EigenLayer faces backlash over airdrop, expected to distribute approximately 28M additional EIGEN tokens

EigenLayer, the Ethereum restaking protocol, is distributing an additional 28 million EIGEN tokens to over 280,000 wallets in a new airdrop. This comes shortly after the initial airdrop announcement, which received criticism from some users due to certain restrictions. However, EigenLayer has now decided to include users who interacted with the protocol before April 29 in the new airdrop. In a follow-up blog post, the restaking protocol revealed that Season 1 claimants will receive a minimum of 110 EIGEN tokens, while Season 2 claimants will receive a minimum of 100 EIGEN tokens. The total value of the airdrop is estimated to be around $280 million, based on the current trading price of EIGEN perpetual futures contracts. However, this price may change before the official distribution event on May 10. Critics of the restaking protocol expressed their discontent with the first airdrop, particularly regarding the nontransferable token structure, the small community allocation, and the geo-blocking and anti-VPN measures that prevented users from certain countries from claiming EIGEN tokens. EigenLayer has acknowledged these concerns and plans to include more testnet users in future airdrops. The tokens will be available for claiming on May 10, but users will not be able to transfer or sell them until a later date. This control is intended to ensure the stability of key features before token transferability. Private investors and team members will be subject to a one-year lock-up period before their tokens become transferable to the community.