Eigenlayer released a whitepaper on April 29 for its proposed token, EIGEN. The whitepaper says the token will be used to power interoperable applications such as prediction markets, file storage services, and gaming virtual machines. Several jurisdictions, including the United States and Canada, will be excluded from the upcoming airdrop.
Users who feel left out of the recently announced EigenLayer airdrop have taken to the protocol’s Discord to voice their displeasure at the announcement — highlighting the non-transferable nature of the tokens, the strict geographic restrictions, and the perceived shortness of the snapshot period.
In its announcement, the Eigen Foundation shared that 15% of EIGEN’s 1.67 billion total supply will be allocated to the community, however, only 5% of the initial allocation will be distributed to early adopters in Phase One. The remaining portion of the allocation will be distributed to users in subsequent “seasons.”
Some users have argued that this is a relatively small allocation, and have suggested that the documentation detailing the airdrop distribution is “confusing.”
However, the bulk of the community’s outrage stems from the fact that while users are able to claim their EIGEN tokens starting on May 10, they will not be able to transfer or sell them until an as-yet-undisclosed date.
Continue reading: Could EigenLayer face a major yield farming crisis?
