EigenLayer responds to community response with 28M more OWN tokens

EigenLayer has announced an expansion of the EIGEN token airdrop with 28 million tokens to more than 280,000 wallets. This decision follows criticism of the initial distribution.

Addressing user dissatisfaction

Following the airdrop announcement on April 29, EigenLayer faced dissatisfaction, particularly with its non-transferable token structure and limited community allocation.

The restrictive measures, including aggressive geo-blocking and anti-VPN policies, prevented users from 30 countries from participating. In response, EigenLayer adjusted its strategies to ensure better token distribution for its community.

The 28 million additional tokens are intended to rectify the initial shortcomings and demonstrate EigenLayer’s commitment to the user base. Despite the fact that the tokens are non-transferable until a later date, the foundation has established a vesting scheme that prioritizes community members over private investors and team members.

Critics have also pointed out issues with EigenLayer’s tokenomic structure, where only 45% of the total supply is allocated to the community. This distribution strategy, in addition to the minimal rewards compared to staking Ethereum, has led to dissatisfaction among early supporters.

Touch of optimism

Despite the criticism, OWN perpetual futures are trading around $9.50. This would value the current airdrop’s 28 million tokens at $266 million. This valuation is subject to volatile changes as we approach the official distribution date of May 10th.

EigenLayer’s approach to expanding airdrops and adjusting policies highlights their attempt to find a compromise with a disgruntled community. This kind of mediation is necessary because communities mean everything in the crypto world.