Ethereum restaking protocol EigenLayerhas officially announced its plan to airdrop free tokens to users in two stages and offer a new staking security system.
EIGEN The native token named will be launched with a total supply of 1.67 billion. The Eigen Foundation will manage the airdrop, which is planned to start next month. According to an April 29 blog post from Eigen Labs, 45% of this supply is designated for distribution.
EigenLayer Airdrop Plan
The first category, called stakedrops, includes a 15% allocation and will reward stakers for locking Ethereum (ETH) in EigenLayer’s protocol. According to DefiLlama, users have locked over $15.7 billion on the ETH restaking platform since its launch last June.
Additionally, airdrop distribution will take place in two stages. The first phase will share 5% of the total 15% stakedrop allocation based on a linear calculation that takes into account factors such as amount staked, time staked, and local restaking.
The snapshot for the first distribution was received on March 15, and eligible users can claim 90% of the EigenLayer airdrop by May 10. they will be able to. The second distribution will begin a month later, allowing stakers to collect the remaining 10% of the total 15% stakedrop allocation.
Today the @eigenfoundation introduces EIGEN, based on research by @eigen_labsalongside a Season 1 Stakedrop.
NEWS CONTINUES BELOWEIGEN is the Universal Intersubjective Work Token, complementing ETH as the Universal Objective Work Token in EigenLayer.
See the full Eigen Foundation announcement: https://t.co/ZxswOiwWyR
— EigenLayer (@eigenlayer) April 29, 2024
There is also a 120-day time limit for EigenLayer primary distribution claimants. EIGEN tokenwill be non-transferable at launch to encourage community participation in governance. Still, eligible users can take a stake for securing EigenDA, a data availability solution released as a complementary layer to the restaking protocol.
The other two user categories in the platform’s distribution plan include 15% allocations for community initiatives and ecosystem developments, respectively.
Early contributors will receive 25.5% of EIGEN’s total offering, while investors will be entitled to 29.5%. Both parties will have a three-year vesting schedule, with 4% of holdings vesting monthly over the last two years.
EigenLayer is also preparing to introduce cross-subject forking to overcome on-chain patterns that may evade immediate detection. The crypto-economic security concept will support restarts of ETH and address subjective errors to simplify the activities of validators dealing with restarts.
