EigenLayer's Controversial Airdrop: The Rise and Fall of Crypto Points Systems

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The crypto world is abuzz about an upcoming airdrop that's not getting the kind of fanfare the project creators might have hoped for.

EigenLayer, an Ethereum-based restaking platform, has seen an influx of $16 billion in crypto deposits within its first year, even before its official launch.

Despite launching its security service in April, the platform still lacks many key features, leading to growing criticism.

The main controversy is about how EigenLayer plans to distribute its EIGEN tokens. Initially, the platform used a points system to reward early depositors.

Points weren't actual tokens but were expected to eventually convert into them. This model helped the project attract users, but it has led to a backlash now that the airdrop details have been revealed.

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Eigenlayer, an Ethereum restaking protocol, has initiated its token-claim process for Season 1, Phase 1 rewards, allowing users to receive the new EIGEN token. Despite the long wait, EIGEN is currently nontransferable, meaning users cannot sell it.

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