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The team behind the largest restaking protocol, EigenLayer, has released a white paper detailing the new token EIGEN and its distribution terms. The cryptocurrency community has voiced concerns regarding the conditions of the airdrop.
EigenLayer, a restaking protocol operating on the Ethereum blockchain, has announced the introduction of EIGEN, the native token of the system, with its white paper now available on GitHub.
The EIGEN token is intended for applications that depend on mutual agreement, including prediction markets, data storage solutions, gaming virtual machines, and more. Its design will enable versatility, allowing it to be utilized across various domains. The total supply of EIGEN at launch will be 1.67 billion tokens.
The project team has also revealed plans to allocate approximately 15% of the total token supply to the community. The airdrop will occur in two phases, specifically:
- 5% will be allocated to early users;
- 10% will be distributed to users engaging with EigenLayer in subsequent phases.
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Users from specific jurisdictions are excluded from participating in the token distribution. Consequently, the airdrop page is not accessible in the U.S., Canada, China, and Russia, and the team is ensuring that individuals from these regions cannot access the distribution even through a VPN.
The geographical limitations on airdrops have sparked outrage among members of the cryptocurrency community. They argue that since there is no prohibition on using the protocol for users in these countries, it is unjust to exclude them from the distribution.
Additionally, some users have expressed frustration regarding the duration of token locking following the airdrop. Recipients of EIGEN from the distribution will be able to unlock their tokens before March of next year.
Other users have criticized the linear distribution model of EIGEN, asserting that this airdrop approach is inequitable as the majority of tokens will be allocated to large restakers, who may sell their tokens at the earliest opportunity.
Thanks to the popularity of the EigenLayer TVL protocol, the restaking sector is experiencing significant growth this year. At the end of February, venture capital firm a16z invested $100 million into the development of the project’s ecosystem.
Сообщение EigenLayer Launches EIGEN and Reveals Airdrop Terms появились сначала на CoinsPaid Media.
