There are more than 12,000 withdrawal requests on EigenLayer. This surge in withdrawals was triggered by EigenLayer's decision to exclude certain regions from participating in its EIGEN token airdrop

EigenLayer is Ethereum restaking protocol.

On Apr 29, 2024, EigenLayer unveiled EIGEN token on Apr 29, 2024. It has announced that airdrop claim will be starting on May 10.

The airdrop will allocate 15% of EIGEN’s total supply.

EIGEN tokens will have a total supply of 1.67 billion tokens, of which 45% will be allocated to the community.

From 45% divided into stakedrops 15%, community initiatives 15%, and ecosystem development 15%, with the remainder allocated to investors 29.5% and early contributors 25.5%.

Recently, EigenLayer has been in the spotlight due to a substantial number of withdrawal requests between April 29 and April 30, totaling over 12,412 withdrawal requests.

This surge in withdrawals was triggered by the protocol's decision to exclude certain regions, including the U.S. and Canada, from participating in its EIGEN token airdrop.

The exclusion of these key economic jurisdictions has led to widespread disappointment among EigenLayer’s participants.

The mass withdrawal requests began on April 29, with daily withdrawals increasing rapidly, reflecting the community's reaction to the airdrop policy.

Between April 29 and May 2, EigenLayer total value locked reduced from $16.33 billion to $14.83 billion.

The exclusion of certain regions from EigenLayer's airdrop was a decision influenced by a complex set of factors.

One of the primary reasons appears to be the regulatory environment in the excluded regions, which includes the United States, Canada, and China, among others.

These jurisdictions have stringent regulations regarding cryptocurrency and token distributions, which can pose legal challenges for blockchain projects.

By excluding these regions, EigenLayer may have been attempting to mitigate potential legal risks associated with the airdrop of their EIGEN token.

This approach, however, has led to controversy and dissatisfaction among users, particularly those in the excluded regions who felt they were unfairly prevented from participating in the airdrop.

The situation underscores the issue that EigenLayer wants to make compliance with diverse international regulations. broad inclusivity and

Whereas, the community wants EigenLayer’s team to have inclusive policy for EIGEN token airdrop.