๐ข Eigenlayer, the restaking protocol amassing $15.7 billion in deposits, unveiled its token whitepaper, confirming plans for an EIGEN token.
๐ The Eigen Foundation, supporting the protocol, detailed a total supply of about 1.67 billion EIGEN tokens, with 45% allocated to the EigenLayer community.
๐ This 45% is split into three subgroups: stakedrops, future community initiatives, and ecosystem development, each receiving 15%.
๐ In the inaugural "stakedrop" season, Eigen Foundation will distribute 5% of the token supply to users based on their staking activities from March 15. Claiming for these EIGEN tokens opens on May 10 and closes after 120 days.
๐ผ Investors will receive 29.5% of the token supply, while 25.5% goes to early contributors, both with a three-year lock period.
โฐ Users can secure EigenDA, Eigenlayerโs Actively Validated Service (AVS) for data availability, with their EIGEN tokens at launch. Other AVSs are expected to follow.
๐ EigenLayer represents a new trend called "restaking," where usersโ ETH tokens deposited as security on Ethereum can be repurposed to secure additional networks or protocols, collectively known as AVS networks on EigenLayer.
