EigenLayer, After Touching Off Restaking Frenzy, Plans Own EIGEN token
Eigenlayer, a restaking protocol with $15.7 billion in deposits, has released its token whitepaper, outlining plans for an EIGEN token. The Eigen Foundation, the non-profit supporting the protocol, states there will be a total supply of about 1.67 billion EIGEN tokens, with 45% allocated to the EigenLayer community. This 45% is divided into three subgroups: stakedrops, future community initiatives, and ecosystem development. In the first "stakedrop", 5% of the token supply will be distributed to users based on their staking activities from March 15. Investors will be allocated 29.5% of the token supply, and 25.5% will go towards early contributors, both with a three-year lock period. Upon the launch of the EIGEN token, users can secure EigenDA, Eigenlayer’s Actively Validated Service (AVS) for data availability, with their EIGEN tokens.
