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Introduction
EigenLayer is a protocol built on Ethereum that introduces re-staking, allowing users who have staked $ETH to join the EigenLayer smart contract to re-stake their $ETH and extend cryptoeconomic security to other applications on the network. As a platform, EigenLayer, on the one hand, raises assets from LSD asset holders, and on the other hand, uses the raised LSD assets as collateral to provide middleware, side chains, and rollups with AVS (Active verification service) needs. The convenient and low-cost AVS service itself provides demand matching services between LSD providers and AVS demanders, and a specialized pledge service provider is responsible for specific pledge security services. EIGEN total supply: 1.67 billion tokens
The Eigenlayer price rose 8% in the last 24 hours to trade at $4.31 as of 03:27 a.m. EST on trading volume of $366 million. This comes after the token debuted on several centralized exchanges (CEXs) with a fully diluted value (FDV) of $6.51 billion and a market capitalization of $789.5 million. There are already 1.67 billion EIGEN tokens in the market, including 86 million tokens that were airdropped to users who interacted with the protocol this year. Eigenlayer Price Set To Soar After its debut, the Eigenlayer price soared to an all-time high of $4.47 but still remains above the rising channel (above the white trendline), according to data from GeckoTerminal . The 9-period moving average is marked at $4.2016, which is below the current price, indicating some upward momentum. Moreover, the RSI is 52.35, which suggests that the asset is in a neutral zone, neither overbought nor oversold. If the bulls take advantage of the price moving along the rising channel, EIGEN could soar even higher, as the bulls target new highs in the coming days. It seems that the price is stabilizing above the trendline with the potential for a breakout. In a scenario where the bulls take charge, the price of Eigenlayer could surge, as the bulls target $5. EIGENUSD Chart Analysis Source: GeckoTerminal.com However, if the bears take charge of the price to breach the channel’s lower boundary, the price of Eigenlayer could plunge towards the $4.0 support level. Meanwhile, as the Eigenlayer price aims for a bullish trend continuation, investors are also buying into the Crypto All-Stars (STARS) presale, which has amassed over $1.8 million in less than two months. Jacob Bury, a crypto YouTuber with over 42K subscribers, says that $STARS has the potential to soar 10X after its launch. Crypto All-Stars Amasses Over $1.88 Million – Best Meme Coin To Buy Now? The Crypto All-Stars presale is rocketing towards $2 million for its $STARS token. It’s a project that stands out for introducing the first unified staking protocol for meme coins via its breakthrough MemeVault protocol. The meme coins that can be staked on Crypto All-Stars include Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Brett, Mog Coin, Milady Meme Coin, Turbo, Toshi, Coq Inu, and Bonk. More meme coins will be added in the coming months. You can also buy and stake $STARS for an astonishing annual percentage yield (APY) of 793%. The crypto is selling currently for $0.0014796. With a price hike coming in less than 3 days, don’t wait too long to lock in the best possible deal. Purchase $STARS from its official website here using BNB, USDT, or a bank card. Related News Rich Bitcoin Investors List – Famous Crypto Investors Who Own Bitcoin Best Cheap Crypto to Buy Now In 2024 – Low Cost Coins Hamster Kombat Price Prediction: HMSTR Plunges 5% As This New Meme Coin ICO Charges Towards $2 Million
Eigenlayer Price Prediction: EIGEN Soars 8% On Debut, But Experts Say This Staking Platform Might Be The Best Crypto To Buy NowEigenLayer’s highly anticipated native token EIGEN has launched, with its price jumping nearly 15% on its debut to reach a peak of $4.53. While major exchanges such as Binance and Coinbase made consecutive listing announcements for EIGEN, Tron founder Justin Sun, one of the largest holders, began unloading the EIGEN tokens he received in airdrops. Justin Sun moved 5.37 million EIGEN, which raises the question of whether this will cause a collapse in the price of EIGEN. Justin Sun Claims His EIGENs! Tron founder Justin Sun received over $38.74 million in EigenLayer airdrops on his way to Ethereum ReStaking. According to a post by on-chain analyst EmberCN, Justin Sun withdrew 5,374,267 EIGEN tokens from six addresses. Justin Sun transferred 5.37M EIGEN to HTX. Currently, EIGEN is valued at around $4 on over-the-counter markets. The token is scheduled to be listed on Binance, Coinbase, OKX, and Bybit on October 1. Justin Sun could make over $22.19 million in profit from EIGEN if he sells at the current market price. 再质押赛道龙头 EigenLayer ($EIGEN) @eigenlayer 即将在今天下午 1 点上线各大 CEX,孙哥等 ETH 存款巨鲸也将迎来收获时间。 孙哥在昨天晚上 (14 小时前) 已经通过 6 个地址领取了 5,374,267 枚 EIGEN,按照目前 4U 的场外价格,价值高达 2149 万 U。 本文由 #Bitget | @Bitget_zh 赞助 pic.twitter.com/WyyNGiWOzE — 余烬 (@EmberCN) October 1, 2024 *This is not investment advice.
