EigenLayer Initiates Airdrop Season Inviting Users to Claim 113M Non-Transferable EIGEN Tokens

By: Eva Baxter

Blockchain restaking ecosystem, EigenLayer, has declared the beginning of its keenly awaited airdrop season where eligible participants can claim part of the initial EIGEN token supply. The first phase starts with 6.05% of the total supply, available from May 10. By mid-June, 'Season 1 phase 2' will increase the claimable amount to a total of 6.75%. Participants in Season 1 will receive approximately 113 million EIGEN tokens, with EigenLayer setting aside 15% of the initial token supply for the community across all seasons, demonstrating its commitment to inclusive participation.

Interestingly, EigenLayer has clarified that EIGEN Tokens are currently non-transferrable. Plans are in place to enable token transfers when new features are launched and further decentralisation is achieved by the expected deadline of September 30, 2024. During transfer restrictions, neither core contributors nor investors will receive EIGEN staking rewards and no inflation will take place.

Despite stringent regulations that exclude VPN users and residents of nations like the US, Canada, and China from its airdrops, EigenLayer has gained significant traction in the space, reportedly collecting $14 billion in assets since its 2023 inauguration. Its restaking service provides amplified returns by leveraging the process of depositing Ether (ETH) to support the Ethereum blockchain, making it an attractive choice for Ethereum stakeholders.