Ether.fi, the largest native restaking protocol on Ethereum, has officially announced the details of its governance token, ETHFI, airdrop. The first season airdrop snapshot was taken on March 15, with distribution starting at 8:00 PM UTC+8 on March 18. Major exchanges like Binance will also list the token simultaneously.
ETHFI Airdrop Eligibility and Distribution
The native token of Ether.fi, ETHFI, has a total supply of 1 billion tokens, with an initial circulating supply of 115.2 million. The first airdrop season will distribute 6.8% of the total token supply. A second season is planned to release an additional 5% of tokens based on user activity between March 15 and a future unspecified date.
According to the tokenomics, the remaining tokens will be allocated among investors, partners, core contributors, and the protocol treasury.
Users can claim their airdropped tokens within 90 days from the official claim portal. Any unclaimed tokens from the first season will be added to the second airdrop round.
Eligibility criteria include holding eETH, referring friends to the protocol, or participating in the Early Adopter Program. The project also noted that larger wallets, or "whale wallets," will be subject to a three-month vesting period, while smaller holders can claim their tokens immediately.
Major Participants and Community Reaction
Following the airdrop announcement, community members observed that Justin Sun, founder of TRON, was set to receive 3.45 million ETHFI tokens after depositing 20,000 ETH just two days before the snapshot. This sparked noticeable discontent among some community participants.
In response, Ether.fi founder Mike Silagadze addressed the community on Discord, stating:
Having a participant bring significant capital into the protocol doesn’t mean we should change rules retroactively. We appreciate Justin’s support and will adhere to the rules we established.
Silagadze also emphasized that the team would increase token allocation for smaller stakers in future airdrop rounds.
Revised Airdrop Allocation Benefits Smaller Stakers
In a recent update, Ether.fi increased the first airdrop allocation from 6% to 6.8% of the total supply, with a stronger emphasis on rewarding smaller stakers. The breakdown is as follows:
- 90% to stakers
- 6% to partners
- 4% to early adopters (NFT holders and EAP participants)
The staker allocation is designed to be linearly distributed, favoring participants with smaller stakes. The team also issued a reminder to be cautious of phishing attempts and to only use official links for claims.
Frequently Asked Questions
What is Ether.fi?
Ether.fi is a decentralized restaking protocol built on Ethereum that allows users to earn rewards while retaining control of their private keys. It supports liquid restaking and aims to enhance security across the Ethereum ecosystem.
How can I claim my ETHFI airdrop?
Eligible users can claim tokens through the official claim portal. You will need to connect your wallet and verify eligibility. Remember to use only official sources to avoid scams.
Why do larger wallets have a vesting period?
The vesting mechanism for larger holders is designed to promote fair distribution and reduce potential market manipulation immediately after the token launch.
Will there be more airdrop seasons?
Yes, Ether.fi has confirmed a second airdrop season that will reward ongoing participation and support for the protocol. Unclaimed tokens from the first season will be added to the second airdrop.
Is my stake safe on Ether.fi?
While the protocol implements strong security practices, all cryptocurrency investments involve risk. It is important to 👉 explore security best practices and understand the potential risks involved.
Can I trade ETHFI immediately after claiming?
Yes, though users should note that tokens claimed by larger wallets may be subject to a lock-up period. Always check official communications for the latest details.
Disclaimer: Cryptocurrency investments are highly risky and subject to extreme market volatility. There is a possibility of losing all invested capital. Participants should exercise caution and perform their own research before engaging in any financial activities.