Eclipse Launches $ES Airdrop, Distributing 15% of Token Supply

Eclipse, a layer 2 blockchain that combines Ethereum and Solana technology, has launched its $ES token airdrop, distributing 15% of the total supply of 1 billion tokens to core community members and developers over the next 30 days. The $ES token will serve as the gas token for the Eclipse chain and enable decentralized governance, allowing token holders to vote on protocol upgrades and fee structures. 35% of the tokens are reserved for ecosystem growth and R&D while 19% is reserved for the team and other contributors, who are subject to a four year vesting period with a three year lockup schedule. The remaining 31% is allocated to early investors, subject to a three-year lockup. The Eclipse network launch in November 2024 follows some controversy, including the ousting of former CEO Neel Somani, and issues regarding token allocations.