The Eigenlayer team launched a claims process for its highly anticipated EIGEN token, but it won’t be transferable to others until further features are added.
EigenLayer Opens Claims for Airdrop of EIGEN Token, Though It’s Non-Transferable
Perpetual futures markets price the fully diluted value of the token at around $15 billion.
EigenLayer’s EIGEN Airdrop Might Signal Demise of Once-Popular ‘Points’
EIGEN’s airdrop comes after a wave of criticism of its distribution plan and points program.
Thiel-Backed Cryptography Startup Lagrange Raises $13M
Lagrange, which specializes in zero-knowledge cryptography, is the latest startup to ride EigenLayer’s “restaking” wave.
Ethereum L2 EigenLayer is last of ‘life-changing airdrops,’ experts say
Issues such as community discontent, farm accounts and restrictive criteria have plagued recent airdrops.
EigenLayer to cough up around 28M more EIGEN after airdrop backlash
EigenLayer is handing out an extra 100 to 110 EIGEN to 280,000 qualifying wallet addresses after criticism over its first airdrop.
Friend.tech v2 airdrop could introduce non-transferable token
Making the token non-transferable could force users to pay the 1.5% Friend.tech platform fee in an “ironic” shift from the platform’s non-venture capitalist approach.
The Protocol: EigenLayer’s ‘Intersubjective Forking’ Is Objectively Not Done
Much-hyped restaking project EigenLayer’s 43-page whitepaper about its now-revealed EIGEN token has raised lots of questions. They may not matter initially, because much of the promised functionality won’t be ready when the token launches.
Restaking ‘Gold Rush’ Spreads to Solana From Ethereum, With Jito and Others Joining In
Restaking has taken hold of the Ethereum ecosystem. With Jito and a handful of other companies building for Solana, can the trend spread?
Why Eigenlayer’s Airdrop Is Controversial
Although it’s actually conservative.
EigenLayer users fume over restrictive airdrop, others say it’s ‘generous’
Ethereum restaking protocol Eigenlayer has promised to allocate 15% of EIGEN supply to the community, but not everyone was happy about it.
EigenLayer Makes A Big Splash With EIGEN Token Launch And Major Airdrop Plan, Get The Full Scoop!
EigenLayer, a decentralized restaking protocol built on Ethereum (ETH), has made significant announcements, paving the way for new developments within the crypto ecosystem.
The protocol unveiled its native token, EIGEN, which the newly formed Eigen Foundation will distribute. Alongside this, EigenLayer introduced a major plan for an airdrop and released a comprehensive new Whitepaper.
EigenLayer Unveils EIGEN With Novel Mechanism
According to the protocol’s announcement, the introduction of the EIGEN token brings forth a complementary mechanism designed to address “intersubjective” faults, which cannot be resolved through ETH restaking alone.
By expanding ETH restaking, EigenLayer positions ETH as the Universal Objective Work Token, while the universality of EIGEN makes it the Universal Intersubjective Work Token. EIGEN’s universality is reportedly aimed at allowing it to fork and slash for intersubjective errors committed by EIGEN stakers in any AVS (Automated Verification System) within the protocol.
To ensure widespread adoption of EIGEN across applications, EigenLayer has designed an application-independent mechanism to maintain the system’s cryptoeconomic security.
In EigenLayer, EIGEN staking and ETH restaking play complementary roles. EIGEN addresses safety properties through objective slashing, and ETH restaking ensures liveness and censorship-resistance properties dependent on stake decentralization.
The launch of EIGEN also introduces intersubjective staking, marking a significant milestone for the protocol and the Ethereum ecosystem. However, due to its newly introduced design, the concept requires widespread adoption and discussion among ecosystem participants.
At launch, the Eigen token will have a total supply of 1.67 billion tokens, with the Foundation allocating 45% of the tokens to the community. This allocation is further divided into staked drops, community initiatives, and ecosystem development.
Investors will reportedly receive almost 30% of the tokens, while early contributors will receive over 25%. Both these groups are subject to a three-year lockup period for their allocations.
A complete lock will be in place during the first year, followed by a gradual release of their total holdings at a rate of 4% per month over the subsequent two years.
EIGEN Token Launches Meta-Setup Phase
While the initial implementation of intersubjective staking at launch mirrors only a limited extent of the full protocol, several parameters still need to be determined for its full actuation.
To address this, EIGEN is being launched in a meta-setup phase, serving as a call to action for researchers, experts, and the broader community to engage in public discourse.
As EigenLayer announced, this collaborative effort aims to help define the necessary parameters to make the protocol and its interaction with the rest of the Ethereum ecosystem as effective as possible.
Featured image from Shutterstock, chart from TradingView.com
Eigenlayer releases EIGEN white paper, bans airdrop for US users
The EIGEN token will be used to form consensus around data that is off-chain but easily verifiable, such as whether someone won a bet or adequately stored data.
EigenLayer, After Touching Off Restaking Frenzy, Plans Own EIGEN token
Some 45% of the EIGEN token supply will go towards the EigenLayer community, while investors will be allocated 29.5% of the token supply, and 25.5% will go towards early contributors.
EigenLayer-Powered Aligned Layer Raises $20M to Make ZK Proofs Faster, Cheaper on Ethereum
The fundraise was led by Hack VC and included contributions from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC and Theta Capital.
Liquid Restaking Protocol Puffer Raises $18M, Led by Brevan Howard, Electric Capital
The fresh round of capital will be used to help launch Puffer’s mainnet.
Ether.Fi Inks $500M Restaking Deal With RedStone Oracles
Under its deal with RedStone, Ether.Fi will dedicate $500 million to help secure RedStone’s data oracles, which are used to pass information between blockchains and the outside world.
The Protocol: How to Engineer Harder Money, or Just Make Your Own
Bitcoin’s supply growth is set to automatically drop by 50% when next week’s “halving” arrives, Ethereum is pondering a cut in ETH issuance, and meme coin issuers are just no-holds-barred spinning up new ones. Blockchain tech is enabling all sorts of monetary strategies.
EigenLayer, Crypto’s Biggest Project Launch This Year, Is Still Missing Crucial Functionality
The “restaking” protocol with $15 billion in deposits won’t pay rewards to depositors and is missing its mission-critical “slashing” feature.
Ethereum Could Face ‘Hidden Risks’ From Ballooning Restaking Market: Coinbase
Restaking has grown into the second-largest DeFi sector on the Ethereum blockchain and is likely to become a core part of the network’s infrastructure, the report said.
