Bittime - Kelp DAO announced the distribution of approximately 3.8 millionEIGEN tokensto over 29,000 Kelp users in the second phase of the first season of the EIGEN staking airdrop. This announcement was first made via the Kelp DAO social media platform, marking a significant step in Kelp's efforts to increase participation and engagement of its community.
What is Kelp DAO Token?
The Kelp DAO token is one of the tokens in the EIGEN project, a digital asset used in the Kelp DAO and EigenLayer ecosystem . EIGEN serves as an incentive for users who participate in restaking activities and supports the Ethereum blockchain infrastructure.
By staking EIGEN, users can earn additional rewards and contribute to the security and efficiency of the network. EIGEN is also designed to encourage community participation through an inclusive airdrop program and fair token distribution, ensuring that the ecosystem remains dynamic and growing.
Second Phase of First Season Airdrop
Source: https://x.com/KelpDAO/
This token distribution is part of the stakedrop program by EigenLayer, a restaking protocol that is increasingly gaining popularity in the DeFi community.
In this first season, a total of 6.05% of EIGEN's initial token supply is available for claim starting May 10, 2024, with a second phase starting mid-June increasing the claimable percentage to 6.75%.
Commitment to Community Participation
Source: https://x.com/KelpDAO/
EigenLayer has decided to dedicate 15% of its initial token supply to its community, demonstrating a strong commitment to inclusive participation and fair distribution.
This move not only increases community trust but also encourages active participation in the EigenLayer ecosystem. This airdrop program allows eligible Kelp users to claim their share of 3.8 million EIGEN, strengthening the relationship between the platform and its users.
Challenges and Potential in the Future
However, this journey is not without challenges. EigenLayer announced that EIGEN tokens are currently non-transferable, with plans to open up token transfers following the launch of new features and further decentralization milestones, expected to occur on September 30, 2024.
During this period, core contributors and investors will not receive EIGEN staking rewards, and there will be no token inflation.
EigenLayer Popularity and Achievements
Since its soft launch in 2023, EigenLayer has attracted $14 billion in assets, making it one of the major players in the DeFi space. This restaking protocol offers amplified returns through the process of depositing ETH coins to support the Ethereum blockchain.
Additionally, EigenLayer announced compatibility with various Application Specific Verification Systems (AVS), providing more options for stakers.
Also Read: Here's an Explanation of How Eigen AVS Changes the Way We Think About Crypto Security!
In a broader context, EigenLayer's popularity is reflected in its position as the second most popular DeFi application, surpassing liquid staking platforms such as Lido and Rocket Pool.
While liquid staking provides easier access to staking rewards and leads the DeFi category, the protocol has seen a significant decline in total value locked, with data from DefiLlama showing a 27% decline since its peak of $63 billion in March 2024.
Conclusion
With strategic moves and continuous innovation, Kelp DAO and EigenLayer strengthen their position in the competitive DeFi ecosystem. This significant distribution of EIGEN tokens not only increases community engagement but also expands the reach and impact of the protocol. While regulatory challenges remain, the commitment to compliance and decentralization shows great potential for future growth.
For further information regarding EIGEN's claims, Kelp users can visit the official website here and follow the latest developments via the Kelp DAO social media accounts
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
What is PixelVerse Airdrop: PixelTap Game Competes with Hamster Kombat
What is Hamster Kombat? How to Play Hamster Kombat Game?
When will the PixelVerse Airdrop Finish and Listing Time?
DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.