EigenLayer Prepares to Remove Major Restrictions

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Written by

Alexander Zdravkov

Last Updated: Sep 24, 2024

Time to Read: 1 min

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.

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.

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Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.

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Alexander Zdravkov

1563 articles Since 2024