Eclipse Foundation Airdrops 100M ES Tokens

The Eclipse Foundation, which operates the innovative Eclipse Layer 2 blockchain, is set to airdrop its new ES token to early users. This blockchain combines Solana's speed with Ethereum's security, claiming the title of 'Solana on Ethereum'. A total of 1 billion ES tokens have been minted, with 10% (100 million tokens) designated for the airdrop, according to a spokesperson. Additionally, 5% is reserved for liquidity to facilitate trading on exchanges, while the remaining supply is allocated across different categories — 35% for ecosystem and development, 19% for contributors, and 31% for early supporters and investors. To qualify for the airdrop, users' eligibility relies on three key factors: their interaction within the Turbo Tap game, their social media presence measured by Kaito analytics, and their engagement on Discord. The Turbo Tap game rewarded users with 'grass' points for contributing to network testing, though these points are not directly convertible to tokens. The airdrop will commence on Wednesday, unfolding over the following 30 days. Determining factors for the allocations and a comprehensive snapshot will be published post-airdrop to avoid manipulation. The ES token is operational on the Eclipse, Ethereum, and Solana mainnets. It serves multiple functions, acting as a gas token for transactions on the Eclipse chain and facilitating decentralized governance, allowing holders to partake in key decision-making processes regarding the protocol's future. Beyond the airdrop, the 35% earmarked for ecosystem and development will fund ongoing research and broad initiatives to foster the Eclipse Economy — a developer-centric, user-driven economic model with a global outlook. Meanwhile, the 19% allocated for contributors will go to team members involved in the project, subject to a four-year vesting period with a three-year lockup. Team members are excluded from the airdrop to prevent allocation manipulation. They will, however, receive their share through separate allocations as part of their compensation packages. The 31% designated for early supporters and investors includes those who financially backed Eclipse's development and will be under a three-year lockup. Eclipse was founded in 2022, launching its public mainnet in November 2024, making it the first Solana Virtual Machine-based Layer 2 on Ethereum. It allows developers to create applications that leverage Solana's parallel execution and Ethereum's security. Currently, Eclipse's total value locked (TVL) reaches approximately $30 million. Last year, the former CEO, Neel Somani, resigned amid allegations of sexual misconduct, which he denies. Vijay Chetty has since taken the helm as CEO. Disclaimer: The Block provides news and data independent of external influences. As of November 2023, Foresight Ventures is a majority investor in The Block but does not interfere with its operations.