Tron (TRX) founder and CEO Justin Sun has emerged as a major beneficiary of the EigenLayer token airdrop. He bagged over $2 million EIGEN tokens from the Phase 1 airdrop conducted by EigenLayer. securing a whopping 2.08 million EIGEN tokens. Moreover, the community is also bracing for a Phase 2 airdrop.

Tron CEO Receives EigenLayer Airdrop Reward

The transaction, reported on Saturday, May 11, 2024 has sparked widespread interest toward the EigenLayer token launch, particularly given Sun’s influential status within the crypto space. Furthermore, the address linked to Sun, marked as “Justin Sun 4” (0x176…a132), notably ranked second in terms of deposit volume within EigenLayer.

Prior to this airdrop claim, the address had made substantial contributions to EigenLayer’s ecosystem. Sun reportedly deposited 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, according to current ETH price.

EigenLayer, renowned for its role as a leading restaking provider on Ethereum, has attracted significant attention within the blockchain space. Furthermore, it is backed by over $100 million from Andreessen Horowitz. In addition, the platform boasts a pooled security system that currently holds approximately $16 billion in user deposits.

EigenLayer’s eagerly awaited EIGEN token airdrop marks a significant 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, rumors circulating within the community suggest that EIGEN’s fully diluted market cap could potentially reach an impressive $15 billion.

Also Read: EigenLayer Launches Phase 1 Claims for EIGEN Airdrop 

About EIGEN Airdrop

The Eigen Foundation, by Eigen Labs, officially initiated the EIGEN token claims process on May 10, 2024. This inaugural phase, known as Season 1, offers approximately 113 million EIGEN tokens, representing 6.05% of the token’s initial supply. Moreover, interested participants can claim their tokens by visiting claims.eigenfoundation.org, with the claim window slated to remain open until September 7, 2024.

As part of its strategic token distribution plan, EigenLayer has implemented a phased approach to ensure widespread participation and sustained community engagement. Phase 1, Phase 2, scheduled for mid-June, is set to increase the available supply by up to 6.75%, with 15% of the total initial token supply earmarked for community distribution across all seasons.

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, participants involved in DeFi activities through platforms such as Kelp, Pendle, and Equilibrium stand to receive supplementary benefits.

Also Read: Spot Ethereum ETF Applicants To Meet US SEC, ETH Price To Rebound?

The post Tron Founder Justin Sun Bags 2M Tokens From EigenLayer Airdrop appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am