EigenLayer Airdrop Is Now Updated After Facing Controversy From Users

Key Points:

• Eigen Foundation will airdrop $1,000 worth of EIGEN tokens to 280,000 wallet holders in response to criticism.
• The EigenLayer airdrop plan includes distributing 110 EIGEN tokens minimum, with transferability post-September 30, 2024.
• Eigen Labs secures $100 million in funding and faces user withdrawals over complex whitepapers and limited rewards.

The Eigen Foundation has announced a significant move to address community concerns by initiating a massive airdrop for its over 280,000 wallet holders.

Read more: EigenLayer Airdrop: Seize Lucrative Airdrop Benefits Now!

Eigen Foundation’s Response: Massive Airdrop to Address Criticism

Following criticism over EigenLayer airdrop strategy, the foundation revealed plans to distribute approximately $1,000 worth of EIGEN tokens to each holder.

In a statement released on Thursday, the Foundation disclosed that first-season recipients would receive a minimum of 110 EIGEN tokens, with second-season recipients receiving 100 tokens or more. This announcement comes amidst a public backlash against the initial airdrop plan, which included restrictions on redeeming allocations within a specified period.

EigenLayer, the project’s infrastructure, clarified that investor tokens would become transferable after the token transferability begins, anticipated to commence post-September 30, 2024, coinciding with the launch of new features on EigenLayer’s mainnet.

EigenLayer Airdrop Is Still Controversial

The unveiling of the long-awaited EigenLayer airdrop plan on Wednesday generated both excitement and criticism. The plan allocates 45% of the 1.67 billion token supply at launch to the community, with a third distributed through airdrops across multiple seasons, prioritizing rewards for staking participants.

Despite the anticipation surrounding the EigenLayer airdrop, concerns arose, notably regarding the token’s lack of immediate transferability upon launch. EigenLayer addressed this by explaining that the non-transferability period aims to facilitate decentralization and community consensus on token utility and governance.

Eigen Labs, credited with pioneering restaking on Ethereum, recently attracted $100 million in funding from venture capital firm Andreessen Horowitz. The platform’s innovation in restaking, allowing users to simultaneously secure various blockchains using staked Ethereum, has garnered immense popularity, with nearly $16 billion locked on the platform.