Tokens from EigenLayer, an Ethereum restaking protocol, are set to be unlocked for trading soon, nearly five months after the first tokens were airdropped to early users.
The Eigen Foundation, the organization behind the Risk Protocol, said On Twitter (also known as X), EIGEN will unlock late Monday at 9pm PT, aka 12am ET Tuesday.
Binance, the world's largest cryptocurrency exchange, announced today said The company plans to list tokens that will be traded in pairs with other cryptocurrencies. Bitcoin and tetherby tomorrow. Bitfinex too announced It will become one of the first major exchanges to list this token tomorrow.
EIGEN will start with a total supply of just over 1.67 billion tokens, but a dynamic supply (similar to Ethereum) means the supply will eventually increase. As of this writing, EIGEN's futures contract is trading at a price of $4.03 via Aevo, giving EIGEN an estimated fully diluted valuation (FDV) of over $6.7 billion.
toeThe idea behind this project is to make EIGEN available to ecosystem partners and the protocol community through two main methods. air drop this year. In total, approximately 200 million EIGEN will be distributed through these two drops, representing the expected initial circulating supply of the token.
lamina propria A project that allows users to stake across multiple blockchains. In the world of cryptocurrencies, staking This is the process of providing digital assets to the network to keep it running. Users earn rewards for doing so.
Defilama data show The total amount locked up in this project is almost $12 billion. Here are the top crypto networks Ethereum, Polka dot patternand cardano Both require users to stake their holdings in order to work.
EigenLayer that runs on Ethereumwe want to allow cryptocurrency users who are staking ETH to use the same Securely stake your assets on other protocols.
Edited by Andrew Hayward
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