Eigen Reward Claim Postponed to October 15 2024!
2024-10-04
Bittime - Eigen Foundation announced the postponement of claiming EIGEN rewards in the program Programmatic Incentives v1. Previously, claiming the EIGEN reward was scheduled for October 8 2024, but will be postponed until October 15 2024.
This delay is to ensure that only eligible non-investor EIGEN pledgers and eligible operators are eligible to receive programmatic rewards. Read this article to find out more!
Reason of Eigen Reward Claim Postponed
The reason EIGEN reward claims are postponed is that there is a discrepancy in implementation Programmatic Incentives v1.
Eigen found that several addresses that were not supposed to participate in this reward program were actually registered, especially addresses belonging to investors who were not supposed to receive rewards before the token transferability date, namely September 30, 2024.
Previously, in May 2024, Eigen had determined that investors who staked EIGEN would not get rewards up to a limit of transferability token revoked.
However, when they decided to provide retroactive rewards starting August 15 2024, several investor addresses were accidentally registered in this reward program.
Read Also: EIGEN Staking Withdrawal Time Shortened from 24 Days to 7 Days
System Improvements for Eigen Reward Claim
To solve this problem, Eigen decided to disable Merkle root which was published on October 1, 2024. Merkle root is the code used to calculate and distribute rewards to members' stakes.
On October 8, 2024, Eigen will publish Merkle root new ones that have been updated with correct calculations. With reward results calculated from Merkle root this, the EIGEN reward claim will be opened immediately.
New Eigen Reward Claim Date: October 15, 2024
With this system update for claiming EIGEN rewards, Merkle root The new one will include rewards for EIGEN stakers and eligible operators for the period from August 15, 2024 to October 6, 2024.
After being published on October 8 2024, this reward will be able to be claimed on October 15 2024, exactly a week after Merkle root was newly published.
The Eigen Foundation also announced that it will publish the calculation code Merkle root This is openly to maintain transparency.
Read Also: Just Listed, EigenLayer (EIGEN) Price Immediately Records ATH
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