Eigen Foundation’s strategic response to airdrop backlash: Fostering community engagement
Crypto News: The Eigen Foundation responds to airdrop backlash, their decision to airdrop over 280,000 wallet holders with approximately US$1,000 worth of EIGEN tokens marks a significant shift from its original airdrop strategy. The decision was made following community backlash and concerns about the initial airdrop plan, including favoring certain users and restrictive measures on the ability of users to cash out the allocations.
Specifically, End-users who claimed in Season 1 are set to receive a minimum of 110 EIGEN tokens, while those who participated in Season 2 to get a minimum of 100 EIGEN tokens or more. The decision aligns with the Foundation’s revised approach towards more distribution and inclusivity within community members. By airdropping additional tokens for multiple wallet addresses, the Eigen Foundation is striving to enhance user access and participation to an extent to which users can easily cash out their allocation.
The Foundation’s proactive approach to addressing community concerns is further demonstrated by its commitment to rectifying issues for eligible individuals excluded from the initial airdrop. Primarily, the Eigen Foundation is set to pay for missed out allocations for testnet users in Phase 2 Season 1, marking a triumph for fairness on the distribution process. Additionally, the Foundation’s commitment to enlighten users that investor tokens will start vesting after token transferability commences, expected post-September 30, 2024, highlights the foundation’s commitment to fairness and transparency in the token accessibility and transferability process.
The distribution of EIGEN tokens is not just an incentive for early adopters but also demonstrates the Foundation’s commitment to creating a more decentralized and community-oriented ecosystem. Second, by attaching more tokens to the wallet addresses of EigenLayer depositors than the number of corresponding voting rights they have earned, the Eigen Foundation would help create a more cohesive EigenLayer community and a sense of ownership within the protocol.
The decision of the Eigen Foundation to airdrop EIGEN tokens to a vast number of wallet holders reveals the organization’s strategy to interact with and incentivize its community. Apart from resolving the negative issues of the success of the first airdropping, the institution declares a transition from the old air-dropping principle to a new approach focused on a community.
With this distribution, the Foundation wants to promote social consensus, resilience, and participation and, as a consequence, increase the sense of community ownership of and community interaction with the EigenLayer protocol among its users. In response to the feedback and criticism, the Foundation is: ratifying its goal of establishing a more transparent, democratic, and community-oriented space; updating the allocation model; and clearing up the time within which the provided tokens will vest.
Finally, it is worth concluding that the Eigen Foundation responds to airdrop backlash, airdropping nearly US$1,000 EIGEN tokens to 280,000+ wallet holders is a growing and meaningful step of improving community engagement, inclusivity, and fairness within the ecosystem. Eigen Foundation responds to airdrop backlash not only resolves the issues connected with airdrop-related arguments and criticisms but also demonstrates an evolving precedent to the inclusive redistribution of tokens, helping create a sense of community involvement and commitment to the EigenLayer protocol.
