EigenLayer Prepares to Remove Major Restrictions

EigenLayer is gearing up for the lifting of transfer restrictions on its EIGEN token, set for September 30.

Once transfers are allowed, users will be able to trade or transfer their EIGEN tokens, including any rewards from airdrops. However, those with staked tokens will need to undergo a seven-day withdrawal period to unstake them.

This follows the recent distribution of 86 million EIGEN tokens during EigenLayer’s second stakedrop, which ran from March 15 to August 15, 2024. Tokens from both this event and a previous distribution in April were initially locked from being transferred.

EigenLayer allows users to deposit and stake Ethereum (ETH) to help secure third-party networks or services. The platform has a total supply of 1.67 billion EIGEN tokens, which are intended to be used within its crypto security framework.

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Pre-launch platforms like Hyperliquid have valued EIGEN token derivatives at around $3.4, giving it a fully diluted market value of $5.4 billion.

Deyan Angelov

Active crypto trader who also follows news related to stocks, the S&P 500, and gold. Deyan enjoys staying physically active, trains regularly, and practices calisthenics. He also likes reading sci-fi books when he has the time.