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Home»TRADING NEWS»EigenLayer stakers receive 15% of the token supply.
TRADING NEWS

EigenLayer stakers receive 15% of the token supply.

By Crypto FlexsApril 30, 20242 Mins Read
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EigenLayer stakers receive 15% of the token supply.
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Ethereum re-staking protocol EigenLayer has revealed plans to airdrop free tokens to users in two stages and introduce a new staking security system.

The native token, called EIGEN, will debut with a total supply of 1.67 billion, and the Eigen Foundation will manage the launch, scheduled for next month. According to an April 29 blog post from Eigen Labs, 45% of this supply has been designated for distribution.

EigenLayer Deployment Plan

The first category, labeled stakedrops, carries a 15% allocation and rewards stakers for locking up Ethereum (ETH) on EigenLayer’s protocol. According to Defillama, users have stashed more than $15.7 billion on the ETH redeposit platform since its launch last June.

Additionally, airdrop distribution will occur in two stages. The first batch or Season 1 will share 5% of the total 15% stakedrop allocation based on a linear calculation that takes into account amount staked, time staked and default re-staking.

all snapshot Season 1 went live on March 15th, and eligible users have until May 10th to claim 90% of the airdrop. Season 2 begins in a month, allowing stakers to collect the remaining 10% of their total 15% stakedrop allocation.

today @eigenfoundation Introducing EIGEN based on research. @eigen_labsWith Season 1 Stakedrop.

EIGEN is a Universal Intersubjective Work Token that complements ETH, EigenLayer’s Universal Objective Work Token.

View the full Eigen Foundation presentation: https://t.co/ZxswOiwWyR

— EigenLayer (@eigenlayer) April 29, 2024

EigenLayer also allows a 120-day window for Season 1 claimants. EIGEN tokens will be non-transferable at launch to promote community participation in governance. Nonetheless, eligible users can stake their stake to secure EigenDA, a data availability solution launched as a complementary layer to the re-staking protocol.

The other two user categories in the platform deployment plan each included a 15% allocation earmarked for community initiatives and ecosystem development.

Early contributors will receive 25.5% of the total supply of EIGEN, while investors will be entitled to 29.5%. Both parties have a three-year vesting schedule, with 4% of their holdings unlocked each month for the last two years.

Introduction to Subjective Branching

EigenLayer will also introduce subjective forks to address patterns that can avoid immediate on-chain detection. The cryptocurrency economic security concept strengthens ETH re-staking and addresses subjective errors, simplifying the activities of validators handling transaction re-staking.

Subjective branching range | Source: EIGEN White Paper

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