Airdrops

Exclusive: EigenLayer Unveils Airdrop Plan for Upcoming Native Token

EigenLayer Announces Airdrop for New Native Token

Cryptochronicle.xyz, a top crypto news site, delves into the recent announcement made by EigenLayer regarding its upcoming token airdrop. This exciting news includes a generous allocation for active participants within the EigenLayer ecosystem. Let’s take a closer look at the distribution plan and features of this new token.

Token Distribution Plan
EigenLayer, renowned for its innovative restaking protocol, is gearing up to launch its native token in May. The non-profit Eigen Foundation will oversee the distribution of these tokens, with a total supply of 1.67 billion tokens. A significant portion of this supply has been allocated for the community and other stakeholders.

Of the total supply, 45% has been designated for various community-focused initiatives:
– Stakedrops: 15% will be distributed to users through stakedrops as a reward for staking their tokens.
– Community Initiatives: Another 15% will support community-led projects.
– Ecosystem Development: The remaining 15% aims to foster the growth of the broader ecosystem.

Investors and early contributors to EigenLayer are also acknowledged, receiving 29.5% and 25.5% of the tokens, respectively. These allocations come with a three-year lockup period, including a complete lock during the first year, followed by a gradual monthly release of 4% over the next two years.

Airdrop Details and Eligibility
EigenLayer’s community airdrop, humorously called a ‘stakedrop’, is designed to distribute 15% of the token supply across multiple seasons to engaged platform users. The initial 5% distribution will be based on a snapshot of staking activities as of March 15, 2024. Most of these tokens (90%) will be claimable on May 10 for eligible participants, with a 120-day claim window. The remaining 10% will be available in a subsequent phase.

Restaking and Token Utility
EigenLayer enables users to deposit and restake ether from various liquid staking tokens, with a whopping $16 billion in ether staked on the platform since its inception. The tokens, initially non-transferable post-claim, will eventually be stakable to secure EigenLayer’s data availability layer, EigenDA, and potentially other Autonomous Validation Services (AVSs) in the future.

Introducing Intersubjective Forking
In addition to the token release, EigenLayer is pioneering a new concept called intersubjective forking. This mechanism addresses hidden malicious behaviors, like data withholding, which are challenging to detect immediately on-chain. It represents a departure from the conventional slashing penalties imposed for identifiable on-chain faults, aiming to ease the burden on Ethereum validators.

EigenLayer’s introduction of its native token and innovative intersubjective forking concept signifies a significant advancement in crypto-economic security systems. With a community-centric approach and robust ecosystem participation incentives, EigenLayer is establishing a new standard in the blockchain industry.

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