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EigenLayer criticized due to airdrop

On April 30, 2024, the EigenLayer project team announced an airdrop of 1.67 billion EIGEN tokens. However, due to the distribution conditions, the developers faced criticism from the community.

In particular, users are not satisfied with the condition of blocking assets and the volume of the airdrop:

“It turns out that the EigenLayer team and large investors will receive 55% of the total supply, while stakers will only get 5%. And even those cannot be withdrawn immediately. The greed of crypto developers and venture capital funds never ceases to amaze me,” said one commentator.

Also criticized was the list of restrictions for addresses that want to take part in the distribution. In particular, the ban applies to users from the USA, Canada, most CIS countries and China.

At the same time, as another commentator noted, it is possible to add assets to the protocol from these regions, but not to take part in the airdrop:

Also at the announcement stage, confusion arose with users of the Pendle service. Due to an error, which seems to be unintentional, the community has formed the opinion among the developers that these participants will not receive the drop.

Later organization of the Eigen Foundation made a clarification, noting that a tenth of the 5% airdrop in the first season will be allocated to these users. However, this still affected the rate of the PENDLE token, the price of which dropped by more than 30%.

Against this background, the total locked value (TVL) of the EigenLayer project decreased from $15.94 billion to $14.89 billion, according to DeFiLlama.

Source: Cryptocurrency

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