EigenLayer to cough up 28M more EIGEN after air drop response

Ethereum's rebalancing protocol EigenLayer is offloading nearly 28 million more of its native EIGEN tokens to more than 280,000 wallets — just days after the initial airdrop was announced.

On Monday, EigenLayer announced that it would allocate 15 percent of its total offering to the community, but some users consider the airdrop program too restrictive.

In a post to X on May 2, the EIGEN Foundation said that more EIGEN tokens will now be over-the-air for users who interacted with the protocol before April 29 — which includes early adopters.

In a follow-up blog post, the re-application protocol shared that Season 1 claimants are set to receive at least 110 EIGEN, while Season 2 claimants – who connected to the protocol between March 15 and April 29 – will receive at least 100. Eigen

While the token has yet to go public, EIGEN's perpetual futures contracts currently trade at $10 on Evo Data, meaning the latest airdrop could be worth around $280 million.

This price of EIGEN may change significantly before the official distribution of the token on May 10th.

Users who felt left out of the initial airdrop spoke out on the rerun protocol after announcing the stakedrop program on April 30.

Critics have focused their biggest criticism on EIGEN's non-transferable token structure, a lower than expected 15% community allocation, as well as users from 30 countries including the US, Canada, China, and Russia being blocked from claiming EIGEN tokens.

EigenLayer shared that it wants to include more of its TestNet users beyond Weather.

“We will update the missed Testanet user assignments as of Season 2 Season 1. We will provide more details in the coming weeks,” Eigenlayer wrote.

Related: EigenLayer Sees Over 12,000 Queues – How Much Will TVL Fall?

The Egan Foundation said in its first weather announcement that users will be able to claim their tokens starting May 10, but they will not be able to transfer or sell them until an unspecified date.

EigenLayer said this was done to ensure EIGEN was “well-established,” including fees and deduction parameters, before being transferred between users.

In a very recent blog post, EigenLayer provided more details about EIGEN's non-transferability but still did not provide a date for the tokens to be transferred to users.

After the token is transferred to the community, private investors and team members will be locked in for a full year, he said.

“After that, they unlock 4% per month and complete a full unlock three years after transmission. This allows users of the protocol to access transmission power before any major contributors can.”

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