EigenLayer, a restaking protocol, has announced the launch of its native token, $EIGEN, with significant attention from the crypto community. The token, described as the 'Universal Intersubjective Work Token,' aims to complement Ethereum and introduces innovative tokenomics. $EIGEN will initially be non-transferable, with a total supply of 1.67 billion tokens. The community is allocated 45% of the total supply, with 15% each going to stakedrops, community initiatives, and ecosystem development. The first stakedrop represents 5% of the total supply, based on a snapshot taken on March 15, and is 90% immediately claimable. The Eigen Foundation has also scheduled a livestream to cover details about the token, featuring EigenLayer founder Sreeram Kannan and Eigen Foundation Director RJ Droste. The token claims will start on May 10, as announced on EigenLayer's official website. The FDV is projected at $10B with 15% of tokens airdropped to stakers over multiple seasons.
Mixed EIGEN Feelings Not everyone is happy with the new EIGEN token plans Our analysis of why 👇 https://t.co/2AxBBiK4yN
Made a tokenomics pie for $EIGEN because the docs sucked. 45.0% - Community (15/15/15) 29.5% - Investors 25.5% - Early Contributors If you take the numbers and apply the current PERP-EIGEN price on Aevo (~$10.20) the implied FDV is ~$17b, placing it 13th overall, just behind… https://t.co/juusWEX7KX
From what I see, $EIGEN seems to be like an alt-L1 token It has its own social consensus, doesn't interact with restaked ETH as ETH isn't used for non-objective work (only $EIGEN). Chain forks are replaced with token forks but it's essentially the same mechanism (slashing for… https://t.co/imy3rIbN8A
Me and @gajeshnaik are starting a new technical interview series with teams building on @eigenlayer - Infinite Layers ♾ First episode is Friday May 3 9:00am PT with @alt_layer! Streaming on X or RSVP and join the live chat here: https://t.co/0FhkKawQeU
Eigenlayer Season 1 represents 5% of supply. Let's assume Eigen goes to market at $10B FDV, so $500m in tokens is getting dropped to ~$16 billion in restaked $ETH. So forgetting time, APY, etc. restakers on avg are getting 3.1% return on their capital? Am I getting this right?
Why isn't EIGEN transferable? . Enhanced Profitability: Intersubjective profit taking requires tokens only unlocking after developers and VCs have time to cash out. https://t.co/OHsr1mYwmi
Once past the EigenLayer fud, what to do with your tokens if you are eligible? As a reminder, the $EIGEN claim starts on May 10th, it's high time to think about strategies. A thread 🧵👇 https://t.co/XNCSXtZCGH
Simplification of $EIGEN Token Whitepaper 1. $EIGEN Token Overview • Total Supply: 1.67B • 45% to community: 15% to each of stakedrops, community initiatives, and ecosystem development, respectively. => Out of 15% stake drops, 5% based on a snapshot on 15 March (90%… https://t.co/ypRX9AobWB
Congrats on Eigenlayer, everything is perfect in terms of team, fundamentals (modular, restaking, AVS), TVLs, let’s make Ethereum great again🫡 https://t.co/o3kn9mxDk9
0/ By community request, Hyperliquid has listed $EIGEN-USD hyperp. You can now long or short the unlaunched Eigenlayer token with up to 3x leverage. https://t.co/zAn4GC5qfR
with eigen tokens being non transferable under the team’s discretion what happens to everyone who traded eigen points on whales? just at the mercy of the eigen team?