Investors Beware of Dump Risk! Tron Founder Justin Sun Withdrew All of the Altcoin He Bought with Airdrop!Key Takeaways EIGEN token is now freely tradable following the lift of transfer restrictions. The token's current market valuation stands at $7.1 billion. Share this article EigenLayer, the Ethereum-based restaking protocol, has officially removed transfer restrictions on its native EIGEN token, allowing holders to move and trade their assets freely. The token became transferable at midnight EST and is now trading on various cryptocurrency exchanges. EIGEN debuted at $3.90 with a fully diluted valuation of $6.51 billion. As of press time, the token price has increased by over 13% to $4.26, giving EigenLayer a fully diluted valuation of $7.1 billion, according to data from CoinGecko. The token distribution follows EigenLayer’s two stakedrops from an initial supply of 1.67 billion tokens. Approximately 86 million tokens were airdropped to users who had previously interacted with the protocol. Kairos Research estimates the current circulating supply to be around 200 million tokens, despite the protocol facing criticisms over conflict of interest . Several major cryptocurrency exchanges, including Binance and MEXC, are set to list EIGEN for trading on October 1 at 05:00 UTC. This broader exchange availability is expected to increase liquidity and accessibility for the token. Unlike traditional governance tokens, EIGEN is designed as a “Universal Intersubjective Work Token.” According to EigenLayer’s blog post, the token aims to address challenges of “universality, isolation, metering, and compensation” while leveraging social consensus and forking mechanisms to execute various digital tasks securely. The EIGEN token supports a crypto-economic security system known as inter-subjective forking. This innovative approach is intended to enhance the protocol’s resilience and adaptability in the face of potential disputes or governance challenges. EigenLayer’s platform allows users to stake Ether (ETH) to secure third-party networks or actively validated services, offering additional yield opportunities. However, the protocol has experienced significant outflows in recent months, with its total value locked (TVL) dropping from a peak of $20 billion in June to approximately $10 billion currently. This decline is partly attributed to stakers exiting their positions after meeting the criteria for the token airdrop. The protocol secured a $100 million investment from a16z earlier this year. Despite the recent TVL decrease, EigenLayer remains a significant player in the Ethereum ecosystem, with over $12 billion in total value locked. The protocol’s innovative approach to restaking and its potential to enhance the security and efficiency of multiple blockchain networks continues to attract interest from investors and developers. Share this article
EigenLayer's EIGEN token now tradable as restrictions end, debuts with $7B FDVPANews reported on September 30 that according to Lookonchain monitoring, in the past 4 hours, 2 whales purchased a total of 702,324 EIGEN (US$2.86 million). 0x2dcd spent 588 ETH (US$1.55 million) to purchase 383,672 $EIGEN at a price of US$4.05. 0xb112 spent 1.31 million USDC to purchase 318,651 EIGEN at a price of US$4.1.
In the past 4 hours, two whales purchased a total of 702,324 EIGEN, worth about $2.86 millionOriginal author: Shlok Khemani Original title: Actively Validated Services, How EigenLayer is unshackling crypto entrepreneurship》 Original translation: zhouzhou, BlockBeats Editor's note:EigenLayer is promoting the development of trusted distributed networks in a similar way to how AWS changed the entrepreneurial economy before. By providing a reliable pool of validators (operators), EigenLayer enables new protocol developers to easily obtain technical services without staking their native tokens. This not only reduces startup costs, but also allows projects to provide security through established assets such as ETH, thereby reducing the need for token issuance. As more innovative projects emerge, EigenLayer may lead the next wave of entrepreneurial trends and inspire more experiments and development. NFT, DAO, and DeFi have been important primitives that have gradually subverted the financial system. Shared security is another key component in this evolution. EigenLayer has become a key player in the ecosystem, and its token will be transferable on September 30th. We see this as the “AWS moment” for Web3 — a critical juncture similar to the period in the mid-2000s when server costs fell, and the cost of cryptoeconomic security also fell. Today’s post will dive into how Active Verification Service (AVS) works and our logic behind it. The progress of civilization is that we can do more important things without thinking. - Alfred North Whitehead In late 2002, eight people attended a tech conference hosted by Amazon at the old Pacific Medical Center headquarters. Although the number of attendees was very small, this meeting became a turning point in the fate of Amazon, the startup economy, and the development of capitalism. On this day, Amazon launched the first version of Amazon Web Services (AWS). Jeff Barr was one of eight attendees at the AWS launch event and joined the AWS team shortly after. Today he is AWS's chief evangelist and frequently explains new AWS features via the LEGO blog. (Image source) A non-exhaustive list of what it took to start an Internet company in the 1990s and early 2000s: physical servers, network equipment, data storage, software licenses for databases and operating systems, a secure facility to house the hardware, a team of system administrators and network engineers, and a robust disaster recovery and backup solution. All of this costs at least $250,000, and the setup process takes months or even a year. What’s surprising is that these infrastructure expenses have little to do with a company’s unique product or service. Whether you’re building a