Native Tokens and Airdrops: FriendTech Ascends, EigenLayer Addresses Criticism

The native token for decentralized social platform Friend.Tech has commenced trading on decentralized exchanges within the Base ecosystem. To qualify for token airdrop distribution, users must complete certain platform prerequisites, such as following a minimum number of users and joining a Club. Meanwhile, EigenLayer has responded to criticism of its initial airdrop by allocating an additional 100-110 EIGEN to eligible wallet addresses.

FriendTech Unveils Native Token and Airdrop, While EigenLayer Addresses Airdrop Criticism

FriendTech Launches Native Token, FRIEND

FriendTech, the decentralized social media platform, has introduced its native token, FRIEND, which has commenced trading on decentralized exchanges (DEXs) within the Base network. The token is currently valued at $14.5 and boasts a circulating supply of approximately 3 million.

To qualify for the FRIEND token airdrop, users must fulfill specific platform requirements, including following a minimum of ten individuals and joining a "Club," a community space managed by key holders. Club keys can be traded using FRIEND tokens, with 1.5% of each transaction allocated to liquidity providers on the DEX.

FriendTech's latest update, version 2 (v2), introduces new features such as Clubs, providing users with greater control over their community engagement. According to DeFiLlama, FriendTech currently ranks ninth among protocols on the Base network, with a total value locked (TVL) of approximately $30 million.

EigenLayer Responds to Airdrop Backlash

In response to substantial criticism surrounding its initial airdrop, cryptocurrency project EigenLayer has announced an additional distribution of 100 to 110 EIGEN tokens to 280,000 eligible wallet addresses. This announcement follows concerns raised by users regarding restrictive eligibility requirements for the previous airdrop.

EigenLayer intends to allocate 15% of its total supply to the community. However, its initial airdrop faced criticism for various provisions. To address these concerns, the Eigen Foundation has announced that it will provide additional EIGEN tokens to users who interacted with the protocol before April 29th, including requesters from the first airdrop.

Season-1 requesters will receive a minimum of 110 EIGEN, while Season-2 requesters will receive a minimum of 100 EIGEN. To qualify, individuals must have interacted with the protocol between March 15th and April 29th.

Although EIGEN tokens are not yet available in the market, perpetual futures contracts for the token are actively traded, currently valued at $10 on the derivatives market. The value of the latest airdrop is estimated to be around $280 million.

Conclusion

FriendTech's launch of its native token and airdrop marks a significant milestone for the decentralized social media platform. The token provides users with governance and utility within the network and incentivizes participation in the FriendTech ecosystem.

Meanwhile, EigenLayer's response to airdrop criticism demonstrates a commitment to addressing community concerns. The additional airdrop and expanded eligibility criteria aim to foster a more inclusive and engaged community while ensuring a fair distribution of EIGEN tokens.