EigenLayer Launches EIGEN Token Airdrop Season 1 Phase 2

solution, has allocated tokens for Phase 2 of its Season 1 airdrop event, while also hinting at the upcoming Season 2.

EigenLayer Launches EIGEN Token Airdrop Season 1 Phase 2

In the early hours of June 20, the Eigen Foundation, which manages the EIGEN token, announced the official details for the Season 1 Phase 2 airdrop event. The event targets users who have interacted with liquid restaking projects in recent times.

Users who restaked on EigenLayer through liquid restaking projects such as Kelp DAO, Pendle, and Equilibrium before March 15, 2024, are eligible for the Season 1 Phase 2 airdrop. The actual amount of tokens received will depend on the respective liquid restaking protocol.

"We’re excited to announce that Phase 2 claims are now open! (Season 2 is coming) Phase 2 marks the completion of Season 1, nearly 113 million EIGEN are now distributed."Eigen Foundation via Twitter on June 19, 2024

EigenLayer has conducted a Sybil check to exclude addresses showing signs of "airdrop farming" from the final eligibility list.

Eligible users have until September 7, 2024, to claim their Season 1 Phase 2 tokens. The Eigen Foundation also announced that it will soon release details about the upcoming Season 2 airdrop, encouraging users to continue staking EIGEN tokens with AVS units being developed on the project. To date, 88% of the tokens allocated in Season 1 have been staked into these AVS units, providing security for applications built on them, such as data availability, AI, decentralized storage, and more.

Airdrop Event Summary

EigenLayer first introduced the EIGEN token at the end of April, allocating a total of 15% of the token supply to the community. The first airdrop (Season 1) was divided into two phases: Phase 1 and Phase 2, differentiating between users directly restaking on EigenLayer's protocol and those using liquid restaking projects. The total token allocation for Season 1 is 6.7%, with the remainder reserved for subsequent seasons.

Despite the initial excitement, the airdrop event faced significant criticism from the community due to unclear tokenomics, ambiguous airdrop phases, non-transferable EIGEN tokens, lack of a vesting schedule, IP blocking for airdrop claims, complex concepts, and insider trading controversies.

In response, EigenLayer distributed an additional 100 EIGEN tokens to 280,000 wallet addresses that had interacted with the protocol before April 29, 2024. The team also clarified the vesting schedule for the development team and investors, and set a deadline of September 30, 2024, to complete necessary features for transferring EIGEN tokens.

Currently, EIGEN tokens are being traded on OTC platforms like Whales Market for around $7.1 per token.

The launch of the EIGEN token airdrop by EigenLayer has sparked a wave of controversial airdrop events in the community, including ZKsync (ZK), friend.tech (FRIEND), and LayerZero (ZRO). Many believe that the airdrop hunting trend has cooled off after more than half a year of intense activity.