EigenLayer's Token Launch Draws Scrutiny Over Supply Concerns
EigenLayer's EIGEN token launched with an initial price surge, followed by a 22% decline from its peak. The total supply is fixed at 1.68 billion, with a circulating supply of 186 million, resulting in a fully diluted value of $5.8 billion and a market cap of $650 million. Concerns arose over transparency regarding locked tokens belonging to early investors from funding rounds. Currently, 130 million EIGEN tokens are staked, but 70 million are from early investors, leading to dissatisfaction among community members. Recent updates indicated that these investors can stake their tokens without restrictions, raising further concerns about fairness in rewards distribution. EigenLayer allocated 86 million tokens to early adopters, prompting criticism over unequal reward distribution. EIGEN traded at $3.57 after peaking at $4.39.
