The Eigen Foundation, the organization behind the EigenLayer restaking project, announced the distribution of 86 million EIGEN tokens (~5.15% of the emission) as part of the second season of the Stakedrop airdrop campaign.
1/ We’re excited to announce the EIGEN Season 2 Stakedrop in preparation for unlock!
Season 2 will recognize key contributors and participants across the ecosystem:
☑️ Stakers & Operators
☑️ Ecosystem Partners
☑️ CommunityClaims go live on or before September 17, 2024.
More… pic.twitter.com/sC2t3fPy8I
— Eigen Foundation (@eigenfoundation) September 4, 2024
Tokens will be distributed among participants in three categories:
- stakers and node owners – ~70 million EIGEN, distribution is carried out proportionally to the share ETH-hours steaker;
- ecosystem partners – up to 10 million EIGEN;
- Community members – ~6 million EIGEN, to receive it you need to link wallet addresses to social networks before September 11.
A snapshot was taken on August 15 at 22:26:59 UTC (August 16 at 01:26:59 Moscow/Kyiv time). Token distribution will begin “on or before September 17.”
Table of token distribution among stakers and node operators. Data: Eigen Foundation.
When you go to the brand page using VPN, the site asks you to turn it off. Access from certain regions may also be restricted.
Data: Eigen Foundation brand page.
The total emission of EIGEN is 1.67 billion. The price of one token on the premarket is $2.77, which values the FDV of EigenLayer at ~$4.6 billion.
EIGEN Token Premarket. Data: Hyperliquid.
At $2.77, the Season 2 airdrop is worth ~$238 million.
EigenLayer is the second largest DeFi project by volume TVLyielding to the liquid staking protocol Lido.
Top 10 projects by TVL. Data: Defi Llama.
At its peak in June 2024, EigenLayer’s total value locked was $20 billion, and has since declined to $11.357 billion.
In April, the project announced the launch of EIGEN and the distribution of 5% of tokens during the first season of Stakedrop. At that time, market participants negatively perceived the information about long vesting and regional restrictions. The main complaint is related to the holding periods of tokens – after the hallmark, EIGEN could not be moved, and the monthly unlock was only 5%.
The project’s regional policy also raised questions. The platform team decided not to allow users from the US, Canada, Russia, China and a number of other countries to distribute, and also warned about blocking for using VPN services.
EigenLayer Update
Eigen Labs Company reported about the EigenPod update, which makes the restaking protocol “simpler and more profitable.”
The upgrade integrates the new Ethereum validator balance verification and management system and EigenPod. All custom contracts are automatically upgraded.
Thanks to this innovation, EigenPod owners can:
- request remuneration in bulk, which significantly reduces gas costs;
- earn more profit by re-staking your earned rewards;
- use an improved user interface.
In May, the media learned that the co-founders of the DeFi platform Lido were secretly funding EigenLayer.
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Source: Cryptocurrency
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