Eigen Foundation Season 2 Stakedrop Announced, How Will 86 Million EIGEN Tokens Be Distributed?

Original title: Announcing Season 2 Stakedrop

Original source: Eigen Foundation

Original translation: TechFlow

Eigen Foundation announces the EIGEN Season 2 Stakedrop event! With the EIGEN tokens about to be unlocked, this stakedrop aims to recognize and reward outstanding contributors and participants who have given us support.

During this season, EIGEN tokens will be distributed to the following three main categories:

· Stakers and Operators:Users who actively participated in staking in Season 2

· Ecosystem Partners:Including AVSs, LRTs, Rollups, RaaS providers and other key contributors

· Community Members:Early supporters, contributors, and projects that play a key role in supporting EigenLayer

Important Information for LRT Users:The LRT protocol rewards exactly the same amount to all participants who support Eigenlayer through staking and other means. LRTs will directly receive their corresponding stakedrop allocation, and each LRT protocol will decide for itself how to distribute the claimed EIGENs to its community. Please contact your LRT protocol for the latest claim information.

Allocation Details

Stakers & Operators

Total EIGEN allocated to stakers and operators in Season 2: ~70M EIGEN (~4.2% of FDV).

· Eligibility: Participants who actively participate in staking and node operation in Season 2.

· Start Claiming Date: On or before September 17, 2024.

· Details: Direct stakers can claim their tokens through our claims portal at claims.eigenfoundation.org. LRT users will claim their rewards through their respective LRT projects.

· Snapshot date: 2024-08-15 22:26:59 UTC

Stakedrop allocation is calculated based on the hourly proportion of stakers’ ETH and is completely linear. To prevent Sybil attacks, we do not set any floor, as mentioned in our previous blog post.

To facilitate your operation, a contributor has created a website to help you calculate retroactive re-staking rewards: s2calculator.eigenfoundation.org

Ecosystem Partners

Total amount of EIGEN allocated to ecosystem partners in the second quarter: up to 10 million EIGEN (about 0.6% of FDV).

· Applicable objects: including AVSs, LRTs, Rollups, RaaS and other participants who have made important contributions to the EigenLayer ecosystem.

· Start claiming date: on or before September 17, 2024.

· Details: Eligible partners can claim their tokens via the claims portal at claims.eigenfoundation.org.

To recognize the contributions of ecosystem partners, eligible participants will receive equal rewards in this category. Each partner is considered equally important and their efforts are critical to our mission. This stakedrop is our recognition of their collective impact and commitment to building a stronger ecosystem. To promote an open culture, ecosystem partners will be publicly disclosed.

Community

Total EIGEN allocated for the community in Season 2: ~6 million EIGEN (~0.35% of FDV).

· Who is it for: Open source contributors, early advocates, and supporters of EigenLayer since its inception.

· Start claiming on or before September 17, 2024.

· Details: Your contributions will determine your eligibility. Before claiming, please visit the social verification link verify.eigenfoundation.org to verify your social identity. Social verification ensures that only authentic participants can claim EIGEN, thereby guaranteeing a fair distribution of tokens to those who have actively supported.

· Snapshot Date: April 1 or August 15, 2024 (depending on the category).

· Community Activity: Please link your wallet address to your social account at verify.eigenfoundation.org before 11:59 PM PST on September 11, 2024 before claiming. As the site may be rate-limited by Twitter, please be patient if you are unable to verify immediately.

We are very excited to reward those who have made great contributions to supporting EigenLayer from the beginning. Whether you’ve participated in hackathons, written blogs, actively engaged on Twitter and Discord, or are an open source developer driving open innovation today, your efforts are critical to our growth.

In addition, we will allocate EIGEN tokens to the Protocol Guild to support their important work in Ethereum L1 and ecosystem development. More details will be announced soon.

These rewards reflect our commitment to building a strong, innovative, and growing EigenLayer community.

Note: The remaining ~3% of the 15% total token supply will be distributed to the community through subsequent projects.

How EIGEN supports EigenLayer’s mission

EigenLayer lays the foundation for an open and verifiable internet by enhancing Ethereum’s decentralized trust, capital efficiency, and cryptoeconomic security.

