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Tron Founder Justin Sun Raises 2 Million Tokens From EigenLayer Airdrop, Boosting Cryptocurrency’s Height
Justin Sun, founder and CEO of Tron (TRX), will benefit significantly from the EigenLayer token airdrop. He received over $2 million in EIGEN tokens as part of EigenLayer’s Phase 1 airdrop. acquiring a staggering 2.08 million EIGEN tokens. Additionally, the community is preparing for a Phase 2 airdrop.
The Justin Sun Effect: EigenLayer Token Launch Gains Momentum After Mega Transaction
The transaction on Saturday, May 11, 2024 has sparked huge interest in the launch of the EigenLayer token, especially considering Sun’s influential role in the crypto community. Sun’s address, “Justin Sun 4” (0x176…a132), has the second highest deposit volume on EigenLayer, Coinape reported.
Prior to this airdrop statement, the address made a significant contribution to the EigenLayer ecosystem. According to Wu Blockchain, Sun deposited 104,000 ETH directly and another 58,000 ETH via Puffer before March. At the current price of Ethereum, the deposit is worth more than $469 million.
EigenLayer, known as a major reworking provider on Ethereum, has received a lot of attention in the blockchain community. Furthermore, it is backed by Andreessen Horowitz, who has invested over $100 million. Additionally, the platform has a shared security system that currently holds approximately $16 billion in user deposits.
The highly anticipated airdrop of EigenLayer’s EIGEN token represents a major milestone for the project. However, despite the euphoria of the distribution, the new tokens will remain non-tradable for an unspecified period, which delays their marketability. Meanwhile, reports in the community predict that EIGEN’s fully diluted market capitalization could reach a whopping $15 billion.
Eigen Foundation launches EIGEN token application process: Season 1 is now open
The Eigen Foundation, through Eigen Labs, formally launched the application process for EIGEN tokens on May 10, 2024. This first phase, known as Season 1, includes approximately 113 million EIGEN tokens, or 6.05% of the initial supply of the token. Additionally, interested participants can claim their tokens by going to claims.eigenfoundation.org. The application window will be available until September 7, 2024.
EigenLayer The strategic token distribution plan includes a multi-tiered method to ensure mass involvement and long-term community commitment. Phase 1, which begins in mid-June, is expected to increase available supply to 6.75%, with 15% of the total initial token supply reserved for community distribution throughout all seasons.
As a result, eligible users can earn money EIGEN tokens participating in various staking activities on EigenLayer, with additional bonuses available for those who staked ETH or Liquid Staking Tokens (LST) before March 15, 2024. Additionally, participants in DeFi activities via platforms such as Kelp, Pendle, and Equilibrium they will gain additional benefits.
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