Eigen Foundation to distribute extra $1,000 in EIGEN to token holders, following airdrop backlash

The Eigen Foundation will airdrop roughly $1,000 in EIGEN each to more than 280,000 wallet holders, shortly after its community took aim at its controversial airdrop. 

Season 1 claimants will receive at least 110 EIGEN, while Season 2 will get 100 EIGEN or more, the Eigen Foundation said Thursday in a post on X. The developers are distributing more tokens after facing public backlash over the EIGEN airdrop plan, including criticisms of a stipulation that bars claimants from cashing out their allocations for a fixed period of time.

The Eigen Foundation did not immediately reply to The Block's request for comment.

In a blog post , published on Thursday, EigenLayer also clarified that investor tokens will start vesting after token transferability starts. The token will become unlockable sometime after Sept. 30, 2024, when new features roll out on Eigenlayer's mainnet, according to the post.

The developers behind Eigenlayer also addressed other criticism from crypto traders, vowing to make things up to eligible individuals who were excluded from its airdrop.  

According to the Eigen Foundation, missed testnet user allocations will be updated as part of Phase 2 of Season 1, with more details coming in the next few weeks.