Eigen Foundation to distribute extra $1,000 in EIGEN to token holders, following airdrop backlash
EIGEN airdrop recipients will get at least 100 EIGEN, worth roughly $1,000 as of the time of writing. 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.
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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Mars Morning News | Federal Reserve officials send strong hawkish signals again, December rate cut in doubt
The crypto market has generally declined, with bitcoin and ethereum prices falling and altcoins experiencing significant drops. Hawkish signals from the Federal Reserve have affected market sentiment, and multiple project tokens are about to be unlocked. Early ethereum investors have made substantial profits, and expectations for a continued gold bull market persist. Summary generated by Mars AI. The accuracy and completeness of this summary, generated by the Mars AI model, are still being iteratively improved.
IOTA collaborates on the ADAPT project: Building the future of digital trade in Africa together
IOTA is collaborating with the World Economic Forum and the Tony Blair Institute for Global Change on the ADAPT project. ADAPT is a pan-African digital trade initiative led by the African Continental Free Trade Area. Through digital public infrastructure, ADAPT connects identity, data, and finance to enable trusted, efficient, and inclusive trade across Africa.
Trending news
MoreCrypto prices
More
