Layer 2 network Eclipse Labs issued its ES token during an airdrop. The asset’s price fell by 21% within three hours of launch.
Eclipse's total native token supply is 1 billion ES. Of that, 10% (100 million tokens) is allocated for distribution among early users. The remaining tokens will be distributed as follows:
350 million (35%) — for ecosystem development
310 million (31%) — to investors and sponsors
190 million (19%) — to the team and future employees
50 million (5%) — for liquidity on cryptocurrency exchanges
The airdrop began on July 16 and is scheduled to last for 30 days. All wallets that meet the eligibility criteria can claim the airdrop.
How the ES Launch Went
The ES token was deployed on three networks: Eclipse, Ethereum, and Solana. It is intended to be used for paying transaction fees and governing the protocol.
The token was listed on major exchanges, including Bitget, MEXC, Bybit, and Gate.io. According to CoinGecko, ES's market capitalization reached $58.1 million within three hours. At the time of writing, the token is trading at $0.3916, which is 21.7% below its launch price.
Community Backlash
Many users expressed disappointment with the ES launch. Some accused Eclipse and NFT project ASC of unfair token distribution and even “betraying the community.”
“Eclipse recently airdropped 2,551 $ES tokens to participants of a meetup held in Seoul, and ASC holders were only allocated 330 $ES tokens.,” wrote a crypto investor using the name Glenfiddich.
He pointed out that Alucard_eth, Eclipse's community leader and a co-founder of ASC, explained this imbalance by citing the original ASC mint price of 0.04 ETH. However, Glenfiddich claimed that in January 2025, Alucard_eth had encouraged people in Discord to sell PENGU and buy ASC at 0.548 ETH — a much higher rate.
As a result, users who bought ASC at its peak allegedly received airdrop rewards based on outdated prices. According to Glenfiddich, these actions by Eclipse and ASC undermine trust and are harmful to the broader Web3 ecosystem.
Another user, known as ApexV, added:
“Investors put in a lot of money but got pennies.”
About Eclipse Labs
Eclipse Labs was launched in 2022. The project's aim is to combine Ethereum’s robust security with Solana’s high-speed performance, creating a scalable foundation for decentralized applications and blockchain infrastructure.
