EigenLayer has just announced the latest updates regarding its airdrop after facing criticism and backlash from the community and its users.
In their recent publication, there is some information regarding when EIGEN tokens can be claimed, including details about additional airdrops for participants.
EigenLayer Increases Airdrop Allocation
The latest announcement was made through EigenLayer’s official Twitter account, where it was revealed that the airdrop allocation would be increased for participants who have been involved since the inception of this airdrop program.
The publication mentions two pieces of information for participants in airdrop season 1 and season 2.
Season 1 refers to participants who interacted with the EigenLayer platform before April 29, 2024, while Season 2 comprises those who participated from March 15, 2024, to April 29, 2024.
It’s stated that participants in airdrop season 1 will receive an additional allocation of 110 EIGEN tokens, whereas those in season 2 will receive an additional allocation of 100 EIGEN tokens.
Both allocation figures are minimum thresholds, as there is still a possibility for these participants to receive even more allocation.
This new allocation still falls within the planned 15% allocation by EigenLayer, but the change lies in the timing of the allocation.
This step is taken in response to complaints and backlash from community members, specifically participants in this airdrop program.
The main complaint voiced by the community is the initially small allocation, as although it was stated at the outset that the airdrop allocation is 15%, after the snapshot was completed, it was announced that 15% would be distributed across multiple seasons, not just one season.
As a result, for this latest airdrop, the community speculated that the allocation given was only 5% of the total token supply, which is relatively small and not commensurate with the efforts made by participants.
Community Criticism and Increased Outflow
Participants in this airdrop feel aggrieved due to the significant transaction fees they incurred to interact with the EigenLayer platform.
This is understandable, considering the Ethereum blockchain used, and especially in the early days of EigenLayer, there were not many updates to Ethereum, so the fees were still relatively higher compared to other blockchains, although not as high as before.
As a result, many complained that the fees incurred were disproportionate to the rewards provided, accusing the team behind EigenLayer of being thieves.
Furthermore, there are other complaints from the community, such as the token mechanism that prevents transfer to other wallets.
The team behind EigenLayer only provided information regarding when the airdrop could be claimed, but did not provide information regarding when EIGEN tokens could be transacted and transferred.
For now, EIGEN tokens cannot be traded on the market, but there are already futures contracts, with a price per contract ranging from $10 to $9 per EIGEN.
This means there is a possibility that the price of EIGEN upon launch will be similar, although there is still no definite information.
In this negative scenario, it is evident that funds flowing out of EigenLayer, or outflow, have seen a drastic increase, with around $1 billion lost from the EigenLayer platform due to fund withdrawals.
Source: DeFillama
Many assume that these fund withdrawals are a result of disappointment with EigenLayer, thus reducing interest in participating in future airdrops.
However, the amount of locked funds is still relatively large, as its highest value reaches $16 billion.
For now, EigenLayer is still striving to provide the best for the community, but unfortunately, sentiment surrounding it remains relatively negative, posing a risk of adverse sentiment for EIGEN.
