EigenLayer Launches EIGEN Token Airdrop, Tokens Remain Non-Transferable

EigenLayer Launches EIGEN Token Airdrop, Tokens Stay Non-Transferable

Ethereum restaking protocol EigenLayer has initiated its token-claim process, commonly frequently called an “airdrop,” for Season 1, Fragment 1 rewards.

Consistent with a most contemporary weblog submit by the protocol’s model team, customers who are eligible for the current EIGEN token can now compose it throughout the claims process after about a weeks of anticipation.

Nonetheless, it’s critical to stamp that EIGEN tokens are currently nontransferable, which system customers can not promote or commerce them.

EIGEN Token to Became Transferable in Future

The weblog submit additional talked about that the EIGEN token will modified into transferable as soon as the attain team implements current aspects in the upcoming months.

The tentative purpose date for these implementations is made up our minds for September 30.

It’s critical for customers to dispute their tokens sooner than the claim process closes on September 7, as any unclaimed tokens after that date will now not be distributed.

Consistent with EigenLayer’s documentation, the EIGEN token is now not on hand for customers in over 30 jurisdictions, including the United States, Russia, China, and Canada.

Furthermore, most VPN server addresses are prohibited from being normal for token claims.

The most contemporary claims process has unlocked 6.05% of the full provide of EIGEN tokens, and an extra 0.7% will be unlocked in mid-June sometime of “Fragment 2.”

At that point, customers of purposes reminiscent of Kelp, Pendle, Equilibrium, and identical apps will be eligible to dispute their tokens.

The continuing airdrop essentially caters to customers who restaked Ether or its liquid staking derivatives on EigenLayer sooner than March 15.

Customers who defend liquid restaking tokens (LRTs) can moreover claim their rewards now, as lengthy as their actions compose now not tumble under “Fragment 2.”

Furthermore, customers who restaked on EigenLayer between March 15 and April 29 are eligible to dispute 100 bonus tokens straight, with the massive majority of their claims turning into on hand in mid-June alongside other Fragment 2 participants.

The EIGEN airdrop has sparked controversy at some stage in the decentralized finance (DeFi) neighborhood. Leandro Schlottchauer, co-founder of Kuyen Labs, acknowledged that it can probably presumably well also very effectively be some of the final “existence-altering airdrops.”

Conversely, many EigenLayer customers non-public criticized the airdrop for its ban on VPN servers, the distribution of nontransferable tokens, and its perceived immediate snapshot length.

LayerZero Labs to Exclude Sybil Farmers From Airdrop

As airdrop season rages on, LayerZero Labs, a notorious depraved-chain interoperability protocol, has vowed to kind out the assert of sybil farmers sooner than its highly anticipated airdrop.

The mission has acknowledged that it goes to conduct an inner investigation to name and exclude sybil farmers from receiving allocations in its future token era match.

Furthermore, the mission plans to birth a reward program, providing a 10% bonus of the supposed token allocation to bounty hunters who name additional sybil customers.

LayerZero Labs unbiased nowadays performed the first snapshot for its highly anticipated airdrop.

In December, the mission launched its plans to distribute tokens to early adopters in the first half of of 2024.

Source : cryptonews.com