Eigen Foundation to distribute 100 more EIGEN to token holders, following airdrop backlash
Quick Take
- EIGEN airdrop recipients will get at least 100 EIGEN.
- EigenLayer clarifies that investor tokens will start vesting after token transferability starts, beginning sometime after September 30.
- The airdrop plan changes come after the Eigen Foundation faced widespread criticism over its airdrop.
The Eigen Foundation will airdrop 100 more EIGEN to more than 280,000 wallet holders, shortly after its community took aim at its controversial airdrop.
Season 1 claimants will receive at least 110 EIGEN, while Season 2 will get 100 EIGEN or more, the Eigen Foundation said Thursday in a post on X. The developers are distributing more tokens after facing public backlash over the EIGEN airdrop plan, including criticisms of a stipulation that bars claimants from cashing out their allocations for a fixed period of time.
The Eigen Foundation did not immediately reply to The Block's request for comment.
In a blog post, published on Thursday, EigenLayer also clarified that investor tokens will start vesting after token transferability starts. The token will become unlockable sometime after Sept. 30, 2024, when new features roll out on Eigenlayer's mainnet, according to the post.
The developers behind Eigenlayer also addressed other criticism from crypto traders, vowing to make things up to eligible individuals who were excluded from its airdrop.
According to the Eigen Foundation, missed testnet user allocations will be updated as part of Phase 2 of Season 1, with more details coming in the next few weeks.
(Updated headline and story throughout for clarity.)
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
