The extremely anticipated Ethereum restaking protocol has launched a declare portal for airdrop recipients, who had been allotted 5% of the EIGEN provide in Season 1.
EigenLayer, the much-hyped Ethereum restaking protocol with practically $16 billion in whole worth locked (TVL), will launch its native EIGEN token on Might 10.
The venture has launched the token’s whitepaper on GitHub and deployed a declare portal on its web site. In line with the airdrop phrases, residents of the US and Canada are usually not eligible to assert EIGEN. The Eigen Basis says it has “carried out proxy and VPN detection and blocking controls” to stop claims by residents of ‘Prohibited Jurisdictions.’
The EIGEN token is not going to be transferable at launch because the venture appears to realize sure milestones earlier than making it tradeable, together with elevated decentralization of the token provide and neighborhood dialogue.
EigenLayer is DeFi’s third-largest protocol by TVL after Lido and Aave, in accordance with DeFiLlama. It permits customers to re-stake their Ether or liquid staking tokens (LSTs) to earn extra yield by securing third-party purposes referred to as Actively Validated Providers (AVS).
Of EIGEN’s 1.67 billion whole provide, 45% has been allotted to neighborhood initiatives, whereas traders obtain 29.5% and contributors get 25.5%, in accordance with a report from The Block. The investor and staff allocations will vest linearly over two years after a one-year cliff.
The Basis has allotted 15% of the entire EIGEN provide for airdrops, of which 5% might be claimable on Might 10, with the remaining tokens used for future incentives. Notably, solely direct restakers and customers who participated via Liquid Restaking Tokens (LRTs), like EtherFi’s eETH and Renzo’s ezETH, are eligible for the primary declare.
Nevertheless, customers of associated DeFi protocols like Pendle and Equilibrium should wait till Season 2. “Figuring out the suitable recipients of the stakedrop for sure LRT finish customers was both not attainable or required subjective selections as a result of these customers’ interactions with sure DeFi protocols,” the web site states.
