š»EIGEN in numbers:
š¢Total Supply ā 1.67B EIGEN
š¢Circulating Supply ā about 197M EIGEN (12%)
š¢S1 Airdrop ā 113M OWN (6.7%)
š¢S2 Airdrop ā 86M EIGEN (5.15%)
š¢Unclaimed Tokens ā 35M EIGEN
š¢Staked Tokens ā 95M OWN
š¢Pre-Market Price ā $4 BY OWN
š¢FDV ā $6.7B
š¢Market Cap ā $788M (197M * $4)
š¢Liquid circulation (if tokens are not unstaked and drops are not branded):
267M * $4 = $268M
Expected inflation next year:
66,945,866 OWN
4% VAT
32% Circulating Supply
Competitors:
At the moment, without tokens, but in order not to leave an empty field, we will highlight:
LRT ETHFI:
VAT ā $1.8B
Market Cap ā $380M (19%)
EIGEN utility:
The main utility is staking for an additional layer of protection (L2). Some AVS can use it instead of re-staked ETH or in combination, thanks to additional cases.
The basic purpose is similar to the re-staked ETH, but there is an additional aspect.
Objectively Attributable Faults: These can be pre-programmed via smart contracts, and if the rules are violated, slashing will occur as usual.
Intersubjectively Attributable Faults: These are violations that cannot be automated in smart contracts. The decision on whether a violation has occurred is made by social consensus. If EIGEN stakers decide that there has been a violation, the token will fork. All stakers will receive the new token except for the violators, who will be left with a wrapper (the old token).
Since EIGEN will be used in DeFi, there will be two types of tokens:
bEIGEN is a forkable, staked token.
Unglazed EIGEN does not fork and retains its value.
What to do with tokens:
Evaluate the market. Now, in my opinion, this is a "risk on" period, so do not rush to sell.
Check your portfolio. If you are more than 70% in ETH and its ecosystem, consider whether you need another project from ETH eco?
The circulating tokens mostly came via airdrop, like with W - this is not always good. But keep in mind that time has passed since the EIGEN stamp, weak hands have already sold or hedged.
I don't plan to buy more EIGEN unless the chart shows an interesting signal.
I will not sell EIGEN below $6 (~$1B MC).
The resulting stables will be sent to meme/AI projects, where I think you can get more x's than from the EIGEN hold
