Eigenlayer Launches EIGEN Token with Nontransferable Status Until September

Eigenlayer has initiated the token-claim process for its EIGEN token, marking the beginning of Season 1, Phase 1 rewards distribution. However, the token is currently non transferable, with plans to enable transfers once additional features are integrated, expected by September 30th. Users have until September 7th to complete the claim process, after which unclaimed tokens will no longer be accessible. Notably, EIGEN tokens are unavailable to users in over 30 jurisdictions, including the United States, Russia, China, and Canada, with most VPN server addresses also restricted from claiming. Approximately 6.05% of the total EIGEN supply has been unlocked through the initial claim process, with an additional 0.7% set to be unlocked in Phase 2 starting mid-June. This phase will expand eligibility to users of platforms like Kelp, Pendle, and Equilibrium. However, the airdrop has faced criticism within the DeFi community for its restrictions on VPN usage, non transferability of tokens, and the perceived short snapshot period for eligibility.