Will we see a re-restaking? LRRT?
Disappointed in $EIGEN
While the long awaited altseason didn't arrive, the restaking protocols fell by up to 50% after $EIGEN airdrop announcement
All these in the midst where market is bleeding and we're seeing the classic sell the news event
All these combined with the fact that there's inherent risk brought in by Eigen's restaking concept and the mountain heaps of projects building on it sounds like what would turn out like a Luna debacle.
Though I like to think that it isn't but its showing signs similar to that of DeFi's yield farming with layers upon layers.
It's still too early to say for sure because we are probably midway through bull and the cards usually fall way after that with serious liquidity crunchtimes.
But I don't like it when after reading 43 pages of @eigenlayer's white paper only to find that they have 2 tokens $EIGEN and $bEIGEN where the latter is being used for actual staking. And in my nothing better to do times, we also say $LUNA and $bLUNA, uncanny resemblance...
Tokenomics $EIGEN:
- 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% to team/ early contributors
- both of total 55% are subject to 1-year cliff + 2-year vesting
Initial float seems ~5%
And looks like for both @pendle_fi and @GearboxProtocol users will get their full point values pre-March 15th and everything else will be s2. Thanks to @Rightsideonly for the frequent update and @PendleIntern for the analysis.
Nonetheless, I am still pretty certain that $EIGEN have some good times to enjoy so lets make the best use of it while we can.
