EigenLayer Token Airdrop Draws Flak For ”Confusing Language” And Excluding US And 29 Other Countries

EigenLayer is allocating 15% of its complete EIGEN token provide of 1.67 billion tokens to the neighborhood by an airdrop that’s drawing combined reactions.

EigenLayer might be launching its native token, EIGEN, in Might. Underneath the distribution plan, 45% of the tokens will go to the neighborhood. There may even be 29.5% going to buyers with the remaining 25.5% allotted to early contributors.

At present the @eigenfoundation introduces EIGEN, based mostly on analysis by @eigen_labs, alongside a Season 1 Stakedrop.

EIGEN is the Common Intersubjective Work Token, complementing ETH because the Common Goal Work Token in EigenLayer.

See the complete Eigen Basis announcement: https://t.co/ZxswOiwWyR

— EigenLayer (@eigenlayer) April 29, 2024

The airdrop will happen in “seasons,” EigenLayer mentioned in a weblog put up. Through the first season, 5% of the token provide might be distributed based mostly on a snapshot of staking actions captured on March 15.

Ninety % of those tokens may be claimed on Might 10, whereas the remaining 10% might be distributed in subsequent releases.

The token can be topic to a lockup interval earlier than being accessible for buying and selling within the secondary market.

“We consider this method will greatest help the long-term development and maturity of the EigenLayer ecosystem,” the protocol defined.

EigenLayer Airdrop Attracts Combined Reactions

The language used within the airdrop paperwork has drawn criticism from some customers, who referred to as it “complicated.” One consumer even alleged foul play across the airdrop.

The choice to exclude 30 nations, together with Canada, China, Russia, and the US, from the airdrop additionally drew flak. Such restrictions are unfair as a result of the platform accepted staking from these nations, some critics mentioned.

I’ve simply seen that. Accepting stake from these nations and never rewarding them is not proper. They took a really actual threat for nothing.

— Aylo (@alpha_pls) April 29, 2024

Nonetheless, Apollo Capital’s Henrik Andersson said the airdrop is beneficiant.

“Generally persons are simply looking for causes to be upset,” he mentioned.

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