Spot On Chain analysis shows top claimers of EIGEN tokens in EigenLayer’s Season 1 as community concerns over distribution fairness surge.
Recent analysis by Spot On Chain, detail insights into the distribution of EIGEN tokens for season one, highlighting significant activity within the EigenLayer ecosystem.
How many $EIGEN did you collect for season 1? Here are the top claimers:
1. @justinsuntron: 3,559,570 $EIGEN
2. 0x4b25e4: 2,426,294 $EIGEN
3. 0xca264a (@0xMantle treasury): 1,346,851 $EIGEN
4. 0xe2008b: 553,106 $EIGENIf the FDV of Eigenlayer project is about $15B (similar to… pic.twitter.com/rQ0kvNN5yP
— Spot On Chain (@spotonchain) April 30, 2024
Notably, the crypto community eagerly anticipates more developments from EigenLayer, and Spot On Chain’s report has shed light on who the top beneficiaries were in the initial distribution phase.
Top Beneficiaries of EIGEN Distribution
The analysis shows that a select group of addresses claimed a substantial amount of EIGEN tokens, used to stake in EigenLayer’s restaking protocol. The top claimant was identified as an address associated with a prominent figure in the crypto space, Justin Sun, Tron CEO, claiming over 3.5 million EIGEN. This address had restacked 104,001 ETH, 57,826 ETH, and 51,500 ETH, equivalent to approximately $684.7 million.
Following closely, the second largest claim was made by the address 0x4b25e4, which claimed around 2.4 million EIGEN. The third top claimer, associated with the address 0xca264a, claimed 1,346,851 EIGEN. Using the address 0xe2008b, the fourth top claimer claimed 553,106 EIGEN.
Season 1’s Distribution Strategy
EigenLayer allocated 5% of the initial $EIGEN supply to its stakers for the first season, which was split into two phases. A major portion, 90%, of these tokens were scheduled for distribution in Phase 1, with the remaining 10% set for release approximately a month later. This strategic distribution was aimed at maximizing early participation and securing the network.
Per their recent blog post, EigenLayer plans to allocate a total of 15% of the $EIGEN supply across future seasons. These future distributions will take into account the level of ecosystem participation both before and after the initial snapshot on March 15, 2024. The platform also outlined how $EIGEN tokens could be staked in conjunction with Ethereum to bolster the security and functionality of the EigenLayer and other associated value-securing services (AVSs).
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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