EigenLayer Launches Phase 1 Claims for EIGEN Airdrop

EigenLayer launches EIGEN token airdrop with 113M tokens, non-transferable initially, valued at $15B fully diluted. Claims open until September 7, 2024.
By Kelvin Munene Murithi
Updated July 18, 2025
Ethereum Researcher Justin Drake Quits EigenLayer Advisory Role

Highlights

  • EIGEN token airdrop begins with 113M tokens claimable but remains non-transferable, sparking community debate.
  • EIGEN valued at $15B; non-transferable tokens create speculative pricing in perpetual futures markets.
  • Community feedback prompts EigenLayer to revise EIGEN airdrop, addressing geographic and service-based exclusions.

EigenLayer has started the much-anticipated EIGEN token airdrop, which is the major achievement for the project. Nevertheless, new tokens remain non-negotiable for an unspecified time, delaying their tradability. This is in the midst of rumors that EIGEN’s fully diluted market cap is in the range of $15 billion.

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EIGEN Token Claims Begin

The Eigen Foundation, created by Eigen Labs, declared the start of the EIGEN token claims on May 10th, 2024. This initial phase, part of Season 1, includes 6.05% of the token’s initial supply, translating to approximately 113 million EIGEN tokens.

As a result, users can claim their tokens by visiting claims.eigenfoundation.org, with the claim window remaining open until September 7, 2024.

EigenLayer, a popular restaking provider on Ethereum, has gained much attention in the blockchain world. It is backed by more than $100 million from Andreessen Horowitz. The platform’s pooled security system already holds about $16 billion in user deposits, making it popular in crypto.

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Market Valuation and Non-Transferability

However, despite the hype, EIGEN tokens are non-transferable for the moment, which creates a certain period of indecisiveness about their actual trading price. EIGEN has been valued at approximately $9 per token in the perpetual futures markets such as Aevo and Hyperliquid.

The pricing is speculative, and expections are the possible spot price to appear once the tokens are transferable.

Commenting on the speculation, Julian Koh, CEO of Aevo, pointed out that the futures markets are a reference price, similar to how prediction market odds are used to forecast actual events. The non-transferability decision has provoked discussions, some of which have been concerned that many in the community need to know when the trading will start.

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Community Response and Adjustments

The community criticized the early distribution strategy for EIGEN, especially because it excluded users from certain jurisdictions, such as the U.S., Canada, and China. These limitations were considered geographic since there were no initial restrictions on deposits or points awards in the geographical location.

Furthermore, third-party liquid restaking points were omitted from this first airdrop phase, which made users even more frustrated.

Following the received feedback, EigenLayer adjusted the distribution plan, adding extra tokens for different groups of users in the Season 1 airdrop. The project has assured deeper consideration of points by liquid restaking services in the airing of “Season 2,” expected to correct such initial misses.

Next Steps and Future Plans

EigenLayer is implementing a staged process for its token distribution. Season 1, Phase 2, planned for mid-June, will boost the available supply by up to 6. 75%. The project allocates 15% of the total initial token supply for community distribution in all seasons. The phased roll-out is meant to ensure all-round participation and continued engagement from the community.

An eligible user can claim EIGEN tokens by simply participating in different staking activities on EigenLayer. Participants who staked ETH or liquid staking tokens (LSTs) prior to March 15th, 2024, receive additional bonuses.

Users who participate in DeFi activities with the help of platforms such as Kelp, Pendle, and Equilibrium also receive additional benefits.

The airdrop has been stressed by the EigenLayer team as integral to the creation of a culture of collaboration and decentralization. Through the distribution of EIGEN tokens, the goal is to speed up innovation and create wider platform adoption.

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Kelvin Munene Murithi
Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.
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