- EigenLayer’s token EIGEN will release in May, with a complete provide of one.67 billion tokens.
- The Eigen Foundation has introduced an airdrop for the group, set for May.
The Eigen Foundation, the non-profit supporting the advance of restaking protocol EigenLayer, has introduced the release and distribution of the local token EIGEN.
Alongside the announcement for the token, the root and the Eigen Labs workforce unveiled the EigenLayer whitepaper. The mission, which attracted funding from Binance Labs and a16z early this yr, has observed fantastic enlargement relating to staked Ether (ETH).
EIGEN token release and airdrop
According to lately’s announcement, the Eigen Foundation will release the EIGEN token in May. An airdrop for the group of stakers on EigenLayer may even move are living.
The new token is ready at a complete provide of one.67 billion, with 45% of the EIGEN tokens allotted to the group.
Today the @eigenfoundation introduces EIGEN, in response to analysis through @eigen_labs, along a Season 1 Stakedrop.
EIGEN is the Universal Intersubjective Work Token, complementing ETH because the Universal Objective Work Token in EigenLayer.
See the overall Eigen Foundation announcement: https://t.co/ZxswOiwWyR
— EigenLayer (@eigenlayer) April 29, 2024
Per the main points in a blog post summarizing the distribution, 15% of provide will move to stakedrops, some other 15% put aside for group projects and a an identical quantity (15%) allotted to the EigenLayer ecosystem building.
The EIGEN airdrop Season 1 will see the group get a possibility to snatch a percentage of five% of the token provide. This allocation is going to stakedrop contributors captured in a snapshot taken on March 15, 2024. Claims for this airdrop start on May 10, with 90% of the tokens claimable for as much as 120 days.
The subsequent batch, which is the remainder 10%, will move are living will 30 days after the primary section declare window ends.
Meanwhile, the Eigen Foundation has earmarked 29.5% of provide for buyers and 25.5% for early individuals.
Allocations to buyers and early individuals face a 3-year crypto vesting length, with overall lockup in yr 1. The subsequent two years will come with an free up charge of four% per thirty days.