Ether.fi announces its governance token airdrop plan
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Ether.fi, the largest liquid staking protocol on Ethereum, has announced plans for its upcoming governance token airdrop.
The token is called ETHFI, with a total supply of 1 billion and an initial circulating supply of 115.2 million. The first phase of the airdrop, titled Season 1, will release 6% of the total token supply, covering interactions through March 15. Season 2 will release 5% of the remaining tokens, covering actions from March 15 to an unspecified date in the future. Remaining tokens will be distributed among investors, partners, core contributors, and the protocol treasury according to the protocol’s tokenomics distribution.
Ether.fi gives various eligibility criteria for air investing, including holding eETH, referring a friend to the protocol, or participating in the protocol’s early adopter program. “Whale wallets” will have to wait 3 months to claim their tokens, while smaller wallets will be able to claim them immediately, according to Ether.fi’s announcement.
Following the announcement, community members noted that TRON founder and controversial figure Justin Sun would receive from the initial 60 million token allocation after apparently depositing 20,000 Ethereum two days ago, according to blockchain data Nearly 3.5 million tokens.
Following widespread complaints from Ether.fi community members, Ether.Fi founder Mike Silagadze announced on Discord that more tokens will be airdropped to community members, with details to be announced at a later date. Silagadze also defended Sun's allocation, writing: "Just because someone comes in with a huge deposit doesn't mean we're going to change the rules for them and cheat them. We appreciate Justin's support and will comply We set the rules for the event.”
