Ether.Fi has rolled out its governance token ETHFI in a move intended to decentralize the liquid staking protocol.
Eligible users have until June 18 to claim their tokens.
(Unchained Archive)
Posted March 18, 2024 at 12:58 pm EST.
Ether.Fi’s airdrop distribution of its ETHFI governance token went live Monday morning in a move aimed at decentralizing the liquid staking protocol.
Factors that determined eligibility for the airdrop included whether a person is a staker on a Binance Launchpad round, an Ether.Fi solo staker, or a holder of eETH – the protocol’s flagship token that enables holders to accrue rewards from both staking ETH on Ethereum and restaking through EigenLayer.
Crypto users who are eligible for the ETHFI airdrop have until June 18, 2024 to claim their tokens.
Liquid Staking Craze
Data from CoinGecko shows that ETHFI has a fully diluted valuation of $3.4 billion— below that of the Solana memecoin WIF, but higher than competitors Lido and dYdX. ETHFI’s total supply stands at 1 billion tokens, with 6% of the total dedicated to the first season of Ether.Fi’s airdrop distribution and 2% set aside for those who participated in the Binance Launchpad round.
23.26% of the total supply has been earmarked for core contributors, 27.24% has been allocated to the DAO treasury, and 32.5% of total tokens will be vested over a two year period for investors, per the protocol’s documents.
EtherFi’s co-founder and Chief Growth Officer Rok Kopp told Unchained that “everything [about the airdrop] went really smoothly,” saying that the airdrop site was “reliable” insofar as “people were able to claim without issues,” Kopp added.
At press time, users have locked $2.876 billion worth of crypto assets into Ether.Fi’s smart contracts, according to DefiLlama.
