#ChartoftheDay #EigenLayer 's #eigen token will become claimable today. According to tokenomics, 45% of the 1.67 billion coins will go to the community, of which a third will go to “stakedrops”, another third will go to community initiatives and the last third will go to R&D and ecosystem development. Investors hold 29.5% of the supply, while early contributors own 25.5%, both subject to a three-year lock-up period, with a full lock in year one, followed by a linear unlock of 4% of their total allocation.

Of the 15% supply allocated for stakedrops, only 5% is marked for the Season 1 stakedrop. The snapshot date will be March 15. 90% of Season 1 will happen in Phase 1(now) and the last 10% will happen in about 1 month in Phase 2 and be distributed to users who had complex interactions with their LRTs. The EIGEN token will also have an initial non-transferable period.

The community perceived the distribution plan negatively because they considered the fraction allocated to stakers to be too small compared to that of the team and investors and the allocation of Phase Two insufficient for points farmers in Pendle and similar protocols.

According to Eigenlayer’s token whitepaper uploaded to GitHub last week, EIGEN is a universal intersubjective “work token.” “Work tokens refers to a token that needs to be staked to perform some work. Work tokens are employed by many existing proof-of-stake blockchain platforms to perform validation in the blockchain…Works tokens are used not only as entry conditions for performing digital work but also for punishing non-compliant workers through a cryptoeconomic mechanism called slashing.”

The whitepaper explains that restaking expands the scope of ETH beyond the limitations of work tokens and allows it to become a “universal” objective work token so that it can be staked to participate in all kinds of tasks. Meanwhile, EIGEN serves a fully complementary role to ETH with ETH staking powering objective fault slashing and EIGEN staking powering slashing for intersubjective faults.