EigenLayer Responds to Community Backlash by Expanding Token Airdrop
EigenLayer, an Ethereum restaking protocol, has made a significant adjustment to its EIGEN token airdrop in response to community feedback. The protocol has decided to increase the token allocation by 28 million tokens, benefiting over 280,000 prior users who engaged with the platform before April 29.
Initially, EigenLayer had announced that 15% of the total supply of EIGEN tokens would be allocated to the community. However, following negative feedback, the protocol decided to increase the token allocation, ensuring that Season 1 claimants receive a minimum of 110 EIGEN tokens, while Season 2 participants will receive at least 100 EIGEN tokens.
One of the key concerns raised by the community was the inability to transfer or sell the tokens until a later date. EigenLayer addressed this issue by emphasizing that this restriction is in place to ensure the full operational readiness of key protocol features before allowing token transfers.
Looking ahead, EigenLayer has outlined a lock-up period for private investors and team members, with a gradual release of tokens over three years. This approach prioritizes regular users, allowing them to transfer their tokens before core contributors.
The protocol has also promised to reevaluate eligibility for users affected by geographical restrictions, including those excluded from the initial airdrop due to geo-blocking measures.
While the EIGEN tokens are not yet in circulation, their perpetual futures are trading at $9.7 in the derivatives market. This sets the potential market value of the new airdrop at around $271 million.
EigenLayer’s decision to expand its token airdrop reflects a commitment to more inclusive and community-focused token distribution practices. However, some community members believe that the protocol may face challenges from other Ethereum restaking protocols in the future.
As EigenLayer continues to address community feedback and make adjustments to its token distribution strategy, users can expect further updates in the coming weeks.
