Eclipse, the layer 2 that combines technology from the Ethereum and Solana blockchains has gone live with an airdorp of its $ES token.
The team behind the network shared that the initial distribution will occur over the next 30 days.
Contributors will receive 19% of the supply, including team members,with a four year vesting period and three year lockup schedule. The remaining 31% is for early supporters and investors, who are subject to a three year lockup schedule in order to commit with Eclipse’s roadmap long-term.
The team also said that the $ES token serves several purposes on the network. It acts as the gas token for the Eclipse chain, and it also enables decentralized governance. Token holders will be able to vote on key protocol upgrades and fee structures, such as Maximal Extractable Value (MEV) redistribution rates. The team also emphasized that the token’s utility may evolve over time with its decentralized governance.