pet store or a social media platform, you have to go through the same process from scratch. It is estimated that 70% of engineering time is spent on building and maintaining data centers, and only 30% is invested in the actual business. By introducing cloud computing, AWS fundamentally changed the economics of startups with a flexible, pay-as-you-go model, eliminating the need for upfront investments in time, energy, money, and manpower. Transforming infrastructure from a capital investment to an operating expense enabled small teams with revolutionary ideas to quickly launch and validate their hypotheses. Many of these teams eventually grew into companies like Stripe and Airbnb. Around the same time, an anonymous programmer named Satoshi Nakamoto changed the structure of capitalism in another way. He found a way for globally distributed computers to reach consensus without trusting each other, solving a problem that had plagued computer scientists for decades. This was a breakthrough innovation from zero to one in the history of technology. While Satoshi Nakamoto's Bitcoin mainly used this trustless distributed system to maintain payment ledgers, Vitalik Buterin founded Ethereum and expanded its functionality to support any general computing. Over time, other application scenarios for this system have gradually emerged - from decentralized storage networks like Filecoin to oracle networks like Chainlink, which can securely provide real-world data to blockchains. However, the process of building such a decentralized network from scratch is similar to the process of creating internet companies before AWS - costly, resource-intensive, and often unrelated to the core problem of the network. Given that many of these networks involve real money from the beginning, the consequences of any mistakes can be catastrophic. When a problem affects enough people, solutions emerge. Amazon made it easy to start internet companies, and now the EigenLayer team is providing similar support for those who want to build trusted distributed computer networks. Each network built on EigenLayer is called an "Active Verification Service" (AVS). Before we dive into AVS, we first need to understand why it is so difficult to start a distributed network. Challenges Let's review the problem: you have a global network of computers, each operating independently, and you need to reach consensus on a common truth among these nodes that don't trust each other. This fact can be anything - the balance of tokens in an account, the stock price of NVIDIA, the result of a complex calculation, or the availability of a file in the network. Nodes in these networks may have an incentive to manipulate the facts, for example, falsely reporting a higher token balance than the actual amount. However, as long as the majority of the network's nodes agree on the actual truth, malicious actors will be ignored. When the majority of nodes agree on a state that deviates from the truth, the situation becomes dangerous and the network is threatened. Satoshi Nakamoto cleverly combined concepts from cryptography and game theory to create Bitcoin's Proof of Work (PoW) system to solve this problem. Today, most networks use a variant of PoW - Proof of Stake (PoS), which contains four key elements: Cryptography: prevents identity impersonation and ensures the integrity and authenticity of data in the network. Reward mechanism: real participants (validators) are financially incentivized through users' transaction fees and newly minted tokens in the network. Punishment mechanism: Malicious actors face financial penalties, validators must stake the network's native tokens to participate, and if they act maliciously, the staked tokens may be destroyed (slashed). The power of distribution: Having more validators with a good distribution of stakes makes the network more resilient to attacks. PoS networks allow ordinary users to delegate their tokens to validators and receive a portion of the validator's rewards. However, this approach also puts users at risk - if the selected validator acts maliciously, the user's stake may be slashed. On some blockchains (like ETH and Solana), the protocol allows stakers to exchange native tokens for liquidity tokens (e.g., Lido offers stETH tokens to Ethereum stakers), and this derivative asset is called a Liquid Staking Token (LST). In this context, imagine that you are a team that wants to build a PoS network from scratch. You first need to find a group of validators - people who have the technical expertise and hardware to join your network. You may find these people on Discord and X (formerly Twitter). However, to attract their attention among many competing projects, you need to either excel in marketing or have a lot of venture capital backing. Once you have their attention, convincing them to join your network is not easy. Remember, validators either stake their own capital as collateral or need to spend energy to attract others to stake. Since your network is still in its early stages, the value of the token may not be high. Why should validators take the risk of acquiring a token that may plummet at any time, especially when they are already exposed to the volatility of other network assets? Your best strategy may be to increase rewards: offer validators (and stakers) higher returns to compensate for the greater risk they take, which explains why nascent networks often have higher APYs on stake. The problem is that high issuance is actually an indirect expense to the entire network, potentially diluting the value of the token. Even if you successfully address these challenges, you may still have fewer validators than you would like in the early stages. The scarcity of validators reduces network security and makes it more vulnerable to majority attacks. Beyond that, you need to consider other factors, such as geographic distribution of validators, creating secure and audited client software, and, depending on your