 90% Despite these
setbacks, EigenLayer’s popularity has positioned it as the second
most popular DeFi application, surpassing liquid staking platforms
like Lido and Rocket Pool. While liquid staking provides
easier access to staking rewards and leads the DeFi category, it
has experienced significant outflows in recent months. DefiLlama
data indicates a 27% decline in total value locked in liquid
staking protocols since their peak of $63 billion in March.
EigenLayer’s restaking service has contributed to the restaking of
nearly 4% of all ETH. The second largest cryptocurrency on
the market, Ethereum, is trading at $2,890, following Bitcoin’s
lead with a 3.8% drop in the past 24 hours. Featured image
from Shutterstock, chart from TradingView.com
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