{"id":293871,"date":"2024-05-02T02:31:52","date_gmt":"2024-05-01T21:01:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=293871"},"modified":"2024-05-02T02:31:52","modified_gmt":"2024-05-01T21:01:52","slug":"eigenlayer-withdrawals-accelerate-after-airdrop-backlash-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eigenlayer-withdrawals-accelerate-after-airdrop-backlash-crypto-news\/","title":{"rendered":"EigenLayer Withdrawals Accelerate After Airdrop Backlash – Crypto News"},"content":{"rendered":"

<\/p>\n

Nearly 14,000 wallets have triggered withdrawals from the Ethereum restaking protocol since April 29.<\/p>\n

\n

DeFi traders are leaving EigenLayer in droves since the much-hyped Ethereum restaking protocol released its airdrop allocations<\/a> two days ago.<\/p>\n

Since April 29, almost 14,000 wallets have initiated withdrawals from the protocol, accounting for roughly 13% of its user base<\/a>.<\/p>\n

<\/p>\n

EigenLayer Withdrawals<\/figcaption><\/figure>\n

<\/a><\/p>\n

EigenLayer is DeFi\u2019s third-largest protocol, with $14.5 billion in total value locked (TVL), according to DeFiLlama<\/a>. It enables users to re-stake their Ether or liquid staking tokens (LSTs) to earn additional yield by securing third-party applications called Actively Validated Services (AVS).<\/p>\n

Despite the large number of wallets, the pending withdrawals amount to less than 12,000 ETH ($35 million), according to a Dune dashboard<\/a>. That\u2019s barely 0.25% of EigenLayer\u2019s TVL and indicates that smaller depositors are leaving the protocol.<\/p>\n

\"Daily
Daily LST Withdrawals<\/figcaption><\/figure>\n

The project is facing severe backlash<\/a> from the DeFi community after it geo-blocked many countries, including the United States, and aggressively blocked VPN users from its EIGEN airdrop despite accepting deposits from these \u2018prohibited jurisdictions\u2019 during its growth phase.<\/p>\n

Airdrop recipients are also unhappy that the EIGEN token will not be transferable at launch, meaning that holders will be unable to trade their tokens. Many community members also criticized the linear distribution of EIGEN, which favours larger depositors.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Nearly 14,000 wallets have triggered withdrawals from the Ethereum restaking protocol since April 29. DeFi traders are leaving EigenLayer in droves since the much-hyped Ethereum restaking protocol released its airdrop allocations two days ago. Since April 29, almost 14,000 wallets have initiated withdrawals from the protocol, accounting for roughly 13% of its user base. EigenLayer […]<\/p>\n","protected":false},"author":2,"featured_media":293872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-293871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=293871"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293871\/revisions"}],"predecessor-version":[{"id":293878,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/293871\/revisions\/293878"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/293872"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=293871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=293871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=293871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}