Who is eligible to receive ether.fi’s ETHFI airdrop? How to get it?

Author: Jack Inabinet, Bankless, Twitter @ether_fi; Compiled by: Deng Tong, Golden Finance

ether.fi’s ETHFI airdrop will be launched this morning! Who is eligible for the airdrop and how do you claim your allocation?

At the current price of $3.40 per ETHFI, the protocol’s 68 million token airdrop is available to early members of its community Created $230 million in free wealth!

The largest share of the airdrop (90%) went to stakers; any Anyone who earns more than 1,000 points (equivalent to staking 1 ETH for one day or 0.1 ETH for ten days) is eligible for distribution, and badge holders and recommenders will receive additional distributions.

Quick View:

1. We gave away 68 million tokens in the first quarter, accounting for 6.8% of the supply;

2. We listened to the community , increasing the token allocation by over 12 million, accounting for an additional 1.2% of the total supply. The funds flowed to small stakeholders and did not dilute the interests of whales;

3. The average number of airdrops received by each user was 575 tokens, and the median was 175 tokens;

4. The largest allocation was approximately 3 million tokens, and this person deposited $480 million during the final countdown event;

5. Deposits during the final countdown event resulted in Others added 7.7 million tokens!

Season 1 Token Allocation:

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90% to stakers;

• 6% to partners;

• 4% to early adopters holders (fan NFT holders and EAP participants).

Stakers received 90% of the proportional share (61 million tokens), the distribution is linear but biased towards smaller stakers;

The bottom 50% of wallets contributed 1.8% of TVL and received 18% of the token allocation;

The top 10% of wallets contributed 88% of TVL and received 65% of Token distribution.

Eligibility for airdrop:

• Staking 1,000 points to obtain more than 1,000 points is equivalent to staking 1 ETH/day, or staking 0.1 ETH/10 days;

• Fan NFT holders can obtain more than 1,000 points for each NFT. Obtained 430 tokens;

• Independent stakers participating in "Solo Staker Operation" received 4,200 tokens;

Badge holders and referrers receive more allocations.

Who is not eligible?

• Users who have earned less than 1,000 points through staking activities ( That is, if a user's points come entirely from badges, they will not receive airdrops);

• Users who have not converted out of EAP.

Frequently asked questions:

1. Why choose a linear model instead of a hierarchical model?

For staking protocols, especially those integrated with Pendle, layered airdrops are very easy to manipulate and are generally subject to Sybil attacks. In order to respect YT holders, (mostly) linear Airdrops are crucial.

2. Did last week’s whale dilute the value of everyone else?

No, in fact large deposits increase everyone's allocation. The Final Countdown Promotion is a matching model where every 50,000 ETH staked will earn 0.125% of tokens and existing stakers will receive a matching 0.125%. As a result of the final countdown, the community received an additional 7.7 million tokens allocated to them.

Although the distribution of ether.fi is mainly based on a linear distribution of ETH deposits, it is biased in favor of certain stakeholder groups, with the bottom 50% of wallets contributing 1.8% TVL and received 18% of the tokens.

As a result of this allocation, later whales have also managed to cash out large sums, with Justin Sun receiving nearly 3.5 million ETHFI tokens after depositing 120,000 ETH into ether.fi last Wednesday (in analysis worth $11.7 million at the time).

For those who missed it Ether.fi airdrop lovers, do not despair, because now is the time to turn your regrets about not taking advantage of this opportunity into action and prepare for future airdrop opportunities! Not only is ether.fi promising an additional 5% of the token supply during the second airdrop, but there are multiple other token-less restaking projects, making interacting with projects in this space a lucrative prospect.