Ethereum

Token

EigenLayer

Foundation

EigenLayer, a decentralized restaking protocol built on <a href="https://www.newsbtc.com/ethereum-news/changing-tides-restaking-takes-center-stage-in-ethereum-eth-staking-landscape/" target="_blank" rel="noopener ">Ethereum </a>(ETH), has made significant announcements, paving the way for new developments within the crypto ecosystem.&nbsp; 
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 <a href="https://github.com/Layr-Labs/whitepaper/blob/master/EIGEN_Token_Whitepaper.pdf" target="_blank" rel="noopener nofollow">Whitepaper</a>. 
<h2 id="eigenlayer-unveils-eigen-with-novel-mechanism">EigenLayer Unveils EIGEN With Novel Mechanism</h2> 
According to the protocol’s <a href="https://www.blog.eigenlayer.xyz/eigen/" target="_blank" rel="noopener nofollow">announcement</a>, the introduction of the EIGEN token brings forth a complementary mechanism designed to address “intersubjective” faults, which cannot be resolved through ETH restaking alone.&nbsp; 
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.&nbsp;EIGEN’s universality is reportedly aimed at allowing it to fork and slash for intersubjective errors committed by <a href="https://www.newsbtc.com/ethereum-news/changing-tides-restaking-takes-center-stage-in-ethereum-eth-staking-landscape/" target="_blank" rel="noopener ">EIGEN stakers</a> in any AVS (Automated Verification System) within the protocol.&nbsp; 
To ensure widespread adoption of EIGEN across applications, EigenLayer has designed an application-independent mechanism to maintain the system’s cryptoeconomic security.&nbsp; 
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.&nbsp; 
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 <a href="https://www.newsbtc.com/altcoin/altcoins-hotlist-expert-identifies-top-6-coins-to-track-amid-bitcoins-rise-to-72000/" target="_blank" rel="noopener ">staked drops,</a> 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.&nbsp; 
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. 
<h2 id="eigen-token-launches-meta-setup-phase">EIGEN Token Launches Meta-Setup Phase</h2> 
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.&nbsp; 
To address this, EIGEN is being launched in a <a href="https://www.newsbtc.com/news/ethereum/if-bitcoin-clears-70000-how-fast-will-ethereum-ease-past-5000/" target="_blank" rel="noopener ">meta-setup phase</a>, serving as a call to action for researchers, experts, and the broader community to engage in public discourse.&nbsp; 
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. 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/ynSFohJf/" alt="EigenLayer" width="1815" height="858"> 
Featured image from Shutterstock, chart from TradingView.com&nbsp;

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

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