Ether.fi (ETHFI) Announces Token Airdrop

According to the latest announcement on March 16, the liquid restaking protocol Ether.fi has confirmed that it will organize an airdrop of ETHFI tokens on the following Monday, March 18, 2024. This project is built on EigenLayer.

Previously, Ether.fi was announced as the 49th Binance Launchpool project. ETHFI is a standard ERC-20 token on the Ethereum network, with a maximum total supply of 1 billion tokens.

The primary function of the ETHFI token is governance, allowing holders to participate in the project’s DAO organization and make decisions regarding sponsorship programs, protocol parameters, licensing for project programming changes, fund allocation, and token staking.

The https://t.co/gbHcksxzp2 DAO is coming on March 18th! Some quick hits and a 🧵

1. https://t.co/gbHcksxzp2 DAO launches March 18
2. Airdrop is live on 3/18. Check your ETHFI eligibility now at https://t.co/A5bDr0VuBR
3. 6% airdrop in Season 1 and 5% airdrop in Season 2
4.… pic.twitter.com/vTKmnYYHac

— ether.fi (@ether_fi) March 16, 2024

Upon launch, ETHFI will have 115.2 million circulating tokens, accounting for 11.52% of the total supply. 6% will be allocated to users in Season 1 of the airdrop, with the rest being used for the collaborative development plan of the Ether.fi ecosystem.

Specifically, 23.26% of the total ETHFI supply is allocated to the development team, 27.24% to the budget fund, and 32.5% to investors. However, these portions will be gradually unlocked over a period of 2-3 years.

According to DefiLlama, Ether.fi is currently the largest liquid restaking protocol with a TVL (Total Value Locked) of over $3 billion, surpassing competitors such as Puffer Finance, Renzo, Kelp DAO,… The project raised $27 million in Series A funding in February.

Related: Binance Lists ether.fi on Binance Launchpool

Conditions to receive the airdrop from Ether.fi

Airdrop Season 1 will be available to individuals who meet certain conditions, including early adopters, holders of Ether.Fan NFTs, participants in staking, holders or liquidity providers of eETH and weETH tokens, holders of the Ether.fi badge, and individuals who refer friends to the project. The snapshot for Season 1 was taken at 00:01 AM on March 15, 2024 (UTC).

Qualified users can claim the airdrop from March 18 to June 18. Unclaimed funds will be used for Season 2 of the airdrop, which is expected to distribute an additional 5% of the total ETHFI token supply, although no specific timeline has been announced yet.