EigenLayer Unveils Phase Two of EIGEN Token Airdrop 🌟

EigenLayer, a prominent restaking protocol on the Ethereum network, has announced an exciting development for its community: the second phase of the EIGEN token airdrop is set to unfold. This announcement brings forth an opportunity for users to claim their EIGEN tokens, marking the completion of the anticipated “Stakedrop 2.” As outlined in the project’s white paper, the EIGEN coin is referred to as the “Universal Intersubjective Work Token,” and it will become tradable starting September 30. The protocols affiliated with EigenLayer are actively organizing to facilitate this token distribution through the airdrop.

🌟 EigenLayer Launches Second Phase of the EIGEN Airdrop

EigenLayer has confirmed the initiation of the “Stakedrop 2,” consisting of the second phase of its EIGEN token airdrop. With a total value locked (TVL) of approximately $11 billion, EigenLayer’s recent communication has detailed all significant aspects of the EIGEN resource distribution through its blog. The current airdrop aims to reward three specific groups: Stakers & Operators, Ecosystem Partners, and Active Community Members. The cumulative rewards amount to 86 million EIGEN, which represents 5% of the overall token supply.

A recent tweet from EigenLayer’s foundation reflected appreciation for its community, stating:

“Today the @eigenfoundation announced the EIGEN Season 2 Stakedrop. This is a celebration of our incredible community – stakers, operators, partners, and early supporters who continue to build and innovate with us. Stay tuned for claims, programmatic incentives, and more!”

🎉 Rewards Distribution: Who Will Benefit?

Diving into the specifics, EigenLayer has allocated 70 million EIGEN tokens, equivalent to 4.2% of the total supply, for stakers and operators. Participants who have staked assets or managed nodes on the platform between March 15 and August 15 qualify for these rewards. For every 1,000 Eigen Points accrued, users will receive approximately 3.36 EIGEN. Additionally, those who delegated EIGEN earned during the first airdrop phase will also see contributions toward their rewards.

The claims portal is set to launch on September 17, 2024, at https://claims.eigenfoundation.org/.

💻 Community Contributions Rewarded

EigenLayer has designated 6 million EIGEN tokens, representing 0.35% of the overall supply, specifically for community members. This allocation acknowledges the efforts of open-source contributors and early supporters who have propelled the platform’s growth from the start.

To verify eligibility, users can access the social identity verification platform at surfact.eigenfoundation.org. EigenLayer conducted different snapshots for the various participant categories on either April 1 or August 15, establishing clear guidelines for reward distribution based on the type of engagement.

🤝 Ecosystem Partners Join the Airdrop Excitement

As part of the second phase of the EIGEN token airdrop, ecosystem partners are participating actively. This includes various “Actively Validated Services” (AVS), such as EigenDA, Witness Chain, eOracles, Hyperlane AVS, and the Lagrange ZK Prover Network. Furthermore, Liquid Restaking Protocols (LRTs) embracing EigenLayer will also receive a financial contribution. Overall, this group will share a pool of 10 million EIGEN tokens, which accounts for 0.6% of the total token supply. Claims for this allocation will also open on September 17.

🔍 Clarification for Liquid Restaking Protocol Users

If users are involved with LRTs like Kelp, Pendle, and Swell, there are some essential considerations. Should specific LRT tokens such as rswETH from Swell be staked via the liquid restaking protocol, those rewards will be disbursed directly through the respective projects. Else, if the stake has gone through the EigenLayer interface (e.g., swETH from Swell), the rewards will be allocated through the existing claims portal, ensuring uniform treatment across all participating protocols.

The distribution method will maintain the same structure for all contributors, regardless of their protocol affiliation, and the reward allocation remains constant per 1,000 points accumulated.

📅 Key Dates for EIGEN Token Availability

The airdrop claims for Season 2 will commence on September 17, with the crucial date for the transferability of EIGEN tokens set for September 30. This date heralds the beginning of trading for the EIGEN resource, classified by the protocol as the “Universal Intersubjective Work Token.” Users from the previous season have been eagerly awaiting this development.

As the final phase of accumulation approaches, 12% of the entire token supply will be made accessible simultaneously. The remaining 3%, derived from the total of 15% dedicated to airdrop initiatives, will be introduced to the community through various forthcoming programs.

📉 Market Sentiment and Future Expectations

While the claim process for Season 2 is eagerly anticipated, it’s noteworthy that traders have already begun to engage with the token on various premarket platforms. Although the initial pricing of EIGEN is likely to start lower than earlier projections from the first airdrop phase, the total supply is recorded at 1.67 billion EIGEN tokens, hinting at a market footprint of approximately $8.4 billion at launch.

Recent trends indicate that the cryptocurrency market has faced headwinds stemming from negative sentiment and hesitancy, further compounded by caution within the community of airdrop participants.

As the crypto space evolves, you remain part of a dynamic landscape that offers opportunities and challenges alike.

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