The Layer 2 network Eclipse Labs released its ES token through an airdrop, resulting in a 21% price drop within three hours.
$ES claims will begin at 9AM UTC on July 16th
Listings on CEXs will open at 10AM UTC on July 16th
— Eclipse (🐮,🌑) (@EclipseFND) July 15, 2025
The total supply of Eclipse’s native coin is 1 billion. Ten percent, or 100 million, was allocated for distribution among early users. The remaining assets are distributed as follows:
- 350 million (35%) for ecosystem development;
- 310 million (31%) for investors and sponsors;
- 190 million (19%) for the team and future employees;
- 5 million (5%) for liquidity for trading on exchanges.
The distribution began on July 16 and will last for 30 days. All wallets meeting the selection criteria can access the airdrop.
To prevent manipulation, the project took a snapshot after the token distribution started. To avoid insider trading risks, the Eclipse team is not participating in the airdrop.
The Launch of ES
The ES token was deployed across three networks: Eclipse, Ethereum, and Solana. The crypto asset is intended for transaction payments and protocol governance.
The coin was listed on exchanges Bitget, MEXC, Bybit, and Gate.io. According to CoinGecko, ES’s market capitalization reached $58.1 million within three hours. At the time of writing, the token is trading at $0.3916, 21.7% below its launch price.
Users were disappointed with the ES launch. Some accused Eclipse and the NFT project ASC of unfair token distribution and “betraying the community.”
Today really feels like the day @EclipseFND and @asclubnft stabbed us in the back.
Eclipse recently airdropped 2,551 $ES tokens to participants of a meetup held in Seoul, and ASC holders were only allocated 330 $ES tokens.
Why is this laughable?@alucard, Eclipse’s community… pic.twitter.com/UjB0jrn5Xv
— Glenfiddich l $M | 🐜 l 💩 (@glenfiddich_18) July 16, 2025
“Eclipse distributed 2,551 ES to participants of a meetup in Seoul, while ASC token holders received only 330 ES. Alucard_eth, the leader of the Eclipse community and co-founder of ASC, stated that the distribution was based on the initial mint price of ASC — 0.04 ETH. The issue is that in January 2025, he himself urged people in Discord to sell PENGU and buy ASC at 0.548 ETH,” wrote crypto investor Glenfiddich.
According to his post, users who bought ASC at a high price received the airdrop at the old rate. Glenfiddich claimed that Eclipse and ASC’s actions are harming the entire Web3 ecosystem.
A crypto community member known as ApexV added:
“Investors put in a lot of money but got pennies in return.”
The Eclipse Labs project was launched in 2022 with the aim of combining Ethereum’s security with Solana’s speed.
As reported, the cryptocurrency exchange Kraken announced an additional PUMP airdrop following issues with the token sale.