EigenBae

simply vibing farming eigenlayer points

[Brianna @zkBri]

Inspired by the wei forward with high-integrity people shaping the future of Ethereum and EigenLayer. Shoutout to @drakefjustin @sreeramkannan

[nader dabit @dabit3]

who is the best pepe artist in the universe and how can I hire them?

[EigenBae @eigenbae]

Eigen just dropped over $1B+ in their season 1! 🤯 #biggestAirdropOfAllTime

More to come, yeeeeee happy bae!

[EigenBae @eigenbae]

$EIGEN

[nΞxt alphaa 🛡️ @nextalphaa]

hear me out: @eigencloud might just be as NOVEL and BIG as the birth of Ethereum

i’ve come to the conclusion that we r e a l l y r e a l l y wanna learn more about EL and the $EIGEN token and its novel concept

we’ve got until Sep 30 to participate in and understand the concept and future potential of the ecosystem ie not treat the tokens as another pump and dump airdrop

imagine being a participant from the birth of Ethereum in 2015 🚀

I think we might just have got a second chance 🤯 🚀

https://t.co/DNTUorXuxY

[EigenBae @eigenbae]

This is all women want fr

[EigenBae @eigenbae]

@bankless I don’t like people understand EIGEN yet… whitepaper blew my mind but had to read it four times.

[Jesse Eckel @Jesseeckel]

I literally saw a post today that said:

"EigenLayer committed the biggest fraud in history."

Are you people on meth!?

The cold hard facts:

-Airdrop size: 15% is bigger than most airdrops. No issue here. For example the JITO airdrop was just 10% of supply.

-Team allocation: 25.5%, this is LESS than the ARB airdrop which 26.94% went to the team

-Investors: 29.5% this about the same as DYDX did at 28%. No one was complaining then.

-Geo blocking: Eigen was definitely more aggressive with this and I actually can understand some thoughtful pushback against this practice as an industry.

However this IS something all airdrops do in some form and blame ultimately goes to regulators not the project. Just like with previous airdrops you can get around this with some work as a user.

-Distribution: Those who deposited earlier or with more ETH got a bigger airdrop than those who deposited with less or later. People seem to think this isn't fair somehow. Yet this seems the very definition of fair.

Points made it really clear where you stood here. This really shouldn't be a surprise.

-Lockup period: Your tokens are locked for a period of time. Not sure how this is different from not having the tokens at all or them waiting another 6 months to airdrop the token. Seems reasonable if they're giving you some free tokens they can add a lockup period.

-Snapshot timing: The snapshot for season 1 was in March. Season 1 will get 5% of a total of 15% allocated for the airdrop. If you staked after March you're still going to get an airdrop in future seasons.

Please highlight for me how this is "the greatest fraud in history."

Or even how this is a bad airdrop?

We still have all the potential AVS airdrops, restaking yield, EtherFi round 2, Swell and so much more.

Does anyone even know why they're outraged? It seems like some crazy mob mentality hate and nobody has a good reason.

I look through the comments on posts, 90% are hate without any reason why they're upset. The other 10% are hate due to them misunderstanding something.

What am I missing here?

[David Hoffman @TrustlessState]

The $EIGEN drop:

At an implied $18B valuation (@aevoxyz perp)

- $903m was given to 280k addresses in Season 1
- There is $1.8b set aside for Seasons 2 + 3 drops

For comp:
- $ARB $1.5b to 625k addresses
- $ENS $1.07b to 138k addresses
- $DYDX $247m to 64k addresses

[EigenBae @eigenbae]

@Cointelegraph @eigencloud This is false ser! There has been net positive inflows into EigenLayer. Inaccurate reporting!

[EigenBae @eigenbae]

@DefiMoon @DefiDividends It clearly says in the coming months you silly goose :) I'm optimisitc

[EigenBae @eigenbae]

@Adrian03089604 @bankless @zkBri @eigencloud @sreeramkannan @eigenfoundation @rjdrost Pls read the full announcement ser. You will need to check back in 1-2 weeks for Season 1 phase 2 for defi integrations

[EigenBae @eigenbae]

@ComfyVentures @eigencloud wdym? there are two phases to season 1 ser https://t.co/tPEepp6sJ5

[WenMoon 闻月 💚 @0xWenMoon]

PSA to anyone angry at @eigencloud rn thinking they are excluding @pendle_fi from season 1...

Tl;dr they haven't, they are just shit at writing docs

The docs say that the users of "more complex defi protocols" aren't eligible for phase 1 but will be for phase 2.

The important thing here is that Seasons != Phases, which is confusing AF

Season 1 has 2 phases, phase 1 for direct eigen and lrt stakers, and phase 2 for defi users. The reason for this split seems to make sure they finalise the numbers and mapping to each user for every defi integration correctly.

Since the token is non-transferrable at the start, this wait shouldn't matter.

Pendle YT buyers should therefore be elligible for BOTH season 1 and 2, so we can put the pitchforks down 😆

Disclaimer: I'm not the team

[EigenBae @eigenbae]

@phtevenstrong @leDuckTape @DefiIgnas And they will get their drop in Phase 2 with same criteria as direct plus whatever the LRT teams share about their users. Not sure why you mad bro, just have to be patient because degen shit is hard to track ifykyk

[EigenBae @eigenbae]

@DefiIgnas @phtevenstrong Points = ETH x hours. I don't see your point ser

[EigenBae @eigenbae]

@phtevenstrong It’s 10% to unattributable defi actions (this is what it equated to from what I read in the post) that the LRT projects will provide to them for phase 2

[EigenBae @eigenbae]

just finished reading the EIGEN whitepaper, time for a drink

[Brianna @zkBri]

EigenLayer on a vape is insane 😭

[EigenBae @eigenbae]

this is what farming EigenLayer points actually looks like

[EigenBae @eigenbae]

I just delegated my ETH on EigenLayer! LFG 🚀 Betting big on delegation incentives...who's with me?

[EigenCloud @eigencloud]

The delegation momentum is going strong!

2.2M of restaked ETH has been delegated on EigenLayer since the mainnet launch.

Thanks to users and LRTs like Renzo for leading the way.

Delegate here: https://t.co/nPg305AtJN

[EigenBae @eigenbae]

@Eigen_Elephant 🫡

[EigenBae @eigenbae]

Me looking at how many EigenLayer points I have