The total supply of the token will be 1.6 billion, with 86 million allocated to early adopters, who will receive a recently announced airdrop dubbed "stakedrop." This allocation highlights the importance placed on incentivizing early users while fostering community involvement and future engagement with the Eigenlayer protocol.
The trading on centralized exchanges is set to begin at 05:00 UTC Tuesday, with anticipation building around the release of the EIGEN token on Binance shortly after. The potential for volatility during this initial trading phase is heightened, given the current market context and varying investment sentiment.
EigenLayer's staked ETH can be repurposed for securing various networks and fetching additional rewards, demonstrating a multi-faceted utility in the staking ecosystem. However, the total value locked on the protocol has dropped by more than 50% since June, facing tough competition and sector-wide declines.
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