EigenLayer Announces Second Stakedrop Season, Distributing 86 Million EIGEN Tokens
EigenLayer launches its second stakedrop season, distributing 86 million EIGEN tokens to stakers, node operators, and community members, starting September 17, 2024.
Bollywood Fever: EigenLayer, a leading restaking protocol, has revealed the second season of its stakeholder airdrop, or “stakedrop,” with a total distribution of 86 million EIGEN tokens.
This allocation will benefit stakers, node operators, ecosystem partners, and community members who were active between March 15 and August 15, 2024.
The distribution process is set to begin on or before September 17, with stakeholders able to claim their tokens starting on that date.
This latest stakedrop follows the launch of EigenLayer’s native token and its first stakedrop announced in April.
EigenLayer allows users to stake Ether (ETH) and allocate it to secure third-party networks or actively validated services (AVSs).
Of the 86 million tokens distributed in the second season, 70 million are allocated to stakers and active operators based on their pro-rata share of ETH staked.
Another 10 million tokens are reserved for contributors to the EigenLayer ecosystem, including AVSs, rollups, and liquid restaking protocols.
Additionally, 6 million EIGEN tokens will go to open-source contributors and early advocates. To claim their share, community members must verify their social identity by linking their wallet addresses to social handles via the Eigen Foundation’s verification site by September 11.
The second stakedrop season comes as EigenLayer’s total value locked (TVL) has experienced a decline, dropping from an all-time high of $20.1 billion in June to $11.5 billion.
This trend mirrors declines in TVL across other restaking platforms like Renzo and Swell.
In contrast, Symbiotic, a competitor yet to launch a token, has seen a rise in TVL, surpassing $1.5 billion since its June rollout.
EigenLayer’s 1.67 billion EIGEN tokens are not yet tradable, but pre-market valuations estimate each token at around $2.7, giving the protocol a fully diluted valuation of approximately $4.5 billion.
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