As a seasoned crypto investor with a keen interest in decentralized finance (DeFi) projects, I’ve seen my fair share of airdrops and their accompanying controversies. The recent Eigenlayer airdrop, which began its token-claim process for Season 1, Phase 1 rewards, has certainly piqued my curiosity.
According to a recent blog post from the Eigenlayer development team dated May 10th, the Ethereum restaking protocol has initiated its token distribution process, which some refer to as an “airdrop,” for Season 1, Phase 1 rewards. This step enables users who are entitled to the new EIGEN tokens to eventually obtain them following several weeks of anticipation. However, it’s important to note that these tokens currently cannot be transferred or sold.
As an analyst, I’ve reviewed the post and
Based on Eigenlayer’s records, the token cannot be accessed by users in more than 30 countries, which include the United States, Russia, China, and Canada. The vast majority of Virtual Private Network (VPN) server locations are also prohibited for use in obtaining this token.
Approximately 6.05% of EIGEN’s total token supply has been released through the claims process so far, with an additional 0.7% set to be disbursed during “Phase 2,” starting in mid-June. Users of Kelp, Pendle, Equilibrium, and related platforms will have the opportunity to claim their tokens from mid-June onwards. In contrast, the current airdrop primarily caters to individuals who staked Ether (ETH) or its liquid staking alternatives on Eigenlayer before March 15.
As a crypto investor using liquid restaking tokens (LRTs), I have the opportunity to collect my rewards ahead of schedule, as long as my actions don’t fall under “phase 2” categorization. Moreover, if I staked on Eigenlayer between March 15th and April 29th, I can now claim an extra 100 bonus tokens. However, the majority of my rewards and those of other phase 2 participants will be accessible in mid-June.
In the world of decentralized finance, the EIGEN airdrop has sparked heated debates. Leandro Schlottchauer, a co-founder of Kuyen Labs, predicted that it could potentially be the final “game-changing” airdrop. Contrastingly, some users of Eigenlayer have voiced their disapproval towards the airdrop. Their criticisms include the prohibition of VPN servers, the issuance of a non-transferable token, and what they perceive as a brief snapshot period for eligibility.
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2024-05-10 22:25