EigenLayer token does not have the function of circulation, sparking dissatisfaction in the community.

This year, the highly anticipated EigenLayer finally announced the token issuance and airdrop activities. However, the community seems to have many complaints about this. The community believes that the team's allocation of tokens is too high, and the indefinite lock-up period has dashed short-term profit expectations in the market.

Background Information: EigenLayer Token Issuance

The EigenLayer team announced today that they will be issuing tokens, garnering attention in the market due to their unique mechanism and impact.

Controversies Surrounding EigenLayer Airdrop

Indefinite Lock-up of Airdropped Tokens

Due to the unique staking economic ecosystem of the EigenLayer protocol, the stability of the token is crucial for the protocol's development. As a result, the transfer function is currently not enabled, meaning all token holders cannot buy or sell until the ecosystem is more robust to enable this function.

DeFi Protocols Unable to Access Tokens Immediately

Unlike protocols such as Puffer Finance, Renzo, and the liquidity re-staking coin protocol LRT, which can access tokens in this round of airdrop activities, DeFi protocols led by Pendle cannot access tokens in Phase 1.

When token transfers are enabled in the future, the lock-up period for investors and team tokens will be reduced or end, raising concerns of preferential treatment for insiders.

Safe token transfer function activated, tokens and marketing activities officially launched

Majority of Tokens Held by Insiders

Currently, token distribution is set at 45% for the community, 5% for this round of airdrops, and 55% for the team and investors. The market perceives that insiders hold a relatively high proportion of tokens, considering that there are over 110,000 token stakers in EigenLayer at present.

Intense Community Reactions

Live Chat Disabled

According to community members' reports, the online news interview between Bankless and EigenLayer had to disable the chat function due to irrational spamming by many participants.

Phantom Wallet Blocks Claim Page

On the other hand, users of the Phantom wallet reported that the wallet system blacklisted the page for viewing eligibility and claiming EIGEN tokens, possibly due to excessive user reports.