The community is dissatisfied that Justin Sun will receive a huge airdrop from ETHFI! Ether.fi: Airdrop adds 12 million tokens

Ether.fi, the largest liquidity re-pledge protocol on Ethereum, announced that the first airdrop of its governance token ETHFI will be officially launched at 7pm Beijing time today.

According to official data, the total supply of ETHFI is 1 billion, and the initial circulation is 115.2 million. The airdrop in the first quarter is expected to issue 68 million tokens, accounting for 6.8% of the total supply. The airdrop snapshot will be completed on March 15, of which 90% will be distributed to stakers; 6% to partners; 4% to early adopters such as fan NFT holders and EAP participants.

ETHFI’s second quarter airdrop will release 5% of the remaining tokens, covering activities on March 15 and beyond. These tokens will be distributed to investors, partners, core contributors, and the protocol finance department.

According to Ether.fi’s announcement, “whale wallets” will need to wait 3 months to receive tokens, while smaller wallets will be able to receive them immediately.

Ether.fi’s airdrop also caused some controversy. Some on-chain analysts pointed out that TRON founder Justin Sun deposited 120,000 ether coins to Ether.fi last week, worth about $480 million, and is expected to receive an airdrop of more than 3 million ETHFI tokens.

After receiving a large number of complaints from Ether.fi community members, officials decided to allocate more than 12 million additional tokens to community members, accounting for 1.2% of the total supply. The increased tokens will mainly benefit small stakers and will not cause value dilution to large holders.

Regarding the community’s dissatisfaction with the fact that “Justin Sun will receive a huge airdrop”, Ether.fi founder Mike Silagadze explained on Discord that Justin Sun’s address did not violate the airdrop rules. He pointed out that according to the airdrop design of the "Countdown Event", as long as the total pledged amount of the Ether.fi protocol increases by 50,000 Ether coins, the total airdrop amount will increase by 0.125% of the supply. This mechanism ensures the fairness and transparency of the airdrop and will not adversely affect any participant. Therefore, the airdrop obtained by Justin Sun is not illegal and complies with the rules of the event. This explanation helps to eliminate the community's doubts about this matter and maintains the fairness and openness of the event.

In other words, the huge deposit behavior of Justin Sun’s address did not reduce the share of other people’s airdrops. Instead, it increased the total amount of airdrops, allowing everyone to obtain more airdrops. As part of the campaign, in addition to allocating an additional 0.125% of the token airdrop to new depositors, Ether.fi will also allocate an additional 0.125% to existing users, meaning existing depositors can receive an additional 7.7 million tokens. ETHFI.

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