Project Dev Succumbs to Backlash: Forced to Distribute Funds – Implications for Crypto Coin (Symbol)

  • Ethereum’s restructuring protocol, EigenLayer, has announced a second airdrop of its EIGEN tokens to 28,000 eligible wallet addresses, following criticism of its initial airdrop.
  • The new airdrop will distribute between 100 and 110 EIGEN tokens to each address, covering users who interacted with the protocol before April 29th and also those who won rewards from the previous event.
  • Despite not yet being launched, EIGEN tokens are currently trading on the derivative market at $10, valuing the latest airdrop at approximately $280 million.

EigenLayer responds to criticism with a second airdrop of EIGEN tokens, distributing an estimated $280 million to eligible wallet addresses. The move comes as the yet-to-be-launched token trades at $10 on the derivative market.

EigenLayer Announces Second Airdrop Following Criticism

Ethereum’s restructuring protocol, EigenLayer, has announced a second airdrop of its EIGEN tokens to 28,000 eligible wallet addresses, following criticism of its initial airdrop. The new airdrop will distribute between 100 and 110 EIGEN tokens to each address, covering users who interacted with the protocol before April 29th and also those who won rewards from the previous event.

EIGEN Tokens Valued at $10 on Derivative Market

Despite not yet being launched, EIGEN tokens are currently trading on the derivative market at $10, according to Aevo data. This values the latest airdrop at approximately $280 million. The announcement of the second airdrop follows criticism of EigenLayer’s restaking protocol, which was announced on April 30th.

Criticism Focused on Non-Transferable Token Structure

Most of the criticism focused on EIGEN’s non-transferable token structure, the 15% community allocation, and measures against VPNs that prevented users from 30 countries, including the US, Canada, China, and Russia, from claiming their EIGEN tokens. In response to the criticism, EigenLayer stated that it would try to include more testnet users who may have been excluded from the airdrop.

Conclusion

EigenLayer’s second airdrop of EIGEN tokens demonstrates the company’s commitment to addressing community concerns and ensuring a fair distribution of tokens. With EIGEN tokens already trading at $10 on the derivative market, the airdrop represents a significant distribution of value to the community. However, it remains to be seen how the market will react once the tokens are officially launched.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.
spot_imgspot_imgspot_imgspot_img

Latest News

spot_imgspot_imgspot_imgspot_img

PRO Analysis

Dogwifhat Price Targets $4 Amid Strong Bullish Momentum

Dogwifhat is experiencing a notable upward momentum...

BOOK OF MEME Coin Soars 47% Amid Bullish Patterns: Potential To Hit $0.015

BOOK OF MEME price experiences a significant surge,...

PIXFI Faces Bearish Turn: Analysis and Key Levels for July 2024

#Pixelverse, a prominent crypto gaming platform, launched its...

Dogecoin Leads the Pack: 2024’s Top Dog-Themed Meme Coin Performance Analysis

In 2024, dog-themed meme coins such as...
Jocelyn Blake
Jocelyn Blakehttps://en.coinotag.com/
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.
spot_imgspot_imgspot_imgspot_img

Bitcoin Poised for Potential Price Surge as MVRV Indicator Attempts to Break Downtrend

Bitcoin could be on the brink of a significant price rebound, as per recent analysis by CryptoQuant. ...

Grayscale Launches Low-Fee Bitcoin Mini Trust with Coveted BTC Ticker

Grayscale is set to launch its Bitcoin Mini Trust, which will feature the coveted BTC ticker symbol, on July 31st. This...

Dogecoin (DOGE) Price Surge: Analysts Predict Massive Upcoming Rally

Dogecoin (DOGE) and Shiba Inu (SHIB) have experienced significant price increases recently. This rise is linked to...