Eclipse, Layer 2, combining technology from Ethereum and Solana Blockchains, has gone live with an Airline of his $ es token.
The team behind the network shared that the original distribution will occur over the next 30 days.
According to a press release shared with Coindesk, a total of $ 1 billion has been marked. The supply is awarded 15% to an air drop and liquidity provisions for core communities and developers who have supported the network from the start. 35% will support the growth and research and development of the ecosystem with the aim of helping to scale the network.
Contributors receive 19% of the supply, including team members, with a four -year vesting period and three -year lockup plan. The remaining 31% are premature supporters and investors who are subject to a three-year lockup timetable to commit with Eclipses Roadmap in the long term.
The team also said the $ es token is serving several purposes on the network. It acts as a gas token for the eclipse chain, and it also enables decentralized control. Token holders will be able to vote on key protocol upgrades and fee structures such as maximum extractable value (MEV) Redistribution speeds. The team also emphasized that token’s tools can develop over time with its decentralized governance.
The Eclipse network went alive in November 2024, but not without any controversy. Neel Somani, Eclipse Labs’ co-founder and former CEO, was exposed to the company in May 2024, after he received some allegations of sexual mismatch against him on X. Further controversy came in July when a Coindesk investigation revealed that Somani had secretly assigned an etch size of the $ ES-Supply to a partner by polychain. This agreement with the Polychain partner no longer exists, a spokesman at Eclipse told former Coindesk.
Read more: VC Darling Eclipse finally debuts its Solana-Ttherum Blockchain Hybrid
