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Eigenlayer Ensures 110 Tokens for 280,000+ Wallets, Hits $16B TVL Amid Controversy

May 2, 2024, 10:08 PM

Eigenlayer's recent announcement of the EIGEN token 'stakedrop' led to a peak total value locked (TVL) of over $16 billion. However, the rollout has sparked controversy and confusion among users. Despite the high valuation of $18 billion, there was significant backlash over the initial communication and understanding of the token's value and purpose. In response, Eigenlayer adjusted their strategy, offering an additional 100 EIGEN tokens to those who deposited before April 29, ensuring a minimum allocation of 110 tokens per wallet for over 280,000 wallets. This adjustment will take effect after the tokens become tradable on September 30, 2024. Additionally, $903 million was given to wallets in Season 1, with $1.8 billion set aside for Seasons 2 and 3.