As reported by Cointelegraph, Eigenlayer, an Ethereum restaking protocol, has initiated the token-claiming process, also known as an "airdrop," for Season 1, Phase 1 rewards. Users who are eligible to receive the new EIGEN token can now go through the claims process to obtain it. However, at present, EIGEN is not transferable, meaning users are unable to trade or sell it.
The blog post mentioned that EIGEN will only become transferable once the development team has implemented certain new features, with a tentative target date set for Sept. 30. Claiming of tokens will cease on Sept. 7, and those who fail to claim by then will lose the opportunity to acquire their tokens.
Eigenlayer's documents reveal that EIGEN is not accessible to individuals in more than 30 jurisdictions, including countries like the United States, Russia, China, and Canada. Furthermore, the use of most VPN server addresses for claiming EIGEN tokens is prohibited.
6.05% of the total EIGEN supply has been unlocked through the current claims process, and an additional 0.7% will be available starting from "Phase 2" in mid-June. Users of certain applications like Kelp, Pendle, Equilibrium, and others will be eligible to claim their tokens from mid-June onwards. Currently, the airdrop is primarily aimed at users who restaked Ether or its liquid staking derivatives on Eigenlayer before March 15.
Users who deal with liquid restaking tokens (LRTs) can claim their rewards now, except those activities designated as part of "Phase 2." Moreover, users who restaked on Eigenlayer between March 15th and April 29th can claim their 100 bonus tokens immediately, with the majority of their tokens to be accessible in mid-June together with other Phase 2 participants.
