EigenLayer to launch airdrop in May following the introduction of the Eigen Foundation

Source Fxstreet
  • EigenLayer announced it would launch season one of its airdrop on May 10.
  • EIGEN tokens would play a key role in the recently introduced "intersubjective forking."
  • Some crypto community members have expressed dissatisfaction with the airdrop vesting schedule.

EigenLayer's phase one for the first season of its airdrop will go live on May 10. The newly launched EIGEN token would play a key role in securing EigenDA and actively validated services (AVS).

Also read: EigenLayer TVL crosses $15 billion despite potential yield crisis

Eigen Foundation unveils EIGEN airdrop

Ethereum restaking protocol Eigenlayer announced the airdrop of its native token EIGEN on Monday. After going live on April 9, rumors of a potential airdrop from the leading Ethereum restaking protocol reached the crypto community. The platform, which boasts nearly $16 billion in total value locked (TVL), said the airdrop or so-called "stakedrop" will go live in May. The Eigen Foundation, a newly created non-profit "dedicated to accelerating the growth of the EigenLayer ecosystem, made the airdrop announcement."

However, the token will face a brief lockup period before it is available for sale in the broader market. In the meantime, users will stake their tokens to secure the EigenDA data availability layer. The Eigen Foundation said other AVS will also participate in staking soon.

Read more: Restaking protocols continue their rise despite risk concerns

EIGEN's total supply at launch is 1.67 billion tokens, with 45% going to the community, 29.5% to investors, and 25.5% to early contributors. While the issuance will follow different vesting schedules and structures, EIGEN will operate as an inflationary token.

The airdrop, which would unfold in different seasons, would see 5% of the initial token supply going to restakers in this first season "based on a snapshot taken on March 15, 2024, at Ethereum block #19437000." Season 1 comprises two phases, with 90% released on May 10, while the other 10% in subsequent releases.

The launch of EIGEN follows a key introduction in EigenLayer known as "intersubjective forking."

The process involves punishing bad behavior that can't be objectively identified on-chain by allowing for the forking of the token itself "without forking Ethereum Mainnet consensus."

The Eigen Foundation noted that "Intersubjective forking is the key innovation behind the EIGEN token," and it would complement Ethereum restaking.

Also read: Ethereum dips slightly amid Renzo depeg, BlackRock spot ETH ETF amendment

Since the airdrop announcement, some crypto community members have expressed disappointment concerning certain areas of the airdrop schedule, especially the initial lockup period. Some even went as far as accusing EigenLayer of providing insider information to key individuals.

It's important to note that the airdrop excludes users from key areas such as the US, Canada, and some parts of Africa and Asia. Several users also expressed dissatisfaction with the country segregation in the airdrop.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Who Can Challenge TSMC? Q1 Net Profit Jumps 58% Year-on-Year, AI Demand Becomes Biggest Driver On April 16, TSMC ( TSM) reported its first-quarter 2026 financial results, with core financial metrics exceeding market expectations across the board and profitability achieving a breakt
Author  TradingKey
10 hours ago
On April 16, TSMC ( TSM) reported its first-quarter 2026 financial results, with core financial metrics exceeding market expectations across the board and profitability achieving a breakt
placeholder
AUD/USD climbs above 0.7170 as truce hopes lift risk appetiteThe Australian Dollar extended its gains on Wednesday, up by 0.72% as risk appetite improved amid speculation of a de-escalation of the conflict, keeping oil prices in check as WTI held above $91, despite posting losses of nearly 0.80%. At the time of writing, the AUD/USD trades at 0.7173.
Author  TradingKey
19 hours ago
The Australian Dollar extended its gains on Wednesday, up by 0.72% as risk appetite improved amid speculation of a de-escalation of the conflict, keeping oil prices in check as WTI held above $91, despite posting losses of nearly 0.80%. At the time of writing, the AUD/USD trades at 0.7173.
placeholder
Nasdaq Index Rises for 10 Straight Days, Why Has Tesla Barely Risen?On April 14, the Nasdaq notched its tenth consecutive session of gains, marking its longest winning streak since 2023. It has risen nearly 14% from its recent lows, as the 'Magnificent Se
Author  TradingKey
Yesterday 10: 25
On April 14, the Nasdaq notched its tenth consecutive session of gains, marking its longest winning streak since 2023. It has risen nearly 14% from its recent lows, as the 'Magnificent Se
placeholder
Gold eases from four-week top as Hormuz risks temper USD weaknessGold (XAU/USD) hits a nearly four-week high during the Asian session on Wednesday, though it lacks follow-through buying and currently trades just below the $4,850 level, nearly unchanged for the day.
Author  FXStreet
Yesterday 07: 33
Gold (XAU/USD) hits a nearly four-week high during the Asian session on Wednesday, though it lacks follow-through buying and currently trades just below the $4,850 level, nearly unchanged for the day.
placeholder
Silver Price Forecasts: XAG/USD approaches $78.00 boosted by Iran peace hopesSilver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.
Author  TradingKey
Apr 14, Tue
Silver (XAG/USD) is rushing higher on Tuesday, reaching fresh two-week highs right below $78.00 at the time of writing, after bouncing from lows around $72.60 on Monday.
goTop
quote