Token

United

EigenLayer

April

<h4><strong>According to <a href="https://dune.com/queries/3592801/6052719" target="_blank" rel="noopener">Dune Analytics</a>, the protocol has received over 12,412 withdrawal requests in just the last three days.</strong></h4> 
<p>The wave of withdrawals started on April 29, soon after EigenLayer released a white paper on its EIGEN token’s distribution and uses.</p> 
<h5><strong>Rising Withdrawals Following EIGEN Token White Paper Release</strong></h5> 
<p>On that day alone, the platform <a href="https://dune.com/queries/3636372/6124105" target="_blank" rel="noopener">saw</a> 4,336 withdrawals, a number that escalated to 6,496 by April 30. This surge in withdrawals corresponds directly with the discontent among users after learning about geographic restrictions on the airdrop.</p> 
<p>The EIGEN airdrop faced backlash upon the revelation that participants from several jurisdictions. This includes the United States, Canada, and various countries in Africa and Asia, would be excluded. This exclusion sparked significant frustration among EigenLayer’s users, leading many to withdraw their stakes from the platform.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">After a lot of hype and initial buzz, many people were disappointed with <a href="https://twitter.com/eigenlayer?ref_src=twsrc%5Etfw">@eigenlayer</a>'s new token announcement and airdrop, <a href="https://twitter.com/search?q=%24EIGEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$EIGEN</a>.</p> 
 <p>Let’s take a look at the details – as always, do your own research. <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/X7luLU2vrs">pic.twitter.com/X7luLU2vrs</a></p> 
 <p>— Cointelegraph (@Cointelegraph) <a href="https://twitter.com/Cointelegraph/status/1785414048562995668?ref_src=twsrc%5Etfw">April 30, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>With over 107,000 unique depositors, about 11.6% have withdrawn their funds following the announcement. This mass exodus not only reflects the immediate impact of the airdrop’s policy decisions. Also, it raises questions about the long-term implications on investor trust and protocol stability.</p> 
<h5><strong>More About EigenLayer’s Withdrawals</strong></h5> 
<p>EigenLayer’s strategy for the EIGEN token was to enhance the functionality and inclusivity of its <a href="https://www.altcoinbuzz.io/?s=staking" target="_blank" rel="noopener">staking</a> services. However, the restrictive nature of the airdrop has instead led to a notable decrease in participation. The protocol’s attempt to innovate and reward its users has, paradoxically, resulted in a substantial reduction in user engagement.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">I bet you've heard about the EigenLayer's Airdrop</p> 
 <p>First of, EigenLayer is an incredible project that enhances Ethereum like never before! That been said…</p> 
 <p>Here are some of the main deceptions: </p> 
 <p><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f539.png" alt="🔹" class="wp-smiley" style="height: 1em; max-height: 1em;">EigenLayer team and investors are getting 55% and takers are getting only 5%… <a href="https://t.co/JLfGtzGAAh">pic.twitter.com/JLfGtzGAAh</a></p> 
 <p>— CryptoRodo (@RodolfoPozoA) <a href="https://twitter.com/RodolfoPozoA/status/1785320704080019658?ref_src=twsrc%5Etfw">April 30, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>This situation serves as a critical reminder of the importance of clear communication and inclusive policy planning in the <a href="https://www.altcoinbuzz.io/?s=crypto+market" target="_blank" rel="noopener">crypto sector</a>. Excluding large swathes of the global market can have immediate and severe repercussions for blockchain initiatives, particularly those that rely heavily on a diverse and active user base.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
<div class="youtube-embed" data-video_id="c_EwNPkXKjw">
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/eigenlayer-hit-by-withdrawals-after-airdrop-restrictions/">EigenLayer Hit by Withdrawals After Airdrop Restrictions</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

EigenLayer Hit by Withdrawals After Airdrop Restrictions

Altcoin Buzz

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