EigenLayer: News about the Token Launch and Airdrop
Date: 2024-04-30 Author: Henry Casey Categories: BUSINESS
The EigenLayer restaking protocol team announced the launch of the EIGEN token and airdrop. According to a blog post by the Eigen Foundation, the total supply of tokens will be around 1.67 billion, with distribution allocated to various participants.
Token Distribution Plans
45% of the tokens will be allocated to the EigenLayer community, of which 15% will be divided among users who interacted with the protocol. Another 15% is earmarked for “social initiatives” and ecosystem development. Investors will be allocated 29.5% of the tokens, and early participants - 25.5%.
For investors and early participants, tokens will be locked for a year, after which 4% of assets will be unlocked every month for three years.
Carrying out an Airdrop
The snapshot for the airdrop was taken on March 15, 2024. The first airdrop season allocated 5% of the 15% token supply. 90% will go to participants who interacted with the protocol in “easier ways,” while the remaining 10% will be distributed to users with “complex interactions with LRT.”
At the initial stage, the EIGEN token will not be available for sending or trading. This decision is made to support the long-term growth and maturity of the EigenLayer ecosystem.
Intended Actions and Expectations
Participants will be able to submit claims for tokens within 120 days from May 10. After this period ends, all functionality of the token, including transferability, will be activated.
Observed Interest and Support
The address associated with Justin Sun received more than 2 million EIGEN tokens, which indicates the interest of the crypto community in this project. EigenLayer also previously announced the deployment of the mainnet and the launch of EigenDA.
