Ether.fi Announces Airdrop of Governance Tokens Amidst Market Excitement

Ether.fi, the leading liquid restaking protocol on the Ethereum blockchain, has unveiled its plan to distribute governance tokens through an airdrop. The token, aptly named ETHFI, is set to have a whopping total supply of 1 billion tokens, with an initial circulating supply of 115.2 million tokens.

A Two-Season Airdrop Strategy

The airdrop is structured in two main stages: Season 1 and Season 2. Season 1, which covers behavior up to March 15, will see the release of 6% of the total token supply. Season 2, commencing immediately after, will release an additional 5% of the remaining tokens. The exact end date for Season 2 remains unspecified, adding an element of suspense to the event.

Tokenomics and Distribution

The distribution plan for the remaining tokens is meticulously outlined in the protocol’s tokenomics. Investors, partnerships, core contributors, and the protocol’s treasury are all set to receive a portion of the tokens, ensuring a wide and fair distribution that supports the protocol’s long-term viability.

Eligibility Criteria and Controversies

Ether.fi has set forth a variety of criteria for airdrop eligibility, catering to different participants in the ecosystem. Holding eETH, referring new users to the protocol, or being part of the Early Adopter Program are some of the ways to qualify. However, in a bid to prevent market manipulation, “whale wallets” are subject to a 3-month waiting period before they can claim their tokens, while smaller wallets enjoy the benefit of instant claims.

The announcement has not been without its share of drama. Notably, Justin Sun, the polarizing figure behind TRON, is set to receive nearly 3.5 million tokens from the initial allocation, following a substantial deposit of 20,000 ETH. This revelation has sparked discussions within the community, highlighting the complexities of airdrop allocations.

Ether.fi’s announcement comes on the heels of significant financial milestones. With over $3 billion in total value locked, the protocol stands head and shoulders above its competitors, boasting more than double the value of its nearest rival. This financial prowess is further bolstered by a recent $27 million venture funding round, split between a SAFE and a Series A, as reported by The Block.

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