EigenLayer's $EIGEN Token Launches May 10, Non-Transferable Initially, Total Supply 1.67B

Apr 30, 2024, 09:00 AM

The EigenLayer protocol has announced the launch of its native token, $EIGEN, which will be claimable starting May 10. The token's initial distribution includes a 15% allocation to stakers, with 5% based on a snapshot taken on March 15. The token will be non-transferable initially, with 45% of the total supply dedicated to community initiatives, ecosystem development, and stakedrops. The total supply of $EIGEN is 1.67 billion, with 29.5% allocated to investors and 25.5% to early contributors. The launch has sparked discussions about its potential impact on Ethereum's ecosystem, with some expressing skepticism about the token's initial non-transferability and the distribution strategy favoring developers and investors.