Tron Founder Justin Sun Bags 2M Tokens From EigenLayer Airdrop, Boosting Crypto Clout

Justin Sun, the founder and CEO of Tron (TRX), stands to 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. Furthermore, the community is preparing for a Phase 2 airdrop.

The Justin Sun Effect: EigenLayer Token Launch Gains Momentum After Mega Transaction

The Saturday, May 11, 2024, transaction has prompted enormous interest in the EigenLayer token launch, especially given Sun's influential role in the crypto community. Sun's address, "Justin Sun 4" (0x176…a132), has the second-highest deposit volume on EigenLayer, Coingape reported.

Before this airdrop claim, the address made significant contributions 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 Ethereum pricing, the deposit is worth more than $469 million.

EigenLayer, well-known as a prominent restaking provider on Ethereum, has received much attention in the blockchain community. Furthermore, it is backed by Andreessen Horowitz, which has invested over $100 million. In addition, the platform has a pooled security system that presently maintains around $16 billion in user deposits.

EigenLayer's much-anticipated EIGEN token airdrop is a big milestone for the project. However, despite the distribution's euphoria, the new tokens will stay non-negotiable for an unspecified period, which delays their tradeability. Meanwhile, reports in the community predict that EIGEN's completely diluted market capitalization could reach a whopping $15 billion.

Eigen Foundation Launches EIGEN Token Claim Process: Season 1 Now Open

The Eigen Foundation, through Eigen Labs, formally launched the EIGEN token claims procedure on May 10, 2024. This first phase, known as Season 1, includes about 113 million EIGEN tokens, or 6.05% of the token's initial supply. Furthermore, interested participants can claim their tokens by going to claims.eigenfoundation.org. The claim window will be available until September 7, 2024.

EigenLayer's strategic token distribution plan includes a tiered method to ensure mass involvement and long-term community engagement. Phase 1, which begins in mid-June, is expected to boost the available supply by up to 6.75%, with 15% of the total initial token supply set aside for community distribution throughout all seasons.

As a result, eligible users can earn EIGEN tokens by participating in various staking activities on EigenLayer, with additional bonuses available to those who staked ETH or liquid staking tokens (LSTs) before March 15, 2024. Furthermore, participants in DeFi activities via platforms like Kelp, Pendle, and Equilibrium stand to gain additional benefits.

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