EigenLayer, a popular protocol in the crypto market, has unveiled the details of its highly anticipated airdrop, providing clarity for investors. The protocol’s token has shown great promise as the crypto market continues to trend upwards. Airdrops, along with mass listings, typically result in significant valuations for tokens associated with successful projects.
The airdrop, which will distribute 15% of the token supply to stakers, is scheduled for May. The Eigen Foundation will be responsible for issuing the tokens. While the SEC has taken action against the Ethereum Foundation, adding some risk to the situation, EigenLayer has no other option but to proceed with the token issuance. Here are some important details:
Token entitlements can be claimed from the Foundation’s website on May 10th.
The initial token supply will be 1.67 billion tokens.
The Foundation has allocated 45% of the tokens to its own community.
Stakers, community initiatives, and an ecosystem development budget have been allocated 45% of the token supply, with each receiving an equal share of 15%.
Investors will receive 29.5% of the tokens, while early adopters of the protocol will be given 25.5%. There will be a three-year lock-up period, with the first year being fully locked. Over the next two years, 4% of the tokens will be unlocked on a monthly basis.
A whitepaper has been published that explains the structure of the Eigen token and its role within the EigenLayer ecosystem.
Once the Eigen token is launched, users will have the opportunity to stake the token and secure a data availability layer known as EigenDA.
Disclaimer: The information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research.
