Eclipse Launches $ES Token Airdrop Distributing 15% of Supply

Eclipse, a layer 2 network that integrates technology from both the Ethereum and Solana blockchains, has announced the launch of its $ES token airdrop. The airdrop, which began on Wednesday, will distribute 15% of the total token supply over the next 30 days. The total supply of $ES tokens is 1 billion, with the initial distribution phase set to conclude within a month.

The airdrop is part of a broader token allocation strategy. The 15% allocated for the airdrop and liquidity provisions is intended for core community members and developers who have been instrumental in supporting the network from its inception. Additionally, 35% of the token supply is earmarked for ecosystem growth and research and development, aimed at scaling the network. Contributors, including team members, will receive 19% of the supply, with a four-year vesting period and a three-year lockup schedule. The remaining 31% is reserved for early supporters and investors, who are subject to a three-year lockup schedule to ensure long-term commitment to Eclipse’s roadmap.

The $ES token serves multiple purposes within the Eclipse network. It functions as the gas token for the Eclipse chain, facilitating transactions and operations on the network. Additionally, it enables decentralized governance, allowing token holders to vote on key protocol upgrades and fee structures, including Maximal Extractable Value (MEV) redistribution rates. The team behind Eclipse has emphasized that the token’s utility is expected to evolve over time through its decentralized governance model.

The Eclipse network officially went live in November 2024, but its launch was marred by controversy. Neel Somani, the co-founder and former CEO of Eclipse Labs, was removed from the company in May 2024 following allegations of sexual misconduct on X. Further controversy arose in July when an investigation revealed that Somani had secretly allocated a significant portion of the $ES supply to a partner at Polychain. This deal has since been terminated, according to a spokesperson for Eclipse.