• EigenLayer’s token EIGEN can be launched in Could with a complete provide of 1.67 billion tokens.
• The Eigen Basis has introduced a group airdrop scheduled for Could.

The Eigen Basis, the non-profit group supporting the event of the restaking protocol EigenLayer, has introduced the launch and distribution of its native token EIGEN.

In parallel with the token announcement, the Basis and Eigen Labs crew printed the EigenLayer whitepaper. The mission, which attracted funding from Binance Labs and a16z earlier this 12 months, has seen great development by way of staked Ether (ETH).

EIGEN token launch and airdrop

In accordance with at the moment's announcement, the Eigen Basis plans to launch EIGEN tokens in Could. An airdrop will even be launched for EigenLayer's staker group.

The entire provide of recent tokens is ready at 1.67 billion, with 45% of EIGEN tokens allotted to the group.

Right this moment is @eigenfoundation We introduce EIGEN primarily based on our analysis. @eigen_labsalongside Season 1 Stake Drop.

EIGEN is a common intersubjective work token and enhances ETH as EigenLayer's common goal work token.

Learn the total announcement from Eigen Basis: https://t.co/ZxswOiwWyR

— Eigenlayer (@eigenlayer) April 29, 2024

In accordance with particulars in a weblog publish summarizing the distribution, 15% of the availability will go to stake drops, a further 15% can be put aside for group initiatives, and the identical quantity (15%) can be allotted to EigenLayer ecosystem growth.

EIGEN Airdrop Season 1 will give the group an opportunity to win a 5% share of the token provide. This allocation can be despatched to the stake drop contributors captured within the snapshot taken on March 15, 2024. Claims for this airdrop will start on Could tenth, and 90% of the tokens can be claimable for as much as 120 days.

The following batch, the remaining 10%, can be printed 30 days after the tip of the primary billing interval.

In the meantime, the Eigen Basis allocates 29.5% of its provide to traders and 25.5% to early donors.

Allocations to traders and early backers have a three-year cryptocurrency vesting interval, with full lock-up within the first 12 months. Features a lockup price of 4% per thirty days for the subsequent two years.