The Eigenlayer team has launched the OWN token.
Ethereum's reset protocol Eigenlayer has started the token request process, or “airport” for Phase 1 rewards, according to a May 10 blog post by the protocol's development team. The claim process allows users who owe their new EIGEN tokens to finally receive them after weeks of waiting. However, EIGEN is currently non-transferable, so users cannot sell it.
According to the post, EIGEN can be transferred after the group implements new features in the coming months. September 30 is the deadline for these applications. The claim process will close on September 7th, and users who have not claimed before that date will not be able to receive their tokens.
According to Eigenlayer documents, the token is not available to users in more than 30 regions, including the United States, Russia, China and Canada. Most VPN server addresses are also blocked from being used to request it.
Related: Eigenlayer EIGEN Releases White Paper, Blocks Airdrops for US Users
A total of 6.05% of EIGEN's total supply is open to the claims process, with an additional 0.7% from “Phase 2” starting in mid-June, the article said. Starting in mid-June, users of Kelp, Pendle, Equilibrium and other “similar” apps will start claiming their tokens, but the current airdrop is mostly limited to users who re-hold Ether (ETH) or hold its liquid derivatives. On Eigenlayer before March 15th.
Users of Liquid Recycling Tokens (LRTs) can now claim their rewards as long as their activities are not classified as part of “phase 2”. Additionally, users who redeemed on Eigenlayer “between March 15 and April 29” can claim their 100 bonus tokens now, while most of their claims will be available in mid-June with other Phase 2 participants.
EIGEN's airdrop is controversial in the decentralized finance community. Queen Labs founder Leandro Schlotchauer says it may be the last of the “life-changing airdrops.” In contrast, many eigenlayer users have criticized Weather for blocking VPN servers, distributing immutable tokens, and using what they believe is a short latency.
