- EigenLayer’s token EIGEN will launch in Might, with a complete provide of 1.67 billion tokens.
- The Eigen Basis has introduced an airdrop for the group, set for Might.
The Eigen Basis, the non-profit supporting the event of restaking protocol EigenLayer, has introduced the launch and distribution of the native token EIGEN.
Alongside the announcement for the token, the muse and the Eigen Labs group unveiled the EigenLayer whitepaper. The undertaking, which attracted funding from Binance Labs and a16z early this 12 months, has seen large development when it comes to staked Ether (ETH).
EIGEN token launch and airdrop
In response to at present’s announcement, the Eigen Basis will launch the EIGEN token in Might. An airdrop for the group of stakers on EigenLayer may even go dwell.
The brand new token is ready at a complete provide of 1.67 billion, with 45% of the EIGEN tokens allotted to the group.
At the moment the @eigenfoundation introduces EIGEN, primarily based on analysis by @eigen_labs, alongside a Season 1 Stakedrop.
EIGEN is the Common Intersubjective Work Token, complementing ETH because the Common Goal Work Token in EigenLayer.
See the total Eigen Basis announcement: https://t.co/ZxswOiwWyR
— EigenLayer (@eigenlayer) April 29, 2024
Per the main points in a weblog publish summarizing the distribution, 15% of provide will go to stakedrops, one other 15% put aside for group initiatives and the same quantity (15%) allotted to the EigenLayer ecosystem growth.
The EIGEN airdrop Season 1 will see the group get an opportunity to seize a share of 5% of the token provide. This allocation goes to stakedrop contributors captured in a snapshot taken on March 15, 2024. Claims for this airdrop start on Might 10, with 90% of the tokens claimable for as much as 120 days.
The subsequent batch, which is the remaining 10%, will go dwell will 30 days after the primary part declare window ends.
In the meantime, the Eigen Basis has earmarked 29.5% of provide for traders and 25.5% for early contributors.
Allocations to traders and early contributors face a 3-year crypto vesting interval, with complete lockup in 12 months 1. The subsequent two years will embrace an unlock charge of 4% per thirty days.