As a researcher with a background in blockchain technology and decentralized finance (DeFi), I’m excited about the recent announcement from EigenLayer regarding their plans for an Ethereum staking protocol and token distribution. The introduction of inter-subjective forking is particularly intriguing, as it aims to address subjective faults that may not be immediately detected on-chain.
In simple terms, EigenLayer, the Ethereum restaking protocol, announced its intentions to distribute free tokens to users through two successive stages. Additionally, they unveiled a novel staking security mechanism.
As an analyst, I’d rephrase it as follows: The new cryptocurrency, named EIGEN, will be introduced with a total issuance of 1.67 billion tokens. The Eigen Foundation is responsible for overseeing its launch, which is planned for the upcoming month. Based on the information disclosed in a blog post dated April 29th from Eigen Labs, half of this amount, specifically 45%, will be allocated for distribution.
EigenLayer distribution plan
As a crypto investor, I’d describe it this way: The first category, which I refer to as “stakedrops,” makes up 15% of the allocation. By staking Ethereum (ETH) on EigenLayer’s platform, I can earn rewards. With over $15.7 billion worth of ETH having been staked on DefiLlama’s Ethereum restaking platform since its inception last June, it’s clear that many investors have chosen this method to grow their crypto holdings.
The airdrop distribution will occur in two parts. In the initial phase or first batch, also referred to as season one, we will distribute 5% of the total 15% staking rewards allocation. This percentage will be calculated linearly based on several factors including the amount and duration of staking, as well as native restaking.
A snapshot for season one was taken on March 15, and eligible users can claim 90% of the airdrop by May 10. Season two will begin a month later, allowing stakers to collect the remaining 10% of the total 15% stakedrop allocation.
As a crypto investor, I’m excited to share that today, the Eigen Foundation unveils its latest innovation: EIGEN. This token is developed by Eigen Labs and is introduced alongside our Season 1 Stakedrop.
— EigenLayer (@eigenlayer) April 29, 2024
As a crypto investor, I’m excited about EigenLayer and its upcoming features. Season one claimants will have a 120-day window to secure their tokens. At launch, my EIGEN tokens won’t be transferable, which I believe is a smart move to encourage community involvement in governance. I look forward to staking a share to obtain EigenDA – an essential data availability solution that complements the restaking protocol.
In the platform’s distribution strategy, there were two additional user groups assigned a 15% share each. One was designated for community initiatives, while the other focused on ecosystem development.
Initial backers are entitled to claim 25.5% of the entire EIGEN token issuance, while investors hold the right to 29.5%. Both groups will undergo a vesting period lasting three years. During the final two years of this term, 4% of their respective holdings will become accessible on a monthly basis.
Introducing inter-subjective forking
EigenLayer aims to address complex patterns that may go undetected through instant on-chain detection by introducing inter-subjective forking. This crypto-economic security feature will enhance Ethereum’s staking process and rectify subjective issues, making it easier for validators to manage restaking transactions.
Read More
- BODEN PREDICTION. BODEN cryptocurrency
- GHST PREDICTION. GHST cryptocurrency
- BETA PREDICTION. BETA cryptocurrency
- STRD PREDICTION. STRD cryptocurrency
- Mango Markets Exploiter Found Guilty Of Fraud And Manipulation
- GBP EUR PREDICTION
- MATIC PREDICTION. MATIC cryptocurrency
- LOOKS PREDICTION. LOOKS cryptocurrency
- BRN/USD
- TNSR PREDICTION. TNSR cryptocurrency
2024-04-29 21:24