EigenLayer opens airdrop claims till Sept. 7

As an analyst with a background in cryptocurrency and blockchain technology, I’ve followed the developments surrounding EigenLayer’s token distribution closely. While I understand the excitement around receiving free tokens, I cannot help but express my concern over the recent announcement that users can now claim EIGEN despite the team’s previous statements about it remaining non-transferable.

As a crypto investor, I’ve recently learned that I can now obtain EigenLayer’s native token. However, the team had previously announced that EIGEN tokens would not be transferable. So, effectively, I’ll be receiving a non-transferable token from EigenLayer.

As a analyst, I would express it this way: Starting from May 10, you have a 120-day window, which extends until September, to make your claim with EigenLayer during its first phase “stakedrop” event.

During the distribution, participants have the opportunity to acquire 6.05% of the total supply of 1.67 billion tokens. In the subsequent phase, an additional 0.7% of tokens will be made accessible.

Excited news! Claims for EIGEN are now available in Phase 1 of Season 1. By staking your EIGEN token, you contribute to the advancement of both eigenlayer and Ethereum, fostering open innovation. Let’s get started!

— Eigen Foundation (@eigenfoundation) May 10, 2024

EigenLayer intends to distribute a total of 113 billion EIGEN tokens to qualified users who have held Ether (ETH) in the staking platform for extended periods. As announced by the Eigen Foundation, this distribution will occur in several installments, with each recipient receiving a 15% share of the overall EIGEN token supply.

The crypto community expressed dissatisfaction with the proposed roadmap due to restrictions on sending EIGEN tokens between wallets and certain areas being excluded from the airdrop.

As an analyst, I’ve come across an issue regarding the inaccessibility of a claims website for users based in the U.S., Canada, Africa, and certain Asian regions. Normally, utilizing a Virtual Private Network (VPN) could bypass such restrictions. However, even VPN users have been denied access, fueling concerns over the EigenLayer protocol and its potential limitations.

In the second quarter of 2024, the debated EigenLayer airdrop was among numerous token distributions causing a stir in the crypto community. Similarly, LayerZero faced criticism over its controversial anti-Sybil mechanisms and “report-to-earn” scheme.

In other circles, there are doubts among experts regarding the potential of EIGEN’s token and Galaxy’s role in enhancing Ethereum’s ecosystem. Christine Kim, a researcher at Galaxy, voiced her concerns on X about the protocol’s whitepaper having several shortcomings and raising questions about identified issues.

After perusing the EIGEN whitepaper, one could ponder if it’s essential to employ an “intersubjective work token” in a restaking protocol that hasn’t yet facilitated fundamental restaking features. In simpler terms, the whitepaper explains how EIGEN functions, but is it mandatory to incorporate such a complex concept for basic restaking capabilities?

— Christine Kim (@christine_dkim) April 30, 2024

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2024-05-10 23:38