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EigenLayer Launches $EIGEN Token, Led by CEO Sreeram Kannan, to Transform Ethereum Security

Oct 1, 2024, 12:01 AM

EigenLayer, an innovative blockchain infrastructure platform, has launched its native token, $EIGEN, marking a significant milestone for the project. Led by CEO Sreeram Kannan and key team member Vyas Krishnan, EigenLayer introduces $EIGEN to enhance its restaking and security mechanisms beyond the capabilities of Ethereum (ETH) and Liquid Staking Tokens (LSTs). The platform addresses intersubjective faults by providing a universal staking, slashing, and rewards infrastructure for decentralized services. By allowing developers to have code executed with ETH stakes as a monetary guarantee of reliable execution, EigenLayer aims to build 'humanity's coordination engine.' The launch is expected to transform Ethereum into a dynamic, game-theoretic marketplace, enabling the construction of arbitrary decentralized services secured by cryptoeconomic incentives and restaked rollups like Optimism and Arbitrum.