As a researcher with experience in the blockchain industry, I find the current situation surrounding EigenLayer and its non-transferable EIGEN tokens intriguing. While it’s true that speculators on decentralized exchanges have already assigned a value to these tokens, it’s essential to remember that this valuation is purely speculative at this point.
Blockchain start-up EigenLayer has recently dispersed its EIGEN tokens to their users for the first time. Presently, these tokens do not permit trading between users.
The Eigen Foundation, which oversees the distribution of tokens, has yet to specify a date for making them transferable.
The Eigen Foundation has announced that the registration period for EIGEN claims in Phase 1, Season 1 is now open at the given link. For a comprehensive understanding of what this entails, kindly refer to the @eigenfoundation thread and blog post linked below.
— EigenLayer (@eigenlayer) May 10, 2024
In the absence of actual trades, speculators on decentralized markets estimate the worth of each EIGEN token to be approximately $9. If and when these tokens begin trading regularly, the total market value could reach a staggering $15 billion.
“Julian Koh, CEO of Aevo, described in a Telegram message how one can consider it as the anticipated price at which the spot price may be traded when transferable. It serves as a point of reference similar to how prediction market odds are utilized for actual events.”
Before the debut of EigenLayer, there was much anticipation as it was linked with prominent investors like Andreessen Horowitz and managed to amass a substantial number of user deposits. Nevertheless, the plan for distributing its tokens has sparked debate.
As an analyst, I’ve noticed some frustration among users regarding the non-transferability restriction and the exclusion of certain regions in our ongoing airdrop campaign. Furthermore, earnings derived from third-party services have not been acknowledged for this particular event.
EigenLayer has taken steps to alleviate some concerns by assigning additional tokens to certain users based on community suggestions.
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2024-05-10 23:00