Eclipse, the layer 2 that mixes expertise from the Ethereum and Solana blockchains has gone dwell with an airdorp of its $ES token.
The group behind the community shared that the preliminary distribution will happen over the subsequent 30 days.
Based on a press launch shared with CoinDesk, a complete of 1 billion $ES tokens have been minted. Of the provision, 15% is allotted to an airdrop and liquidity provisions for core group members and builders who’ve supported the community from the beginning. 35% will help ecosystem development and analysis and improvement, aimed to assist scale the community.
Contributors will obtain 19% of the provision, together with group members,with a 4 yr vesting interval and three yr lockup schedule. The remaining 31% is for early supporters and traders, who’re topic to a 3 yr lockup schedule with a view to commit with Eclipse’s roadmap long-term.
The group additionally stated that the $ES token serves a number of functions on the community. It acts because the fuel token for the Eclipse chain, and it additionally permits decentralized governance. Token holders will be capable of vote on key protocol upgrades and price buildings, corresponding to Maximal Extractable Worth (MEV) redistribution charges. The group additionally emphasised that the token’s utility could evolve over time with its decentralized governance.
The eclipse community went dwell in November 2024, however not with out some controversy. Neel Somani, Eclipse Labs’ co-founder and former CEO, was ousted from the corporate in Might 2024 after he acquired some sexual misconduct allegations towards him on X. Additional controversy got here in July when a CoinDesk investigation revealed that Somani had secretly allotted an outsize share of the $ES provide to a companion at Polychain. That take care of the Polychain companion now not exists, a spokesperson at Eclipse beforehand advised CoinDesk.
Learn extra: VC Darling Eclipse Lastly Debuts Its Solana-Ethereum Blockchain Hybrid
