EigenLayer Makes A Big Splash With EIGEN Token Launch And Major Airdrop Plan, Get The Full Scoop!

EigenLayer,
a
decentralized
restaking
protocol
built
on


Ethereum

(ETH),
has
made
significant
announcements,
paving
the
way
for
new
developments
within
the
crypto
ecosystem. 

The
protocol
unveiled
its
native
token,
EIGEN,
which
the
newly
formed
Eigen
Foundation
will
distribute.
Alongside
this,
EigenLayer
introduced
a
major
plan
for
an
airdrop
and
released
a
comprehensive
new


Whitepaper.

EigenLayer
Unveils
EIGEN
With
Novel
Mechanism

According
to
the
protocol’s


announcement,
the
introduction
of
the
EIGEN
token
brings
forth
a
complementary
mechanism
designed
to
address
“intersubjective”
faults,
which
cannot
be
resolved
through
ETH
restaking
alone. 

By
expanding
ETH
restaking,
EigenLayer
positions
ETH
as
the
Universal
Objective
Work
Token,
while
the
universality
of
EIGEN
makes
it
the
Universal
Intersubjective
Work
Token. EIGEN’s
universality
is
reportedly
aimed
at
allowing
it
to
fork
and
slash
for
intersubjective
errors
committed
by


EIGEN
stakers

in
any
AVS
(Automated
Verification
System)
within
the
protocol. 

To
ensure
widespread
adoption
of
EIGEN
across
applications,
EigenLayer
has
designed
an
application-independent
mechanism
to
maintain
the
system’s
cryptoeconomic
security. 

In
EigenLayer,
EIGEN
staking
and
ETH
restaking
play
complementary
roles.
EIGEN
addresses
safety
properties
through
objective
slashing,
and
ETH
restaking
ensures
liveness
and
censorship-resistance
properties
dependent
on
stake
decentralization.

The
launch
of
EIGEN
also
introduces
intersubjective
staking,
marking
a
significant
milestone
for
the
protocol
and
the
Ethereum
ecosystem.
However,
due
to
its
newly
introduced
design,
the
concept
requires
widespread
adoption
and
discussion
among
ecosystem
participants. 

At
launch,
the
Eigen
token
will
have
a
total
supply
of
1.67
billion
tokens,
with
the
Foundation
allocating
45%
of
the
tokens
to
the
community.
This
allocation
is
further
divided
into


staked
drops,

community
initiatives,
and
ecosystem
development.

Investors
will
reportedly
receive
almost
30%
of
the
tokens,
while
early
contributors
will
receive
over
25%.
Both
these
groups
are
subject
to
a
three-year
lockup
period
for
their
allocations. 

A
complete
lock
will
be
in
place
during
the
first
year,
followed
by
a
gradual
release
of
their
total
holdings
at
a
rate
of
4%
per
month
over
the
subsequent
two
years.

EIGEN
Token
Launches
Meta-Setup
Phase

While
the
initial
implementation
of
intersubjective
staking
at
launch
mirrors
only
a
limited
extent
of
the
full
protocol,
several
parameters
still
need
to
be
determined
for
its
full
actuation. 

To
address
this,
EIGEN
is
being
launched
in
a


meta-setup
phase,
serving
as
a
call
to
action
for
researchers,
experts,
and
the
broader
community
to
engage
in
public
discourse. 

As
EigenLayer
announced,
this
collaborative
effort
aims
to
help
define
the
necessary
parameters
to
make
the
protocol
and
its
interaction
with
the
rest
of
the
Ethereum
ecosystem
as
effective
as
possible.

Featured
image
from
Shutterstock,
chart
from
TradingView.com 

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