The Eigenlayer team launched a claims process for its highly anticipated EIGEN token, but it won’t be transferable to others until further features are added.
Ethereum restaking protocol Eigenlayer launched its token-claim process or “airdrop” for Season 1, Phase 1 rewards, according to a May 10 blog post from the protocol’s development team. The claims process will allow users who are owed the new EIGEN token to finally acquire it, after weeks of waiting. However, EIGEN is currently non-transferable, so users cannot sell it.
According to the post, EIGEN will become transferable after the team implements new features in the coming months. September 30 is the tentative target date for these implementations. The claim process will close on September 7, and users who do not claim before that date will be unable to receive their tokens.
According to Eigenlayer documents, the token is not available to users in over 30 jurisdictions, including the United States, Russia, China, and Canada. Most VPN server addresses are also banned from being used to claim it.
