Eigen Foundation revealed the initiation and dispensation of their original EIGEN token. The tokens supply will be 1.67 billion in total with an airdrop set for the community of EigenLayer supporters.

This development is accompanied by the disclosure of the EigenLayer whitepaper by the Eigen Foundation and Eigen Labs team. The project has recently gained substantial growth and investment interest from Binance Labs and a16z, inducing an increase in Ether (ETH) staking.

As per the announcement, Eigen Foundation plans to launch the EIGEN token in May and conduct an airdrop for the stakers community on EigenLayer simultaneously. In addition, the token supply includes an allocation of 45% of EIGEN tokens for the community.

The distribution details specify that 15% of the supply will be designated for stakedrops and community projects respectively, with an extra 15% allotted for EigenLayer ecosystem development.

The EIGEN airdrop Season 1, offering the community a chance to acquire 5% of the token supply, is directed towards stakedrop participants recorded in a snapshot from March 15, 2024. The claim period for this airdrop will start on May 10, where 90% of the tokens will be claimable for up to 120 days. The following 10% batch will be available 30 days after the first phase concludes.

Notably, investors and early contributors are granted 29.5% and 25.5% of the token supply respectively. Both investor and early contributor allocations will undergo a 3-year crypto vesting period, with the total lockup in the first year, and a 4% monthly unlock rate for the subsequent two years.