Users can now claim EigenLayer’s native token, but the team previously stated that EIGEN is non-transferable.
The 120-day period to claim EIGEN began on May 10 and will run until September for the first phase of EigenLayer’s “stakedrop.”
Participants can secure 6.05% of the 1.67 billion token supply during the distribution, with the second round of allocation increasing the available tokens by 0.7%.
EigenLayer plans to share 113 billion EIGEN tokens to eligible users who deposit Ether (ETH) on its staking platform over the coming months. According to the Eigen Foundation, allocations will be paid out over multiple seasons and users will receive 15% of EIGEN’s total supply.
However, the roadmap has caused frustration within the cryptocurrency community as claimants cannot send EIGEN via wallet and certain areas are geo-blocked from the airdrop.
Users in the United States, Canada, Africa, and Asia cannot access the billing website. Typically VPNs bypass this ban, but VPN users have also been blocked, leading to further investigation into the EigenLayer protocol.
The controversial EigenLayer airdrop is one of several token distributions that shook the cryptocurrency community in Q2 2024. LayerZero also received backlash for its anti-Civil system and “earnings reporting” initiatives.
Elsewhere, experts are skeptical about the promise of the EIGEN token and how the resale giant has contributed to the Ethereum ecosystem. Galaxy researcher Christine Kim said there were many shortcomings in the protocol’s white paper for