EigenLayer Launches Native Token Eigen with 1.67 Billion Tokens Supply
EigenLayer, a re-staking protocol, has unveiled the introduction of its native token, Eigen, to be distributed by the Eigen Foundation. The token distribution encompasses an airdrop for those staking on the platform, featuring 15% of the tokens earmarked for the community. This community allocation is further divided into stakedrops, community initiatives, and ecosystem development. EigenLayer aims to secure third-party networks or validated services with the staked ether. The Eigen token will have a total supply of 1.67 billion tokens, with 45% of them allocated to the community. The airdrop, referred to as a stakedrop, will distribute tokens to users based on a snapshot of staking activities.
Key Takeaways
- EigenLayer's launch of the native Eigen token includes a total supply of 1.67 billion tokens.
- 45% of the tokens are designated for the community, with 15% allocated for stakedrops, 15% for community initiatives, and 15% for ecosystem development.
- Investors and early contributors have 29.5% and 25.5% of the tokens respectively, both locked for three years.
- EigenLayer plans to execute a community airdrop – referred to as stakedrop – distributing 15% of the tokens to platform participants across several seasons.
- Eigen token can be staked on EigenDA and future AVSs, with non-transferable tokens in the initial phase to facilitate decentralization and consensus building.
Analysis
The launch of EigenLayer's native token Eigen could potentially have an impact on venture capitalists, early contributors, and the crypto community as 45% of the tokens are allocated to the community. The three-year lockup period for tokens designated to investors and early contributors signifies a long-term commitment.
The Eigen airdrop (stakedrop) is expected to incentivize staking, promoting platform usage. Furthermore, the initial phase's non-transferable tokens aim to support decentralization and consensus building. The future prospect of Eigen staking on EigenDA and future AVSs denotes the platform's growth and an expanding ecosystem. Organisations focusing on staking, decentralized finance (DeFi), and smart contracts may experience heightened interest or collaboration opportunities.
In the short term, this launch may generate hype and bolster the token's price. However, the long-term implications will largely rely on the network's success, regulatory environment, and potential adoption by DeFi platforms and other projects seeking secure staking services.
Did You Know?
- EigenLayer: A re-staking protocol that secures third-party networks or services with staked ether, aiming to foster decentralization and consensus by using non-transferable tokens in the initial phase.
- Eigen Token: EigenLayer's native token with a total supply of 1.67 billion tokens. Token allocation includes 45% for the community, 29.5% for investors, and 25.5% for early contributors, all subject to a three-year lockup period.
- Stakedrop: An EigenLayer community airdrop where 15% of the total tokens are distributed to platform participants based on a snapshot of staking activities on the platform. Stakedrops will be carried out across multiple seasons.