EigenLayer to Distribute 86M Tokens in Season 2 Stakedrop

As a seasoned researcher with a keen eye for emerging trends in the DeFi landscape, I find myself intrigued by EigenLayer’s upcoming “season 2 stakedrop.” The prospect of 86 million EIGEN tokens being distributed to various stakeholders is certainly enticing, especially considering that this represents around 5% of the overall supply.


In a recent announcement, the Ethereum-backed restaking platform EigenLayer revealed that participants in their “season 2 stakedrop,” set to begin on September 17, 2024, will receive a total of 86 million EIGEN tokens

According to the blog article, here’s how the allocation will be divided: Stakers, node operators, ecosystem collaborators, and the EigenLayer community. Here’s a look at the division:

  • Stakers and node operators: These key participants will receive the largest share, with 70 million EIGEN tokens allocated to them.
  • Ecosystem partners: 10 million tokens will be distributed to those who have contributed to EigenLayer’s development and growth.
  • EigenLayer community: 6 million tokens will be allocated to the community, recognizing their role in fostering adoption.

Approximately 5% of the maximum available EIGEN tokens (which totals 1.67 billion) is made up by the 86 million tokens that have been issued

In April 2024, EigenLayer debuted their native EIGEN token after a spell of substantial financial investments. At its zenith, the protocol boasted approximately $15.7 billion in deposits, underscoring its significance within the decentralized finance (DeFi) sector

As a researcher delving into the world of decentralized finance, I’ve noticed an intriguing shift in the landscape. Recent figures from DefiLlama show a decrease in the Total Value Locked (TVL), now standing at approximately $11.3 billion. This dip seems to align with broader trends observed across various restaking protocols, suggesting a potential repositioning or contraction within this sector

With EigenLayer’s protocol, users can lock up their Ethereum (ETH) and use it to support the security of other networks or protocols. In return, they receive extra income, making this an appealing option for DeFi users who want to boost their earnings from their staked assets

The decrease in EigenLayer’s Total Value Locked (TVL) follows a broader pattern among staking protocols. Similarly, Renzo and Karak, significant players in the field, have experienced a decline. Specifically, Renzo’s TVL has dropped by 22%, currently at $1 billion, while Karak’s TVL has reduced by 14.6% to reach $688 million

The price of Ethereum has dropped substantially since its peak in July 2024, falling from $3,536 to its present trading value of $2,388. Consequently, this decline has affected the worth of staked assets and the total value locked within the protocol

Many individuals who took part in these procedures used the tactic known as airdrop cultivation. This method entails keeping assets on hand in expectation of receiving a bigger portion of an airdrop token if the protocol launches its own native token. As several airdrop initiatives came to a close, users started withdrawing their assets, leading to a decrease in TVL (Total Value Locked)

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2024-09-05 18:12