TL;DR
- Distribution of 86 Million EIGEN Tokens: EigenLayer will distribute 86 million EIGEN tokens to stakers, node operators, ecosystem partners, and community members, starting on or before September 17, 2024.
- Verification and Claims Process: Participants must verify their social identities by linking wallet addresses to social handles through the Eigen Foundation’s portal by September 11, 2024, to claim their tokens.
- Impact on TVL and Future Prospects: The stakedrop aims to counteract the decline in EigenLayer’s TVL, which has dropped from $20.1 billion to $11.5 billion, and will be followed by a new staking incentive program.
EigenLayer, a prominent player in the cryptocurrency ecosystem, has announced its second stakedrop, aiming to distribute a substantial 86 million EIGEN tokens to its stakeholders. This initiative, set to commence on or before September 17, 2024, targets participants actively involved between March 15 and August 15, 2024.
Today the @eigenfoundation announced the EIGEN Season 2 Stakedrop
This is a celebration of our incredible community – stakers, operators, partners, and early supporters – who continue to build and innovate with us. Stay tuned for claims, programmatic incentives, and more! ↓ https://t.co/cXLxD7e5w4
— EigenLayer (@eigenlayer) September 4, 2024
The stakedrop is designed to reward a wide range of participants within the EigenLayer ecosystem, including stakers, node operators, ecosystem partners, and community members.
Of the 86 million tokens, 70 million are allocated for stakers and active operators, reflecting their pro-rata share of staked ETH during the noted period. Additionally, around 6 million EIGEN tokens are designated for community participants, fostering a sense of shared ownership among users.
EigenLayer Process: Verification and Claims
To claim their tokens, community participants must verify their social identities by linking wallet addresses to social handles through the Eigen Foundation’s verification portal by September 11, 2024. This step ensures the distribution process is transparent and fair, rewarding those who have actively contributed to the ecosystem.
It’s worth noting that 2024 has seen a surge in airdrops, with Notcoin (NOT), Blast (BLAST), zkSynch (ZK), and LayerZero (ZRO) all distributing tokens to their communities. The EIGEN token airdrop will now join this impressive lineup of significant airdrops.
Impact on Total Value Locked (TVL)
The announcement comes at a time when EigenLayer is navigating a challenging phase marked by a decline in total value locked (TVL). Having peaked at $20.1 billion in June, EigenLayer’s TVL has since fallen to $11.5 billion.
This trend is not unique to EigenLayer; many liquid restaking platforms have also reported substantial drops in their TVL. The stakedrop aims to reinvigorate the platform by encouraging continued participation and investment.
Future Prospects
Following the stakedrop event, the Eigen Foundation plans to launch a new staking incentive program to retain its stakers and boost participation. This initiative underscores EigenLayer’s commitment to engaging and rewarding its community, ensuring the platform’s growth and sustainability in the evolving cryptocurrency landscape.
