📰 Table Of Contents
EigenLayer Token Airdrop Details
Ethereum restaking protocol EigenLayer has initiated its token-claim process, commonly referred to as an “airdrop,” for Season 1, Phase 1 rewards. Users who are eligible for the new EIGEN token can now acquire it through the claims process after a few weeks of anticipation.
It’s important to note that EIGEN tokens are currently nontransferable, meaning users cannot sell or trade them. However, the EIGEN token will become transferable once the development team implements new features in the upcoming months, with a tentative target date set for September 30.
Token Claim Deadline and Restrictions
- Users must claim their tokens before the process closes on September 7 to receive their rewards.
- EIGEN token is not available for users in over 30 jurisdictions, including the United States, Russia, China, and Canada.
- Most VPN server addresses are prohibited from being used for token claims.
Phase 2 Token Unlock and Bonus Tokens
The current claims process has unlocked 6.05% of the total supply of EIGEN tokens, with an additional 0.7% set to be unlocked in mid-June during “Phase 2.” Users of applications such as Kelp, Pendle, Equilibrium, and similar apps will be eligible to claim their tokens at that time.
Users who restaked on EigenLayer between March 15 and April 29 are eligible to claim 100 bonus tokens immediately, with the majority of their claims becoming available in mid-June alongside other Phase 2 participants.
Controversy and Community Response
The EIGEN airdrop has sparked controversy within the decentralized finance (DeFi) community. While some see it as a potential “life-changing airdrop,” others have criticized it for various reasons including the ban on VPN servers and the distribution of nontransferable tokens.
LayerZero Labs Airdrop and Sybil Farmers Exclusion
LayerZero Labs, a renowned cross-chain interoperability protocol, has announced measures to tackle the issue of sybil farmers ahead of its upcoming airdrop.
The project plans to conduct an internal investigation to identify and exclude sybil farmers from receiving allocations in its future token generation event. Additionally, a reward program will be launched, offering a 10% bonus of the intended token allocation to bounty hunters who identify additional sybil users.
LayerZero Labs recently completed the first snapshot for its highly anticipated airdrop, with plans to distribute tokens to early adopters in the first half of 2024.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
