In the cryptocurrency industry, there was the recent Airdrop Fiascos. This situation overshadowed the launch of the project’s tokens, but Eclipse Labs has taken some precautions for future ES token airdrops.
Eclipse Labs has banned team members from participating in future ES token airdrops, Block reports.
Airdrop ban has arrived!
Eclipse Labs, Ethereum (ETH)’s layer-2 scaling solution, has banned team members and employees from participating in future ES token airdrops.
The move by Eclipse Labs was reported to be planned to prevent insider sales, which has been affecting the market recently.
Eclipse Labs said it had signed an agreement that prohibits airdrop requests and requested that all employees be excluded from all wallet addresses, including test wallets.
“Eclipse Labs employees have signed documents prohibiting requests for airdrops and provided all addresses (whether used for testing or not) to rule out the possibility of airdrop participation.”
Eclipse also noted that the ES tokens and investors assigned to the team will be subject to a lockup period one year after the IPO, and that the three-year vesting period will last.
“All employee and investor allocations will be locked for one year after the public listing and gradually unlocked over three years.”
The project has raised approximately $65 million in total funding so far, but has yet to set a specific date for the ES token airdrop.
*This is not investment advice.
