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The highly anticipated launch of EigenLayer’s native token, EIGEN, will take place on Tuesday at 07:00 UTC+3.
The token will be listed on Binance at 08:00 UTC, one hour after its launch.
EigenLayer is Known as One of the Largest Restaking Platforms
EigenLayer offers a unique option for users to stake Ethereum (ETH), allowing Ethereum to be reused to secure other networks and earn additional rewards. Despite its innovative approach, the total value locked (TVL) in the protocol has fallen by over 50% since June, currently sitting at around $10 billion. This decline reflects increasing competition in the restaking sector.
The total supply of EIGEN will be 1.6 billion tokens, with 86 million of them set aside for early adopters as part of an airdrop initiative known as “stakedrop.”
Market expectations are high as the token price is currently trading at $4.03 on perpetual exchange Aevo, which has recorded a trading volume of $191,000 in the last 24 hours. The token is trading at a fully diluted valuation (FDV) of $6.8 billion, but volatility is expected after launch.
*This is not investment advice.