Mantle Distributes EIGEN Airdrop to USDe Holders in Pendle
2024-10-15
Bittime - Mantle has successfully distributed the EIGEN airdrop to users holding eligible USDe on the Pendle platform.
What are the distribution details for this EIGEN airdrop? Read this article to find out more!
EIGEN Airdrop Distribution
Mantle announced that all EIGEN airdrops have been distributed to eligible USDe holders on Pendle via the Mantle network.
This airdrop marks the completion of two major phases of EIGEN's airdrop distribution. The first and second phases have distributed a total of 2,098,636.67 EIGEN tokens.
Today, users holding eligible USDe positions in the Pendle pool via the Mantle network can see the total rewards in their Ethereum wallet.
Read Also: Final Qualification Page for Airdrop Grass will Launch on October 21st!
EIGEN Airdrop Distribution Details
This prize distribution includes a total of 50,000 EIGEN tokens earned through Mantle's collaboration with Pendle.
This collaboration awards daily points to users holding positions in USDe/YT-USDe pools on the Mantle network, with point accumulation taking place from April 2 to July 25, 2024.
Every day, users earn 0.0012 EigenLayer points for every USDe/YT-USDe they own.
EIGEN Airdrop: Service Fee for Pendle
One interesting aspect of Pendle's revenue model is that there is a 3% fee on all proceeds earned through YT (Yield Token).
Therefore, of the total 50,000 EIGEN tokens, 97% (48,500 EIGEN) is distributed to users, while 3% (1,500 EIGEN) is set aside for Pendle as a service fee.
This collaboration between Mantle and Pendle provides a unique opportunity for users to earn higher returns through the Pendle platform.
Read Also: Sonic Airdrop: Get 200 Million $S Tokens By Playing Sonic Arcade
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