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The most anticipated airdrop of all time is (almost) here: claims for EIGEN open on May 10!
EigenLayer’s inaugural “Stakedrop” will award 5% of EIGEN’s total supply to all restakers – regardless of size – who deposited before the Snapshot date March 15 with a minimum of 10 EIGEN.
While the majority of these tokens will be available to claim next Friday, 10% of the distribution is being held back and reserved for users who have had “complex interactions” with EigenLayer via Liquid Trade-In Tokens (LRT). It will be distributed approximately one month after the Protocol solicits additional feedback on potential distribution from ecosystem participants.
Eligible recipients (i.e. anyone who staked directly via EigenLayer or participated via Liquid Resume Tokens) can check their allocations for the first phase, the first season, before claiming in two weeks via EigenLayer. official complaints portal.
Unfortunately, EigenLayer prevents residents from complete list countries (including the United States and Canada) to claim this airdrop and restricts access to VPNs and other IP proxy technologies, meaning you will need to plan a trip abroad if you are a citizen of the 'one of those countries looking to claim your airdrop allowance.
The remaining 10% of EIGEN's total supply that is not distributed in the first season will be distributed to users in subsequent allocations, which will take into account not only actions taken in the future, but also the Complete history of user interactions with EigenLayer.
Restakers who joined earlier, participated longer, and maintained their participation gained increased allocations, as did native restakers who help support network resilience and decentralization; future distributions will likely incorporate a similar weighting system.
While a minor distribution of EIGEN has been reserved for Goerli testnet participants inconvenienced by the halted deployment of EigenLayer on-chain, the protocol indicates that Holesky testnet participants will not receive airdrops in future allocations.
At launch, the EIGEN token will come with intrinsic utility, allowing recipients to stake their tokens to secure the EigenDA network. Additionally, there is potential for further integration of EIGEN staking if other actively validated services (AVS) choose to include EIGEN – and other tokens – as eligible staking collateral to secure their network.
The core of the EIGEN token will be a governance mechanism facilitating “intersubjective forking” that allows token holders to challenge incorrect reduction behavior that cannot be objectively identified on-chain, but for which reasonable observers would agree that a penalty is justified.
This process allows the EigenLayer application to split at the token level, allowing the transfer of control of assets contained within the protocol's smart contracts without the need to involve Ethereum's social consensus.
To create a fork in response to an inappropriate slashing event, a “significant fraction” of EIGEN tokens must be pledged by a challenger as collateral; The EigenLayer social consensus will then vote on whether the fork is legitimate.
In the event that the proposed fork is validated, the challenger recovers its deposit and earns a challenger reward, while the tokens belonging to the voters who voted against the fork will be penalized. Alternatively, if the consensus votes against the fork, the challenger's tokens will be burned.
While EIGEN will be available to claim next Friday and will come with some form of utility at launch to the staking, the token will be locked for an initial “non-transferable period” until the token fork is activated, meaning recipients will not be able to sell their tokens for an indefinite period of time.
Additionally, the Eigen Foundation asserts that creating or trading EIGEN derivatives would be detrimental to the community and warns that participation in such activities will impact eligibility for future EIGEN airdrop seasons.
At launch, EIGEN will have a reserve of 1,673,646,668.28466 tokens, a number obtained by coding the phrase “Open Innovation” on a traditional telephone keypad.
In addition to the 15% of the total supply reserved for stakes, an additional 30% of the initial token offering is reserved to fund the development of EigenLayer and distributed as part of the community allocation, split 50/50 between the Eigen Foundation and direct community control.
EigenLayer private investors are expected to receive 29.5% of EIGEN's offering and the core team will take home the remaining 25.5%, both subject to a 1-year lock-up followed by a 4-year linear release. % of their total allocation each month. over the next two years.
To support ongoing deposits, EigenLayer anticipates the need to adopt inflationary tokenomics in the future; control of these emissions will be given to the community, allowing them to decide how best to distribute them among EigenLayer's various stakeholder groups.