EigenLayer Opens Phase 2 Claims for EIGEN Airdrop

The Eigen Foundation has started the second phase of the EIGEN stake drop, which is a significant step in its token distribution roadmap.

This launch is not only the finale of Season 1 but also the further developments in the protocol’s progression.

EigenLayer  Phase 2 Claims Now Open

As part of EigenLayer’s ongoing development, the foundation has officially opened claims for the second phase of the EIGEN stake drop. This phase contributes to the total distribution for Season 1, to around 113 million EIGEN tokens, which is 6.7% of the allocated supply for stake drops.

The high participation rate during Phase 1, where more than 88% of EIGEN tokens were staked, shows the dedication to EigenLayer’s mission. In connection with the opening of Phase 2, the Eigen Foundation has set aside 10 million $EIGEN for the promotion of this phase. For instance, the first set of users likely to claim within the first twenty-four hours from the time the app is launched are entitled to a 2.5x increase in their token allocation.

1/ We’re excited to announce that Phase 2 claims are now open! (Season 2 is coming)

Phase 2 marks the completion of Season 1, nearly 113 million EIGEN are now distributed.

Get started: https://t.co/ZjZJPW9JR4 pic.twitter.com/uGT7GDJdyY

— Eigen Foundation (@eigenfoundation) June 19, 2024

The EIGEN token plays a crucial role in the functioning of Actively Validated Services (AVS), with potential use cases spanning from data accessibility to artificial intelligence, and decentralized storage. Through EIGEN staking, these services are accelerated in their development and ensured in their reliability.

The unique“intersubjective forking” model of EIGEN helps in increasing the security of these services as it offers a way for the honest parties to reach a consensus and deal with the issues.

Outlook and Staking Innovations

Similarly, the Eigen Foundation is still working on the EIGEN token, which is vital in securing AVS. With the claim window open until September 7, 2024, and the implementation of new features such as intersubjective forking, the foundation prepares for more robust and diversified digital systems.

Further information about the future distributions may be expected as Season 2 is approaching, thus, the members of the EigenLayer community will remain active and increase.

In May, EigenLayer officially started the highly-anticipated EIGEN token airdrop which is a major milestone for the project. However, the new tokens are not transferable for some time, raising questions over the actual trading value during the speculation period.

Although EIGEN has the possibility of being valued at around $9 per token on the perpetual futures market, the exact spot price will only be realized once the tokens are tradeable.

Read Also: EigenLayer Launches Phase 1 Claims for EIGEN Airdrop