The first phase of the “stakedrop” from the EigenLayer restaking protocol commenced on May 10. Developers have unlocked 113 million EIGEN for claiming.
♾ Big day for the Eigen Community! ♾
Quick stats:
— 113M EIGENS to users for Season 1, 8.9M staked/delegated in hours!
— 5M+ ETH Restaked
— 11 AVSs & 170 operators active on Mainnet
— EigenLayer (@eigenlayer) May 11, 2024
According to the project team, users staked and delegated approximately 8.9 million EIGEN within the first few hours of the distribution.
Initially, the coins cannot be transferred, so holders can only store or lock them in the protocol. The monthly unlock rate is 5%.
For staking EIGEN, users will earn additional points for the next distribution season, scheduled for mid-June.
According to the tokenomics, 15% of the total supply of 1.67 billion EIGEN is allocated for all EigenLayer airdrops. The community reacted negatively to the distribution rules, including transfer restrictions and regional blocks.
The platform team decided to exclude users from the US, Canada, Russia, China, and several other countries from the distribution, and warned of blocks for using VPN services. However, some American users on X reported successful token claims.
thank u for the tokens
-Philadelphia PA, USA pic.twitter.com/O3XybZLnal
— farmie (@farmiefinance) May 11, 2024
Other users complained of technical difficulties. For instance, an Australian encountered an error where the transaction is automatically rejected in the user interface.
can someone help?
trying to claim my airdrop.
when I get to the last stage of confirming the transaction on ledger I confirm then go back to claims page and it says
“Regected by User”?????I reside in Australia!!
Am I restricted?
or am I doing something wrong?
— why.am.i.always.wrong (@CraigStarling2) May 11, 2024
“I had to do 20 flips and jump through a ring of fire to claim your crappy airdrop using a VPN. Hope 110 tokens are worth more than a dollar,” added Countrybuns.
At the time of writing, the EIGEN token is valued at approximately $8 on the Aevo premarket.
In April, the project team launched the main restaking platform and the beta version of the EigenDA data availability layer on the Ethereum mainnet.
Despite the service’s high popularity, DEX developer 3Jane, known as Chudnov, warned of a potential yield crisis at EigenLayer.