The Eigen Foundation is set to airdrop approximately $1,000 of EIGEN each to over 280,000 wallet holders shortly after the community targeted the controversial airdrop.
Applicants for Season 1 will receive at least 110 EIGEN, while Season 2 applicants will receive at least 100 EIGEN. said Developers are distributing more tokens after facing public backlash against the EIGEN airdrop plan, including criticism of rules that prohibit claimants from cashing out their allocations over a period of time.
The Eigen Foundation did not immediately respond to The Block’s request for comment.
In a blog post published on Thursday, EigenLayer said investor tokens will begin vesting after token transfers begin. According to the post, the tokens could be unlocked sometime after September 30, 2024, when new features are launched on Eigenlayer’s mainnet.
Eigenlayer developers also addressed other criticisms from cryptocurrency traders, pledging to provide compensation to eligible individuals excluded from the airdrop.
According to the Eigen Foundation, missing testnet user allocations will be updated as part of Phase 2 of Season 1, with more details expected in the coming weeks.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, crypto, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. X: Follow her at @LizKNapolitano.