EigenLayer’s native tokens claim process begins today following the project’s distribution and “stakedrop” plan announcement last month. The tokens will remain non-transferable until the end of the third quarter, as clarified by the Eigen Foundation. The release date for token transfer functionality is expected by September 30, 2024.
After claiming the tokens today, users can start staking and delegating to operators of Eigen’s native data availability solution, EigenDA, which is an actively validated service on the network. To support EigenDA, users must delegate their stake to an operator on the platform via the EigenLayer web portal.
“At launch, EigenDA will be the only AVS that uses an EIGEN quorum. We expect other AVSs to follow soon,” noted the project.
EigenLayer allows new proof-of-stake projects to quickly establish security by connecting to a broader trust network, thereby bypassing the challenges of developing their own.
The platform began accepting deposits in 2023 and has since accumulated over $15 billion in ether to secure various protocols. AVSs benefiting from EigenLayer’s security can range from consensus protocols to oracle networks and data availability platforms.
The introduction of the Eigen token also brought inter-subjective forking, a crypto-economic feature that complements ether restaking in securing the AVS ecosystem.
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