{"id":7422,"date":"2024-10-17T11:01:43","date_gmt":"2024-10-17T11:01:43","guid":{"rendered":"https:\/\/predictmag.com\/blog\/?p=7422"},"modified":"2024-10-17T11:01:43","modified_gmt":"2024-10-17T11:01:43","slug":"eigenlayer-launches-eigen-token-unlock-with-7-2-billion-fdv","status":"publish","type":"post","link":"https:\/\/predictmag.com\/blog\/2024\/10\/17\/eigenlayer-launches-eigen-token-unlock-with-7-2-billion-fdv\/","title":{"rendered":"EigenLayer Launches EIGEN Token Unlock With $7.2 Billion FDV"},"content":{"rendered":"

Ethereum\u2019s restaking platform, EigenLayer, has unlocked its native EIGEN token, enabling it to be traded, transferred, and staked. Upon its release, the token performed well, debuting at $4.32, giving it a fully diluted valuation (FDV) of $7.2 billion, according to CoinMarketCap data. Nearly 43% of the trading volume occurred in the EIGEN\/USDT pair on Binance, which listed the token following the unlock at 5:00 am UTC on October 1.<\/p>\n

This unlocks also paves the way for developers to create Actively Validated Services (AVSs) supported by EIGEN staking. The protocol is set to roll out programmatic incentives<\/a> for participants who actively engage in AVS development and support.<\/p>\n

Aylo, the pseudonymous founder of Alpha Please, noted on X that the last ecosystem map he reviewed showed over 60 Actively Validated Services (AVS) being built on EigenLayer.<\/p>\n

He added that he believed the “AWS for decentralized services” would achieve a much higher valuation than what the current pre-market was reflecting.<\/p>\n

\"EigenLayer<\/p>\n

EigenLayer’s airdrop occurred in two phases: the first, Season 1, distributed 113 million EIGEN tokens to restakers, while the second, Season 2, allocated 86 million tokens, primarily to node operators and protocol participants.<\/p>\n

EigenLayer saw its activity peak in June, with just under $20 billion in Total Value Locked (TVL), as reported by DeFiLlama. However, TVL has since decreased to approximately $12 billion.<\/p>\n

The decline in Total Value Locked (TVL) can partly be explained by stakers pulling funds after becoming eligible for an airdrop. However, the protocol experienced substantial outflows following a controversial report regarding its airdrop policy.<\/p>\n

According to CoinDesk, Eigen Labs, the organization behind EigenLayer, had allegedly shared its employees’ wallet addresses with ecosystem projects planning token airdrops.<\/p>\n

In response, EigenLayer released a blog post refuting the claims, stating that the protocol had “no knowledge or evidence of any employee at Eigen Labs exerting pressure on any team for undue benefit.”<\/p>\n

Get free access to our lifetime VIP membership. Join us here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum\u2019s restaking platform, EigenLayer, has unlocked its native EIGEN token, enabling it to be traded, transferred, and staked. Upon its release, the token performed well, debuting at $4.32, giving it a fully diluted valuation (FDV) of $7.2 billion, according to CoinMarketCap data. Nearly 43% of the trading volume occurred in the EIGEN\/USDT pair on Binance, […]<\/p>\n","protected":false},"author":1,"featured_media":7424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[379,273,3,407],"tags":[65,418,26],"class_list":["post-7422","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-crypto","category-crypto-market","category-staking","tag-crypto","tag-eigenlayer","tag-ethereum"],"yoast_head":"\nEigenLayer Launches EIGEN Token Unlock With $7.2 Billion FDV - PredictMag<\/title>\n<meta name=\"description\" content=\"EigenLayer's airdrop occurred in two phases: the first, Season 1, distributed 113 million EIGEN tokens to restakers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/predictmag.com\/blog\/2024\/10\/17\/eigenlayer-launches-eigen-token-unlock-with-7-2-billion-fdv\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EigenLayer Launches EIGEN Token Unlock With $7.2 Billion FDV - 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