Dear Readers, 

The much anticipated, awaited and one of the biggest projects of this year, the ethereum based restaking protocol- Eigenlayer has released its whitepaper for its EIGEN native token in the Github, which is a web-based platform that hosts and manage version control repositories for software development.

EigenLayer enables the Ethereum stakers to basically reuse their staked funds and restake them for the purpose of pooled security provided by the EigenLayer protocol.

EigenLayer allows restaked sidechains where ETH restakers can participate in new consensus protocols which have low latency and high throughput.

Restaked nodes can attest they will not build on a chain that does not include a testified block, creating a finality pathway.

This whitepaper discussed in detail on the structure of the Eigen token and more on the EigenLayer ecosystem.

EIGEN coin will be an important coin in the Eigenlayer eco-system.

This Eigen token is particularly promising as crypto markets are at moving high. As per the tokenomics, the coin's total supply will be 1.67 billion.

In this the 15% is for the staking airdrops, 15% of the community program and  the rest 15% is for the ecosystem development out of the total supply. 29.5% for the investors. 

There is a three-year lock-up period with the first year being fully locked. Monthly unlocking of 4% will occur over two years.

Having after the Eigen token launched, all the users will be able to stake it to secure its data availability layer EigenDA. 

Interestingly the issue will be through Eigen Foundation from May 10. It is already to be noted that the Security and Exchange Commission ( SEC) is already moving against the Ethereum Foundation, the situation is not so conducive. But there is no alternative way to issue Eigen token other than this. 

Follow this interesting news of Eigenlayer and Eigen.