Claim Your EIGEN Tokens Now!
Good news! EigenLayer has initiated its token-claim process, commonly known as an “airdrop,” for Season 1, Phase 1 rewards. Now, you have the opportunity to acquire your new EIGEN token through the claims process after a period of anticipation.
Token Transferability in the Future
The team mentioned in a recent blog post that the EIGEN token will become transferable once new features are implemented in the upcoming months. The target date for these updates is set for September 30th.
- Make sure to claim your tokens before the process closes on September 7th.
- Any unclaimed tokens after this date will not be distributed.
- Users in over 30 jurisdictions, including the United States, China, and Canada, are not eligible for the EIGEN tokens.
- VPN server addresses are also prohibited for token claims.
Unlocking Token Supply
The current claims process has unlocked 6.05% of the total EIGEN token supply, with an additional 0.7% set to be unlocked in mid-June during “Phase 2.” This phase will allow users of various applications to claim their tokens.
- Restaked Ether or its liquid staking derivatives before March 15 are the primary recipients of this airdrop.
- Users can claim their rewards now if they hold liquid restaking tokens (LRTs).
- Users who restaked between March 15 and April 29 can claim 100 bonus tokens immediately.
Controversies Surrounding the Airdrop
The EIGEN airdrop has stirred controversy within the DeFi community. While some see it as a potentially “life-changing” event, others have criticized it for various reasons:
- Ban on VPN servers for claims.
- Distribution of nontransferable tokens.
- Perceived short snapshot period.
LayerZero Labs’ Approach to Airdrop
As the airdrop season continues, LayerZero Labs, a renowned cross-chain interoperability protocol, is taking steps to address the issue of sybil farmers before its upcoming airdrop:
- Conducting an internal investigation to exclude sybil farmers from receiving allocations.
- Launching a reward program offering a 10% bonus for identifying additional sybil users.
The project recently completed the first snapshot for its airdrop, with plans to distribute tokens to early adopters in the first half of 2024.
Hot Take: Stay Informed and Take Action!
Now that you are up to date on the latest in token claims and airdrops, make sure to stay informed about your eligibility and the process. Remember to claim your tokens before the deadline to ensure you don’t miss out on potential rewards!
Sources:
1. EigenLayer Blog
2. LayerZero Labs News
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