.@eigenlayer: actually tries to innovate while remaining compliant, offers people an additional ~100% APY on their staked $ETH CT: 'i restaked .1 ETH for 2 weeks why can't I retire yet'
Assuming you staked in December 2023, you received about 50 eigen tokens per ETH deposited. ETH was around $2,200 then. At $10 per token that's $500 per ETH, or about 23% of your initial. ETHBTC is down about 5% since 12/23, so this was a way to outperform BTC passively at size
$EIGEN perps cresting the $10 mark on @aevoxyz. How are your allos looking? https://t.co/86qDNgORd3
>Eigenlayer team drops innovative and novel $EIGEN token >CT being toxic af because they round tripped all their gains on this market downturn Never change fellas
~50 points per $EIGEN $EIGEN at $9.5 on @aevoxyz $0.19 per March 15th Eigen Point? I think $EIGEN has room to pump if they can fix PR https://t.co/CrtNYuESSA
current rage with eigen pretty unfounded and shows a bit of whats wrong with the current enviroment. expectation of massive profit from pretty marginal activity and just mass anger when expectations aren't fully met. I don't think anyone from the team shilled the token itself…
Eigen Layer @eigenlayer let’s you think outside the block. We are not a blockchain, we inherit a subset of the security of Ethereum by renting decentralized trust thanks to Eigen Layer. We are a verifiable proof verification layer that posts results into DA layers (that are a…
Read the eigenlayer whitepaper, I don't understand how they think they solve the Augur parasite problem. Does anyone know what their solution is? Also what do you do about the economic security bound, ie it seems like you can only secure half the value of the EIGEN token? https://t.co/JnW4ovdpHc
Current state of the market $EIGEN https://t.co/BfCbwtYqJV
If you're wondering what EIGEN is, it's literally the exact same thing as any other gov token except here your tokens can be slashed if you vote on the wrong side of a DAO proposal
YEAH IT'S CALLED EIGENLAYER AND EIGEN LABS FINALLY TURNED THE EIGENPOINTS INTO EIGENTOKENS BUT THEN LOCKED THE EIGEN TOKENS AND MADE IT SO NO ONE COULD CLAIM THEM SO ITS LIKE THEY FARMED THEIR USER BASE TO BOOST METRICS AND THEN ABANDONED THEIR CORE COMMUNITY https://t.co/2XqFZNxC4A
Ok I'll bite, what is Eigen?
Alright, found just shy of 25 million Eigenlayer tokens in some old wallets, and will use it farming Eigen projects. I've always supported the Eigen dev community, but, have felt there is a lack of useful things to do, and a huge lack of transparent open source.
Can someone ELI5: is the "social consensus of EIGEN" simply the EIGEN token holders? If so, then is this construction equivalent a governance token that can be used for restaking to provide economic security to non-objective AVS's with slashing by the holders?
EigenLayer just announced $EIGEN Here's how to get ready for this highly anticipated stakedrop! An ELI5 🧵: https://t.co/Bjpy7EmVLG
What does $EIGEN FDV need to be for Eigen Stakers to make more than 5% APY given that they're only getting 5% of the supply?
EIGEN Token TLDR (probably one of the most interesting design for a while!). It is a forkable token design that try to solve 3 big problem all together, the 3 problems are: Programmable Trust, Capital Efficiency, and the Risk of Overloading ETH Social Consensus. @sreeramkannan
every eigenlayer private investor writing threads on how revolutionary the token is (and why you should buy it). every eigenlayer user complaining. lesson in there
🚨CONTROVERSY SURROUNDS $EIGEN TOKEN ANNOUNCEMENT - LIKES OF PENDLEFI 'RUGGED'🚨 “A lot of people are going to be upset” ~ @BlurCrypto - @EigenLayer has just released the official whitepaper for its hotly-anticipated $EIGEN token - But not everyone is happy to say the least. -… https://t.co/mtMxKPGg36 https://t.co/uEPRxNXTg9
if you thought you knew eigenlayer, that just changed. to date, excitement was around major protocols using restaked eth to bootstrap more easily. it turns out, it's way bigger than that. it's a way for protocols to exist that couldn't otherwise. 1/15 https://t.co/bVGe0M8e7R
The team behind restaking protocol EigenLayer dropped a white paper for a native token https://t.co/QMZulIItj1
"EIGEN is the Universal Intersubjective Work Token, complementing ETH as the Universal Objective Work Token in EigenLayer." Who the fuck wrote this? https://t.co/GnGUdcVfiP
NEW: Eigen Foundation officially unveils $EIGEN and associated documentation. https://t.co/sKHRbrsJqV
What we know about $EIGEN 1️⃣ 15% token supply allocated to airdrops 2️⃣ 5% for first season 3️⃣ 📸 Snapshot taken March 15 4️⃣ 🪂 Claimable on May 10 5️⃣Eligibility checker is live ⬇️⬇️ https://t.co/Pw9emXTBRO 6️⃣ Eigen has a valuation in the Billions & funded by Tier 1 VC’s. https://t.co/9r7anqWt8R
$EIGEN claimable in 10 days. Check allocation https://t.co/RdoSRu5LGp https://t.co/bpPC1bg27o
Introducing the Eigen Foundation, EIGEN token, and Season 1 Stakedrop! https://t.co/lxEVSbRfVB
Eigen token "Non-transferable tokens" So tradeable points lol.
