One of the talked about and anticipated token choices of 2024 occurred just some hours in the past. In fact, we’re speaking about EIGEN – the native cryptocurrency behind EigenLayer, the preferred Ethereum-heavy collateral protocol.
EIGEN goes public for the primary time, with absolutely diluted market worth reaching US$7 billion
The Eigen Basis revealed the EIGEN unlocking occasion in its official announcement.
1/ We’re pleased to announce the unlocking of EIGEN tokens, that are @feature layer Ecosystem.
This opens up new potentialities for open innovation, shared safety and participation throughout the net.
Extra↓ pic.twitter.com/HIG33eyV92
— Eigen Basis (@eigenfoundation) October 1, 2024
The token is instantly accessible for buying and selling on main cryptocurrency exchanges similar to Binance, Bybit, OKX, Kraken and extra. It is usually accessible on Uniswap v3 decentralized change.
As of this writing, EIGEN trades at over $4 and has a completely diluted market capitalization of roughly $7 billion, with a present market capitalization of roughly $760 million.
What does this imply for characteristic layers?
This unlock permits builders to start out constructing Lively Verification Providers (AVS) utilizing EIGEN staking. That is necessary as a result of stakeholders play an necessary function in defending AVS and diversifying community use circumstances.
Based on the announcement:
The unlocking of EIGEN marks the start of wider participation. It acts as a catalyst for financial growth, governance, and protocol improvement, driving development and strengthening the decentralized ecosystem.
For these unfamiliar, EigenLayer has grow to be a Top DeFi Projects 2024. Mainly, the community acts as a middleware, making a free and open market the place validators and protocols can freely commerce collective securities at a sure worth.
Based by Sreeram Kannan in early 2021, it has attracted over $12 billion in whole locked worth, according to to DeFiLlama.
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