Free money? Claims on EIGEN, the most anticipated airdrop of 2024, opened earlier today for the majority of eligible first round beneficiaries! What special features accompany this drop and what can you actually do with your EIGEN?
EigenLayer users eligible for the Phase One, Season One distribution were able to view their allocations in the complaints portal for almost two weeks, but were unable to take custody of their tokens until today at 10am PST.
1/ EIGEN Stakedrop claims are open! 🪂♾️∑
We are excited to announce that claims for EIGEN are now open for Phase 1 of Season 1!
The EIGEN token accelerates @eigenlayer & Ethereum towards a shared mission of open innovation. ♾️
To start: https://t.co/AS9lkY9vHp pic.twitter.com/JtihuGHF5Z
– Eigen Foundation (@eigenfoundation) May 10, 2024
Many users were understandably upset by EigenLayer's claimed restrictions that prohibited access to residents of specific countries and VPN users, but the methods for circumvent frontend restrictions made the rounds on Crypto Twitter, first highlighting the frivolity of the EigenLayer ban and calling for highlighting the unfortunate fact that US regulators will likely always attempt to establish jurisdiction against any token issuer performing an unauthorized airdrop.
The initial outcry that the minimum EigenLayer allocation was insufficient to offset the gas led the EigenLayer Foundation to distribute an additional 100 EIGEN to all addresses that had interacted with the app before the April 29 stakedrop. announcement.
Despite EIGEN's current trading price of $9 on pre-market perpetual platforms like Aevo leaving this minimum allocation at a generous $900, holders will not be able to cash out as the EIGEN token is not expected to be transferable until EigenLayer ships a full mainnet with live Actively Validated Services (AVS) and an operator reduction in September.
EIGEN Stakedrop Updates pic.twitter.com/1cwSForJnx
– Eigen Foundation (@eigenfoundation) May 2, 2024
In the meantime, there is literally Only one thing to do!
After claiming their EIGEN, recipients can bet their attribution and to delegate has EigenDAthe proprietary EigenLayer data availability solution that leverages reinvested network capital to deliver increased capital efficiency compared to competitors like Celestia.
Users who had previously reallocated ETH to an EigenDA operator will have their EIGEN automatically delegated to the same operator once staked, while users who have not already delegated to an EigenDA operator will need to take this action for themselves.
Although EigenDA is the only AVS allowing users to reuse EIGEN when the feature launches, it is anticipated that additional services will be enabled soon, allowing staking recipients to generate returns on their allocations by positioning themselves to additional drops from AVS, even if they are unable to do so. to directly monetize the drop at that time.
Watch out for EigenLayer stakers! Get ready for EIGEN: the claims window opens tomorrow.
Once you have claimed your EIGEN, you can stake it and delegate it to an EigenDA operator. At launch, EigenDA will be the only AVS to use an EIGEN quorum. We hope that other AVS will follow soon.
– EigenDA (@eigen_da) May 9, 2024