Independent entity focused on advancing the EigenLayer (EIGEN) ecosystem, the Eigen Foundation, launched the second phase of the first season of the EIGEN stakedrop, marking the conclusion of the first season, during which approximately 113 million EIGEN tokens were distributed.
In the new phase, allocations are dedicated for each liquid restaking token (LRT) protocol corresponding to their interactions with EigenLayer, following the same criteria used in the first phase. No penalties are applied in this process. Each LRT protocol has determined specific allocations tailored to their end users.
Decentralized finance (DeFi) users who engaged with KelpDAO, Pendle, Equilibrium, or other protocols prior to March 15th, along with participants from the EIGEN stakedrop first phase, are eligible to make claims. The claiming window is currently open and will continue until September 7th.
Additionally, new users taking part in the second phase will receive 100 EIGEN rewards if they staked before the snapshot on March 15th. However, individuals will not receive rewards twice for their participation in both phases.
1/ We’re excited to announce that Phase 2 claims are now open! (Season 2 is coming)
Phase 2 marks the completion of Season 1, nearly 113 million EIGEN are now distributed.
Get started: https://t.co/ZjZJPW9JR4 pic.twitter.com/uGT7GDJdyY
— Eigen Foundation (@eigenfoundation) June 19, 2024
Let’s Check Out What Are EigenLayer And EIGEN Tokens
EIGEN functions as an intersubjective fork token aimed at bolstering cryptoeconomic security across multiple protocols. Its purpose is to incentivize integrity, discourage malicious activities, and bolster Actively Validated Services (AVSs) for a range of applications.
Since its establishment in 2023, EigenLayer has enabled individuals to deposit and restake ETH through diverse liquid staking tokens, with the goal of using these funds to AVSs. Over time, EigenLayer has expanded to become the second-largest DeFi protocol, currently holding a total value locked (TVL) of $19.054 billion, according to DefiLlama.
The total EIGEN supply stands at 1.67 billion. The EigenLayer Foundation has allocated 45% of these tokens to the community, divided to 15% for stakedrops, 15% for initiatives, and 15% for ecosystem development. Furthermore, 29.5% of the tokens were distributed to investors, while early supporters are set to receive 25.5%.
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