EigenLayer, the second largest restaking protocol with $15.67 billion in total locked value (TVL), unveiled the specifics of its “stakedrop” in a blog post dated April 29. Although the protocol never officially confirmed an airdrop until Monday, speculators seemed more than happy to add their already staked Ether (ETH) to EigenLayer, adding more than $15.7 billion to the protocol since its launch, in the hope of receiving an airdrop at a later date.
A relative 5% allocation for Season 1 users
The Eigen Foundation has declared that it will allocate 15% of EIGEN’s total supply of 1.67 billion tokens to the community. However, only 5% of the initial allocation would go to users who participated in Season 1. The remainder of the allocation would be distributed to users in subsequent seasons. Some users protested that this allocation was relatively small and claimed that the documents detailing airdrop allocations were “confusing”.
Non-transferable tokens and linear distribution
However, stakedrop critics directed most of their ire at the fact that, although users could claim their EIGEN tokens from March 10, they would not be able to transfer or sell them before an undeclared date. An anonymous X user described these factors as “bums” that had overridden the expected hopes of the EIGEN airdrop.
Critics look for reasons to be disappointed
Despite the outrage surrounding the stakedrop, Henrik Andersson, chief investment officer of Australian crypto investment firm Apollo Capital, said that many of EigenLayer’s critics were simply “looking for reasons to be disappointed”. Andersson argued that users should focus on the benefits of EigenLayer rather than the negative aspects.
