We talked a few weeks ago about how the reaction to EigenLayer’s EIGEN airdrop saw the amount of queued withdrawers on the platform shoot up.

While there were some points of contention about the airdrop, including VPN restrictions and the initial period of non-transferability imposed on the tokens, the Eigen Foundation came out a few days later to both expand airdrop allocations and clarify some of the timing around the token unlocks and transferability going forward, which helped calm some fears.

It is possible some users who had only deposited into EigenLayer to farm the airdrop were also content to exit the platform in the wake of the snapshot being taken, not only users being mad about the initial EIGEN reveal.

However, we now see the actual impacts of that …