That said what’s your $EIGEN price target ? https://t.co/qC2HpT7PE5
I was worried the $EIGEN launch would be sell the news for ETH given the lack of "real" yield for ETH restakers from AVS's. By pumping the token and introducing points, they're creating a new 3,3 game (schelling point) for ETH maxis High FDV = bullish ETH Low FDV = bearish ETH https://t.co/vNHimTLjGs https://t.co/EJJi3SObb0
Tokenomics $EIGEN TLDR: - total supply 1.67B - 45% to community: 15% to each of stakedrops, community initiatives and ecosystem development, respectively - out of 15% stakedrops, 5% based on a snapshot on 15 Mar this year (90% immediately claimable) - 29.5% to investors - 25.5%…
eigen token will be non-transferable initially??? 😂 https://t.co/6YlQ7tVBbE
$EIGEN in 11 days. 15% airdropped to stakers over multiple seasons. My guess is 3x5% but let's see. https://t.co/8zdmdUJAP6
LIVESTREAM -- $EIGEN Announcement 🪂 w/ @eigenlayer Founder @sreeramkannan & @eigenfoundation Director @rjdrost Covering everything you'll want to know starting at 4pm EST ⏰ Set a reminder below 🔔👇 https://t.co/P2GVWNlH4I https://t.co/OxROKshSOh
Looks like 5% $EIGEN FDV May 10th, but some funky tokenomics? Watch announcement here: https://t.co/ST0UAClnTA I think $30bn FDV totally reasonable, if not bearish. LOVE TO SEE IT https://t.co/4YBI3OmH8U
$EIGEN: The Universal Intersubjective Work Token Sounds so right-curve and expensive. The name alone should increase the valuation by extra $10b 😅 https://t.co/Dh2cIJs8Et
LIVESTREAM -- $EIGEN Announcement 🪂 w/ @eigenlayer Founder @sreeram & @eigenfoundation Director @rjdrost Covering everything you'll want to know starting at 4pm EST ⏰ Set a reminder below 👇 https://t.co/t1Avneq2Gh https://t.co/OxROKshSOh
I just read the EIGEN token whitepaper. New terms around "intersubjectivity" are revolutionary. I've summarized everything you need to know about the premier restaking platform on Ethereum below...👇
NEWS: Eigenlayer Token Claims From May 10, per website (h/t @News_Of_Alpha) https://t.co/UnW6siuA2y
This is a common but basic misunderstanding of the AggLayer. It’s not an L2. To see why: consider a chain that uses EigenDA for DA, a shared proving marketplace for proof generation, and a shared sequencer/proposer. Would you call this chain an L5? This isn’t a useful framework… https://t.co/bd4l6Xg4qX
smells like $EIGEN to me just sayin https://t.co/VJ75635itf
EigenLayer will have a token EigenDA will have a token Everyone is focused on the former, the latter should also have an FDV of $10B (currently Celestia) EigenLayer stakers should do well.
There is no EigenLayer token… Yet. https://t.co/ysdsdHVX8z