EigenLayer Increases Minimum Airdrop Allocation

Ethereum restaking protocol EigenLayer has updated its EIGEN airdrop allocations in response to severe community backlash.

All eligible users will receive an additional 100 EIGEN tokens, provided that they interacted with EigenLayer before April 29.

“We heard from many users worldwide who had to pay high gas costs to participate in the protocol. We want to ensure that users, small and large, have equal access,” the Eigen Foundation said in a blog post.

The project has also outlined its timeline for unlocking EIGEN tokens, connecting this milestone to its goal of achieving mainnet launch by Sept. 30, at which point the community will be able to vote on enabling transferability.

Additionally, the Foundation clarified that the 12-month lockup period for the team and investors will start only after the EIGEN token becomes transferable.

EigenLayer is DeFi’s third-largest protocol, with $15 billion in total value locked (TVL), according to DeFiLlama. It enables users to re-stake their Ether or liquid staking tokens (LSTs) to earn additional yield by securing third-party applications called Actively Validated Services (AVS).

The update also addressed an oversight where certain testnet users were not allocated tokens. This will be corrected in Phase 2 of Season 1, with more information to be shared in the near future.