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Ether.fi will begin a token airdrop tonight at 8 p.m., with Sun Yuchen receiving 3.45 million ETHFI tokens.

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Ether.fi will begin a token airdrop tonight at 8 p.m., with Sun Yuchen receiving 3.45 million ETHFI tokens.

The largest liquidity re-delegation protocol on Ethereum, Ether.fi, has announced details of its governance token ETHFI airdrop. The snapshot for the first season airdrop was confirmed on 3/15 and distribution is set to begin at 8 pm Taiwan time on 3/18, with listing on Binance at the same time. TRON founder Justin Sun will receive 3.45 million ETHFI tokens.

ETHFI Airdrop Now Open for Claiming, Starting at 8 AM

The token of Ether.fi is named ETHFI, with a total supply of 1 billion tokens and an initial circulating supply of 115.2 million tokens. The first-season airdrop will release 6.8% of the total token supply, with the airdrop snapshot confirmed on 3/15. The second season will release the remaining 5% of the tokens, covering activities from March 15 to an unspecified future date. According to the tokenomics distribution of the protocol, the remaining tokens will be distributed among investors, partners, core contributors, and the protocol's treasury.

The snapshot for the first-season airdrop was confirmed on 3/15 and distribution began at 8 PM on March 18, Taiwan time. Users will have 90 days to claim their ETHFI on Claim.ether.fi. Any unclaimed ETHFI tokens will be added to the second-season airdrop.

Ether.fi has provided various criteria for eligibility for the airdrop, including holding eETH, referring friends to use the protocol, or participating in the protocol's early adopter program. According to Ether.fi's announcement, "whale wallets" will need to wait for 3 months to claim the tokens, while smaller wallets will be able to claim immediately.

Justin Sun to Receive 3.5 Million ETHFI Tokens

According to a report by The Block, following the announcement, community members noticed that controversial TRON founder Justin Sun deposited 20,000 ETH two days ago and is set to receive 3.45 million tokens out of the initial 60 million token allocation. This sparked complaints within the community.

Ether.fi founder Mike Silagadze defended Sun's allocation on Discord:

Just because someone comes in with a large sum of money doesn't mean we will change the rules and mess them up. We appreciate Justin's support and will adhere to the rules we have set.

Silagadze also promised to airdrop more tokens to small stakers.

ether.fi ETHFI is also part of this period's Binance new coin mining Launchpool project, which ended this morning and officially listed at 8 PM today.

ether.fi Updates Airdrop Conditions to Benefit Small Stakers

ether.fi updated the airdrop conditions this morning, increasing the airdrop tokens from the original 6% to 6.8% and raising the share for small stakers. The distribution breakdown is as follows:

  • 90% to stakers
  • 6% to partners
  • 4% to early adopters, NFT holders, and EAP participants

It is emphasized that the distribution to stakers is linear and skewed towards small stakers. The official reminder warns of many phishing emails circulating, advising everyone to use official links to avoid falling victim!