The post Eigen Foundation Delays Launch of Programmatic Incentives v1 Rewards to October 15 appeared on BitcoinEthereumNews.com.

Eigen Foundation Delays Launch of Programmatic Incentives v1 Rewards to October 15 The Eigen Foundation has announced a delay in the initial claim date for its Programmatic Incentives v1 rewards, moving it from early October to October 15, due to a discrepancy in the rewards distribution, as reported by Blockchain News. This program, which is designed to distribute EIGEN tokens to eligible stakers and their delegated operators on a weekly basis, will now commence next week. The delay has prompted interest among EIGEN token holders and participants eager to take part in the reward distribution. About the Programmatic Incentives v1 The Programmatic Incentives v1 aims to incentivize participation and bolster the Eigen ecosystem by issuing newly minted EIGEN tokens. Under the program, approximately 66,945,866 EIGEN tokens will be distributed over the first year, which represents 4% of the token’s initial supply of 1,673,646,668 tokens. These incentives are intended to encourage staking and delegation activities, promoting network security and user engagement in the Eigen ecosystem. Eligible stakers and delegated operators are expected to benefit from these rewards, which are allocated on a weekly basis, providing a consistent opportunity for participants to earn EIGEN tokens. This structure is aimed at enhancing network participation and fostering a more robust staking community. Reason for the Delay According to the Eigen Foundation, the delay was caused by a discrepancy in the rewards distribution, which required additional time to rectify. The foundation did not elaborate on the nature of the discrepancy, but assured participants that the issue was being addressed to ensure a fair and accurate distribution of rewards once the program goes live on October 15. Such delays, while not uncommon in the blockchain space, underscore the importance of accurate distribution mechanisms in incentive programs, particularly when they involve newly-minted tokens and decentralized networks. The…

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Filed under: News - @ October 4, 2024 8:15 am