This new functionality allows users to stake, trade, and transfer EIGEN between wallets. Five months after announcing the EIGEN token and its airdrop plan, and over a year since the initial testnet phase, this popular restaking platform has finally unlocked the token transfer feature as promised.
Key points about the EIGEN unlock:
- EIGEN tokens can now be freely transferred, traded, or staked, offering users greater flexibility within the ecosystem.
- The community and developers can now deploy AVS using EIGEN as a staking asset, boosting security and expanding use cases within the ecosystem.
- Developers and users are encouraged to stake EIGEN to participate in governance, security, and new initiatives.
Following this update, many EIGEN token holders have begun moving their assets to trade on various centralized exchanges (CEX). This comes after the project's earlier token distribution plan, which sparked controversy in the community. Moving forward, EigenLayer will continue to implement incentive programs, rewarding stakers and developers who are actively building AVS. The project also plans to expand by launching AVS, utilizing the previously introduced Intersubjective Slashing mechanism.
After being listed on Binance, the price of EIGEN reached an all-time high (ATH) of $4.94 and is currently fluctuating around $4.08, with a fully diluted valuation of approximately $6.7 billion.
