In June 2022, EigenLayer launched Stage 1 of its Mainnet, marking a significant milestone in the project's development within the Ethereum ecosystem. Now, nearly two years later, EigenLayer has introduced the highly anticipated $EIGEN token along with Season 1 Stakedrop, distributing 15% of the initial token supply across multiple seasons.
Season 1 features two phases, with 4.54% (75.91M) of the initial supply available for claiming over 120 days starting on May 10, 2024, based on a snapshot taken on March 15. An additional 0.46% (7.77M) is reserved for Phase 2, to be released in approximately one month. To show support for the community's dedication to the protocol, 10% of the supply is allocated for future seasons.
Eligible recipients include users actively participating in the EigenLayer protocol, such as LRTs holders and restakers of other approved liquid restaking protocols. Take advantage of this opportunity now!
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About EigenLayer
EigenLayer is the inaugural restaking protocol, offering an innovative solution to the issue of kickstarting decentralized networks by leveraging Ethereum's extensive validator network and proof-of-stake consensus mechanism. This not only assists developers but also enables users to reinvest their staked ETH for extra rewards while fostering open innovation.
At launch, the total supply of EIGEN tokens is 1,673,646,668.28466, reflecting Ethereum's flexible token supply. To monitor Ethereum's supply and burn statistics in real-time, please visit Ultrasound.money.
Step-by-step guide
Head over to the EigenLayer restaking page, connect your wallet, and select the LST token you want to restake, then enter the amount and click deposit (Withdraw Guide). Popular liquid staking tokens (LSTs) include Lido staked ETH (stETH), Rocket Pool ETH (rETH), Wrapped Beacon ETH (wBETH) of Binance, and Coinbase wrapped staked ETH (cbETH)… Check your Airdrop eligibility for Stakedrop phase 1 and claim your free $EIGEN tokens at claims.eigenfoundation.org. If you used an LRT but do not have an allocation in Phase 1, you may be eligible in Phase 2. For more info, read the official Eigen Foundation Announcement. Approx 1% of the total allocation has been dedicated to ensuring a minimum floor of 110 $EIGEN for each restaker. Note that future seasons will not have a minimum allocation. Explore delegating to one of the Node operators running AVSs like EigenDA to secure key blockchain components such as layer 1s, bridges, coprocessors…, fueling open innovation.
Disclaimer: This content is for educational and informational purposes only and does not constitute financial advice. Conduct thorough research before making any deposit/investment decisions (DYOR).
Project links
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