According to Ether.Fi, they have announced their upcoming airdrop plan. The token to be released will be named ETHFI with a total supply of 1 billion tokens, of which the initial circulating supply is 115.2 million tokens.
The first phase of the airdrop, called Part 1, will distribute 6% of the total token supply and will cover activities until March 15th. Part 2 will distribute the remaining 5% of tokens and will cover activities from March 15th to an unspecified date in the future. The remaining tokens will be allocated to investors, partners, core contributors, and the protocol treasury, according to the project’s token distribution.
Ether.fi has laid out various criteria to determine eligibility for the airdrop, including holding eETH, referring friends to participate in the protocol, or joining the protocol’s Early Adopters program. According to Ether.fi’s announcement, “Whale wallets” will have to wait 3 months to receive their tokens, while smaller wallets will be able to receive them immediately.
After the announcement, community members noticed that Justin Sun, the controversial founder of TRON, is set to receive nearly 3.5 million tokens out of the initial allocation of 60 million tokens following a 20,000 ETH deposit into the project’s protocol, according to blockchain data.
This has sparked controversy within the community, with Ether.Fi founder Mike Silagadze announcing on Discord that more tokens will be airdropped to community members, along with detailed information. Silagadze also defended Sun’s allocation: “Just because someone comes in with a massive deposit doesn’t mean we’re going to change the rules for them and wreck everything. We value Justin’s support and will respect the rules of the campaign that we’ve set forth.”
