Ether.fi Adjusts Token Distribution

Ether.fi has unveiled its plans for distribute it’s governance tokens (ETHFI) with a total limit of one billion tokens.

The most prominent liquid restaking protocol on the Ethereum blockchain, Ether.fi has just provided an overview of its plan for the distribution of governance tokens, which are abbreviated as ETHFI.

Given the one billion token limit, the first phase will distribute 115.2 million tokens globally. It is part of a larger initiative aimed at decentralizing governance and encouraging participation in the Ether Fi ecosystem.

Season 1 of the airdrop will distribute 6% of the overall supply, while Season 2 will distribute an additional 5% of the stock. We split the airdrop into two main parts. Through these phases, users who accessed the platform before and during the 15th of March can get reimbursement.

We consider other factors when determining who is eligible for the airdrop. These factors include holding eETH, referring new users, and participating in the Early Adopter Program.

In addition, Ether.fi has taken measures to achieve a more equitable distribution of its tokens by imposing a three-month claim delay for large holders and providing rapid access to small accounts.

Such a structured strategy demonstrates Ether.fi commitment to equitable participation and the long-term health of ecosystems.

Ether.fi Community Reaction

Following the announcement of the airdrop, the community responded by providing comments on the distribution of tokens to prominent investors, including Justin Sun.

A significant amount of discussion has occurred among the Ether.fi community around the Sun’s receipt of approximately 3.5 million tokens, which involved a considerable deposit.

Mike Silagadze, the founder of Ether.fi responded to the community’s criticisms by actively participating in the user conversation and announcing their plans to increase the proportion of tokens reserved for the community.

Silagadze raised the second primary issue, emphasizing the importance of upholding the initially established norms and expressing gratitude for all forms of support, including Sun, one of the most significant donors.

Ether.fi demonstrates its proactive approach by adjusting the token distribution in response to community input. This is a situation in which tokens are more easily accessible to the general community, resulting in Ethereum being more democratic and inclusive.

Because the protocol is a participatory form of communication with its audience and strives to be as transparent as possible, the specifics of these adjustments are still to come.

Ether is the most important cryptocurrency in the Ethereum ecosystem, its total value locked (TVL) is also one of the biggest, with a value greater than three billion dollars.

Ether.fi now in the same league as its peers in the liquid restaking industry, a significant distance ahead of its closest competitors. Another piece of evidence that the protocol has been successful is the recent venture capital funding round, which was worth $27 million.

This indicates that investors believe in the protocol’s strategic vision and operational approach.