Who is eligible to receive ether.fi's ETHFI airdrop? How to claim it?

ether.fi’s ETHFI airdrop goes live this morning! Who qualifies 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 created $230 million in free wealth for early members of its community!

The largest share of the airdrop (90%) went to stakers; anyone who earned more than 1,000 points (equivalent to staking 1 ETH for one day or 0.1 ETH for ten days) was eligible for a distribution, with badge holders and referrals receiving larger distributions.

Quick Look:

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

2. We listened to the community and increased the token allocation by more than 12 million, an additional 1.2% of the total supply. This money goes to small stakeholders and does not dilute the interests of whales;

3. The average number of airdrops received by each user is 575 tokens, and the median is 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 an additional 7.7 million tokens from others!

Season 1 Token Distribution:

• 90% to the stakers;

• 6% to partners;

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

Stakers received a 90% proportional share (61 million tokens), the distribution was linear but skewed towards smaller stakers;

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

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

Eligibility for airdrop:

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

• Fan NFT holders receive 430 tokens per NFT;

• Independent stakers who participated in the “Solo Staker Operation” received 4,200 tokens;

Badge holders and referrals received more allocations.

Who is not eligible?

• Users who have earned less than 1,000 points through staking activities (i.e., if a user’s points come entirely from badges, they will not receive the airdrop);

• Users who have not transitioned 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, where tiered airdrops are highly susceptible to manipulation and are commonly subject to Sybil attacks, (mostly) linear airdrops are critical in order to respect YT holders.

2. Did last week’s whales dilute value for 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 receive 0.125% of the 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.

While ether.fi’s distribution is mostly linear based on ETH deposits, it is skewed in favor of certain groups of stakeholders, with the bottom 50% of wallets contributing 1.8% of TVL and receiving 18% of tokens.

Due to this distribution, later whales also managed to cash out large sums of money. Justin Sun deposited 120,000 ETH into ether.fi and received nearly 3.5 million ETHFI tokens (worth $11.7 million at the time of analysis).

For those who missed out on the ether.fi airdrop, don’t despair, as now is the time to turn your regret for not taking advantage of this opportunity into action and prepare for future airdrop opportunities! Not only is ether.fi promising an additional 5% token supply reduction during the second airdrop round, but there are multiple other no-token restaking projects, making it a lucrative prospect to interact with projects in the space.