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EigenLayer Stakedrop Season 2: the second phase of the crypto airdrop of EIGEN kicks off

EigenLayer, a famous restaking protocol of the Ethereum blockchain, has announced the second phase of the EIGEN crypto airdrop.

Soon the community of the network will have the opportunity to claim the EIGEN tokens, officially completing the so-called “Stakedrop 2”. The same EIGEN coin, defined in the whitepaper as “Universal Intersubjective Work Token” can then be transferred and sold starting from September 30. 

The lSTs protocols supported by EigenLayer are organizing to support the distribution of tokens through airdrop.

Let’s see everything in detail below

EigenLayer announces Season 2 of the crypto airdrop of the EIGEN token

EigenLayer (EIGEN), restaking protocol with a TVL of 11 billion dollars, has announced the “Stakedrop 2”, the second phase of its own crypto airdrop. In a recent blog post, the Foundation of the project has informed its community about the details of what will be the final distribution of the EIGEN resource.

In this incentive season, the airdrop is intended for 3 categories, including Stakers & Operators, Ecosystem Partners, and Active Community Members. The total rewards amount to 86 million EIGEN, equal to 5% of the total supply.

More in detail, 70 million EIGEN, or 4.2% of the supply, have been dedicated to the group of stakers and operators.

All those who have deposited assets on the platform or managed nodes from March 15 to August 15 are eligible. It is estimated that for every 1000 Eigen Points accumulated, 3.36 EIGEN corresponds. Users who have delegated EIGEN (received in the first phase of airdrop), offering their voting power to various AVS, will also receive a contribution.

The portal for the claim, at the site https://claims.eigenfoundation.org/, will be opened by September 17, 2024.

crypto airdrop eigen
Source: https://blog.eigenfoundation.org/season-2-stakedrop/

As for the members of the community, EigenLayer has allocated 6 million EIGEN tokens, equal to 0.35% of the supply.

The project recognizes the work done by open source contributors, early supporters, and collaborators who have supported the platform since its inception.

Users can verify the first social identity and request the airdrop at the link surfact.eigenfoundation.org.

Depending on the type of category, EigenLayer took a different snapshot with timing on April 1 or August 15. The following table summarizes all the details related to the members’ rewards, with the respective EIGEN shares allocated.

crypto airdrop eigen
Source: https://blog.eigenfoundation.org/season-2-stakedrop/

The LRTs projects will support EigenLayer’s Stakedrop 2

As anticipated, even the partners of the EigenLayer ecosystem will participate in the second phase of the EIGEN crypto airdrop. Among these, we find the various “Actively Validated Service” (AVS) such as EigenDA, Witness chain, eoracle, Hyperlane AVS, Lagrange ZK Prover Network, and many others.

Additionally, the LRT protocols, Rollups and RaaS providers that rely on EigenLayer will receive an economic contribution from the protocol. The entire category will receive a total of 10 million EIGEN, equivalent to 0.6% of the crypto supply. Here too, the claim will open by September 17, just like for other eligible entities for the airdrop.

Regarding specifically the users of the “Liquid Restaking Protocol”, such as Kelp, Pendle, and Swell, a clarification is needed. If the respective LRT tokens (such as rswETH from Swell) have been deposited on the liquid restaking protocol, the rewards will be distributed directly by the same. In this case, the different projects will announce in the future the methods by which they have decided to distribute their clients’ EIGEN tokens. 

If, on the other hand, the stake has passed through the EigenLayer interface (e.g. swETH from Swell), the restaking platform will pay the airdrop through the previously mentioned portal. The treatment of the reward amounts for the LRT protocols is 100% identical to all others that participate and support EigenLayer. 

There are therefore no protocols favored over the others. The distribution ratio per 1000 points accumulated does not change either, although with the LRT protocols it was possible to farm the airdrop with a substantial boost.

EIGEN crypto: la risorsa sarà trasferibile dal 30 settembre

Even though the claim for season 2 of the crypto airdrop of EigenLayer will open at the latest on September 17, the real key date for the release of EIGEN is expected on September 30. On that day, in fact, the resource, described by the protocol as “Universal Intersubjective Work Token”, will officially become transferable and tradable.

The eligible users for the old season 1, where a bonus of 100 EIGEN had also been announced, have been waiting for this date for months now.

The stakedrop 2 will be the last opportunity available to accumulate the resource, with 12% of the supply that will be unlocked simultaneously. The last 3%, since the supply dedicated to the airdrop amounts to a total of 15%, will be released in the future through various initiatives to the community.

In the meantime, traders have been able to anticipate the launch on the market by trading the resource on various premarket platforms. Considering a total supply of 1.67 billion EIGEN and a hypothetical price of 4 dollars, we are talking about a FDV at launch of 8.4 billion dollars.

The initial price of EIGEN will likely be much lower than expected after season 1 of the EigenLayer airdrop. In fact, according to data from Whales.Market, in May EIGEN was priced around 8 dollars, reflecting a negative performance of 50%.

In the last 4 months, the pre-market price of the cryptocurrency has been affected by negativity and uncertainty in the financial markets. Contributing to the decline was also the change in sentiment of the airdrop farmers, who exited the market after some disappointing distributions.

After the debut of projects like ZKsync, LayerZero, Starknet, and Blast, whose airdrops did not meet investors’ expectations, the enthusiasm is at its lowest.

That of EigenLayer could be yet another insignificant token launch, although its rewards will still be appreciated by users.

Alessandro Adami
Alessandro Adami
Graduated in "Information, Media and Advertising", for over 4 years interested in the cryptocurrency and blockchain space. Co-Founder of Tokenparty, community active in spreading crypto-enthusiasm. Co-founder of Legal Hackers Civitanova marche. Information technology consultant. Ethereum Fan Boy and supporter of Chainlink oracles, strongly believes that smart contracts will be central in the development of society.
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