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Justin Sun Receives 2M Tokens in EigenLayer Airdrop

Justin Sun Receives 2M Tokens in EigenLayer Airdrop

Justin Sun, the CEO and founder of Tron (TRX), has been one of the main winners of the EigenLayer token airdrop. He received more than $2 million in EIGEN tokens from EigenLayer’s Phase 1 airdrop. getting hold of an incredible 2.08 million EIGEN tokens. In addition, the neighborhood is ready for a Phase 2 airdrop.

Tron CEO Receives EigenLayer Airdrop Reward

The transaction, disclosed on Saturday, May 11, 2024 has prompted tremendous curiosity in the EigenLayer token launch, particularly given Sun’s influential status within the crypto space. Moreover, the address associated with Sun—designated as “Justin Sun 4” (0x176…a132)—notably placed second in EigenLayer with respect to deposit volume.

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Prior to this airdrop claim, the address had made major contributions to EigenLayer’s ecosystem. Sun reportedly transferred 104,000 ETH directly and an additional 58,000 ETH through Puffer before March, according to Wu Blockchain. The deposit is worth over $469 million, based to current ETH price.

EigenLayer has garnered a lot of interest in the blockchain community due to its reputation as one of the top providers of restaking services on Ethereum. Moreover, Andreessen Horowitz has committed over $100 million to support it. In addition, the platform boasts a pooled security system that currently holds approximately $16 billion in user deposits.

EigenLayer’s long expected EIGEN token airdrop marks a key milestone for the project. However, despite the excitement surrounding the distribution, the new tokens remain non-negotiable for an unspecified period. This delays their tradability. Meanwhile, speculations circulating throughout the community say that EIGEN’s completely diluted market cap may potentially reach an astonishing $15 billion.

Concerning the EIGEN Airdrop

The Eigen Foundation, by Eigen Labs, formally launched the EIGEN token claims process on May 10, 2024. Approximately 113 million EIGEN tokens are available during this first phase, referred to as Season 1, which makes up 6.05% of the token’s initial supply. Additionally, interested parties can visit claims.eigenfoundation.org to retrieve their tokens; the claim window will run until September 7, 2024.

EigenLayer has adopted a phased approach as part of its strategic token distribution plan to guarantee broad participation and ongoing community engagement. Phase 1, Phase 2 (planned for mid-June): 15% of the entire initial token supply will be distributed to the community for use in all seasons, increasing the supply by up to 6.75%.

Hence, eligible users can claim EIGEN tokens by engaging in various staking activities on EigenLayer, with additional bonuses extended to those who staked ETH or liquid staking tokens (LSTs) prior to March 15, 2024. Furthermore, those engaging in DeFi activities through platforms such as Kelp, Pendle, and Equilibrium stand to get supplementary benefits.

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