The EIGEN token plays a key role in this mission, executing trusted commitments off-chain on-chain and extending these commitments to all blockchain and crypto projects. With the support of diverse stakers, operators, and ecosystem partners, EIGEN promotes the rapid launch and development of open innovation.

Together with Ethereum and other core crypto protocols, EigenLayer firmly believes that through the joint efforts of the community, we can create a more prosperous future.

“I think Web3 and crypto in general are all about building self-enforcing coordination mechanisms that don’t rely on authorities, committees, or majority decisions to enforce themselves. Because they are self-enforcing, you can make credible commitments. We know it’s a long journey, but we have a clear goal: our vision is to build the coordination engine for humanity, and we’re excited to have you on this journey with us.” - @sreeramkannan

With EIGEN, you become an important part of this vision, supporting the consensus of honest observers to maintain the integrity of these services.

Why participate in EIGEN?

Staking EIGEN puts you at the forefront of protecting innovative services, with a mechanism for subjective forks to secure even the most complex on-chain activities.

As new incentives are introduced, the rewards provided by EIGEN will continue to increase, providing sustainable long-term benefits to active participants.

Holding EIGEN not only gives you a voice and stake in shaping the future of EigenLayer and the Active Validation Services (AVS) on it, but also increases your influence in the ecosystem as more protocols and applications are added.

By participating in EIGEN, you will be part of an active network of stakers, operators, and ecosystem partners, working together to drive open innovation and the future of decentralized services.

To learn more, check out the blog post on the design and benefits of EIGEN. For a deeper understanding, you can read the full EIGEN whitepaper.

Looking Ahead: Programmatic Incentives and Future Rewards

EigenLayer will launch a programmatic incentive program to activate the AVS rewards mechanism to bring sustainable long-term value to stakers and operators. The first version will issue EIGEN tokens weekly, and newly generated EIGEN tokens from the protocol will be distributed based on the ETH/LST/EIGEN staked by stakers to at least one AVS registered operator. Operators will receive a fixed 10% of the EIGEN issuance allocated to their delegated stakers. After the program is launched, rewards will accrue weekly and can be withdrawn at any time, and unclaimed rewards will continue to accrue. To ensure continuity, a one-time reward will be provided to users who staked between August 15th (the second quarter snapshot date) and the launch of the program.

An upcoming update will introduce AVS “reward boosting”, where EIGEN tokens generated by the protocol will be distributed proportionally to each AVS’s native rewards. Future versions will include more advanced control mechanisms to adapt to changes in the ecosystem.

A detailed blog post on the first version of this programmatic incentive program will be released soon.

Quick Recap

Claims for Season 2 will be open to all groups on or before September 17, 2024.

Note to community members: Please verify your social identity by visiting verify.eigenfoundation.org before 11:59 PM PST on September 11, 2024 to complete verification before claiming opens.

Stay tuned — future programmatic incentives will bring continued rewards and growth to stakers and operators in the EigenLayer ecosystem.

For more detailed information, please check out our comprehensive FAQ and follow us on Twitter @eigenfoundation for the latest updates.

Official Links:

EIGEN Overview Blog Post: blog.eigenlayer.xyz/eigen

EIGEN Whitepaper: eigen.eigenlayer.xyz

FAQ: https://docs.eigenfoundation.org

Blog: blog.eigenfoundation.org

X: @eigenfoundation

Website: eigenfoundation.org

Legal Notice

This content does not constitute an offer or solicitation to sell or buy any EIGEN, nor is it any offer, advertisement, solicitation, confirmation, statement or financial promotion and cannot be considered as an invitation or inducement to participate in any investment activity or similar activity. Please do not use this content as any form of advice, including legal, investment, financial, tax or other professional advice. This content cannot replace the advice of professionals.

The assumptions, forward-looking and/or predictive data contained in this document are not guaranteed and are subject to change; actual data may vary. Eigen Foundation and its subsidiaries make no warranties, express or implied, as to the completeness, reliability, validity or accuracy of the information. This content may contain errors and is not guaranteed to be error-free. You agree and acknowledge that the information herein is subject to change without notice. No advice or information, whether oral or written, obtained from Eigen Foundation shall be deemed to constitute any warranty or representation not expressly made herein.

For more information, please consult the Eigen Foundation's Terms of Service, Privacy Policy, and Airdrop Terms of Service.

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