$EIGEN "Unlocking the Power of EIGEN: The Token Revolutionizing Ethereum's Security"

The token's price has been fluctuating, currently around $3.831, with a market capitalization of approximately $725 million and a circulating supply of 186 million tokens.The EIGEN coin is a universal work token designed for the Eigen Layer platform. It plays a role in staking, validation, and penalizing operators, and is used to pay for various digital tasks, trading on multiple exchanges.

Eigen Layer, a protocol on Ethereum, introduces "restaking," where users who stake ETH or liquid staking tokens (LSTs) can opt to restake them through EigenLayer smart contracts, extending security to additional applications for extra rewards. EIGEN complements ETH restaking by managing "intersubjective" faults—actions that aren't easily identified on-chain but still deserve penalties. Token holders can stake EIGEN to secure the EigenDA network and other Actively Validated Services (AVS) that accept it as collateral. It also serves as a governance tool for the platform.