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- Decentralized social platform Friend.Tech’s native token has opened for trading. The platform requires users to meet certain in-platform prerequisites to become eligible for token claims. Meanwhile, EigenLayer has taken action following criticism of its first airdrop. The crypto project will distribute an additional 100 to 110 EIGEN.
- FriendTech, which became operational on the Ethereum
Layer 2 network Base in August, stands out with its unique, invitation-only network service that allows users to benefit from social tokens called “Keys” that provide access to private chats and content creators’ content. - The token airdrop coincided with the launch of FriendTech’s version 2 (v2), which offers new features to users, including “Clubs,” community spaces owned and operated by key holders.
Friend.Tech and EigenLayer, two crypto projects, are set to distribute tokens to their users, following certain prerequisites and amidst some criticism.
FriendTech’s FRIEND Token Airdrop
FriendTech’s new native token for the Web3 social media platform has started trading on DEXs in Base. According to DexScreener, the FRIEND token is currently trading at $3 with a circulating supply of about 14.5 million. The token airdrop coincided with the launch of FriendTech’s version 2 (v2), which offers new features to users. These include “Clubs,” community spaces owned and operated by key holders. The keys to the clubs will trade in Friend tokens with a 1.5% fee for every transaction going to liquidity providers on the DEX. Users need to follow at least 10 users on FriendTech to claim airdrop tokens. They also need to be part of a Club.
EigenLayer’s Additional Airdrop Following Criticism
Following harsh criticism of EigenLayer’s first airdrop, the crypto project will distribute an additional 100 to 110 EIGEN to 280,000 eligible wallet addresses. On Monday, EigenLayer announced it would allocate 15% of its total supply to the community. However, some users found various provisions of the airdrop program restrictive. The Eigen Foundation said in a letter sent to X on May 2 that it would send additional EIGEN tokens to the wallets of users who interacted with the protocol before April 29. This will include the first airdrop claimants. In a blog post, it stated that Season-1 claimants would receive at least 110 EIGEN. Season-2 claimants will receive at least 100 EIGEN. These individuals must have interacted with the protocol between March 15 and April 29.
Conclusion
Both FriendTech and EigenLayer are taking steps to distribute tokens to their users, albeit with certain prerequisites and amidst some criticism. These airdrops represent a significant step for both projects, potentially increasing user engagement and investment. However, the criticism faced, particularly by EigenLayer, highlights the need for clear and fair distribution policies in the crypto space.