- The Eigen Foundation will distribute the native token that EigenLayer released.
- Participants in the ecosystem will receive 15% of Eigen tokens over the course of several seasons.
Protocol for retaking In May, EigenLayer will debut a native token, which will be distributed through an airdrop for platform staking users.
According to a release, the independent non-profit Eigen Foundation will be the one issuing the token.
At launch, there will be 1.67 billion Eigen tokens available. Forty-five percent of the tokens are owned by the foundation’s community. Stakedrops (15%), community activities (15%), and ecosystem development (15%) make up the remaining categories.
Moreover, investors will receive 29.5% of the tokens, with the remaining 25.5% going to early donors. There is a three-year lockup period for investors and early contributors’ allocations. There is a full lockdown for the first year, and then over the next two years, their whole holdings are released gradually at a rate of 4% each month.
With the goal of allocating those ether money to safe third-party networks or actively vetted services, EigenLayer is a platform that allows users to deposit and “re-stake” ether from a variety of liquid staking tokens. There had been $16 billion worth of ether invested on it since its introduction in June of last year.
Today, the group also unveiled a whitepaper that details the Eigen token’s composition and its place in the EigenLayer ecosystem.
15% of the token supply will be distributed to participants in the community airdrop, which EigenLayer is calling a stakedrop since users can stake Eigen tokens to protect EigenDA and future AVSs. Throughout several seasons, these tokens will be given out.
Users will receive 5% of the token supply in the first season from the foundation, which will be determined by a snapshot of staking activity taken on March 15, 2024. 90% of the tokens from this inaugural season’s allotment will be available for claim by qualified restakers on May 10 for a 120-day period. A month later, in the second part of the first season, the remaining 10% will be claimable.
However, users will be able to stake the Eigen token upon launch in order to safeguard EigenDA, the company’s data availability layer. As the project pointed out, more AVSs will probably do the same shortly.
Ten percent of the supply, which is currently being distributed to the community, has been reserved for use in upcoming seasons. It’s still unclear how to be eligible for this portion of the airdrop.
Introducing “intersubjective forking,” EigenLayer
The project is also launching inter-subjective forking, a new crypto-economic security mechanism that is intended to work in tandem with the Eigen token and supplement ether restaking.
This method is intended to handle intersubjective defects, which are malevolent actions, like data withholding in oracles built on top of EigenLayer, that are not immediately apparent on-chain.
EigenLayer’s initial idea to penalize ETH restakers for objectively recognizable on-chain conduct will not be combined with intersubjective forking. EigenLayer claims that this will eliminate the need to put undue strain on Ethereum validators.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