project, planning infrastructure elements including data availability, transaction ordering, confirmation services, and block proposals. Similar to internet startups before AWS, these steps are time-consuming and resource-intensive, and they are not directly related to the core problem your network is trying to solve. Security as a Service Recently, I explored how the Internet has spawned a new generation of businesses (platforms) that create value by efficiently connecting supply and demand. In the scenario we just discussed, there is a group of validators - the "supply side" who want to make money by providing technical services while minimizing financial risk. The "demand side" is emerging blockchain protocols that want to find trusted and reliable validators to protect their network security. EigenLayer, as a platform, fills this gap, connecting validators (called "operators") with networks seeking their services (called "active verification services" or AVS). Now, back to the perspective of new protocol developers: First, EigenLayer provides a group of verified and trusted validators (i.e. "operators") who promise to verify multiple services, including emerging services. This solves your initial problem: how to find reliable validators? Second, EigenLayer's most important breakthrough is to separate "rewards" from "punishments". Operators do not need to pledge your native tokens to protect your network. EigenLayer requires them to deposit (or attract pledges) existing assets such as ETH and Liquid Staking Tokens (LST). In the event of malicious behavior, these assets will be slashed. This separation means that stakers and operators avoid the risk of holding additional new tokens, and they can earn additional returns by holding mature assets they already trust. (Saurabh’s analysis of intersubjectivity explains how EigenLayer improves capital efficiency.) From a protocol perspective, this model eliminates the need to compensate validators by issuing tokens (which can lead to token inflation). Instead, you benefit from the stronger security guarantees provided by ETH as collateral. In fact, this flexibility even allows you to choose not to issue tokens if you don’t want to! Finally, you can carefully select the cluster of operators based on the security needs of your specific product. You can weigh the validators’ technical capabilities, the size of the assets staked, their geographic location, and their security record in other networks before integrating them into your network. Compared to the daunting task of building a network from scratch, this selectivity is a luxury. When one security risk is mitigated, another risk arises - dependence on EigenLayer itself. However, EigenLayer is not an independent blockchain, but a set of smart contracts deployed on Ethereum. Ethereum has more than 6,000 nodes and 86 billion US dollars of financial support. Although smart contract risks still exist, Ethereum itself is the safest existence in the blockchain. You might ask: What are “rewards”? How does the economic model built on EigenLayer work? The protocol can reward operators and delegators with any ERC-20 token. In practice, this leaves AVS with two options: Distribute rewards with established tokens such as ETH or stablecoins. In this case, the relationship between operators and AVS is transactional - operators provide services and AVS pays them in widely accepted currencies. EigenDA, the first AVS, launched operator rewards by distributing ETH to operators and delegators. Distribute rewards with its own tokens. This approach is closer to the economic model of traditional crypto networks, and while this model gives AVS the flexibility to pay for security through token issuance (rather than directly using the cost of ETH/stablecoins), they must also convince operators that their tokens will maintain their value. Failing to do this, it will be difficult to attract operators, as they are likely to sell AVS tokens immediately after receiving them. Initially, 10% of AVS rewards will be distributed to operators and the rest to stakers, but this parameter will become flexible in the future. In addition, to "enhance incentive alignment", EigenLayer plans to distribute rewards equivalent to 4% of the initial $EIGEN supply to encourage delegators and operators to participate in the network. EigenLayer's strong value proposition has attracted a variety of projects seeking to deploy as AVS. The list includes some common projects - such as rolling chains, data availability services, bridges, oracle networks, and ordering layers that require operator services. However, given that operators can theoretically support any type of computation (not limited to state transitions), we have also witnessed many innovative and experimental projects using EigenLayer for development. These projects include decentralized physical infrastructure (DePin) networks, AI inference engines, zero-knowledge proof coprocessors, privacy-oriented protocols (including TEE, FHE, MPC), zkTLS networks, and even policy engines for smart contracts. The Great Liberator Earlier, I made a relatively bold claim that AWS had changed the nature of capitalism. Before AWS, high capital requirements to start a company meant that founders either self-funded or received investment from outside sources (friends, family, venture capital). This financial barrier effectively excluded a large portion of the global population from Internet entrepreneurship, making it an activity exclusive to the wealthy or privileged. By dismantling these constraints, AWS not only simplified the process for existing entrepreneurs—a relatively small group—but also unleashed the creativity and imagination of many who had previously considered entrepreneurship beyond their reach. This democratization spawned a wave of entrepreneurial experimentation. While many projects failed, the ones that succeeded drove unprecedented increases in economic productivity and human convenience. From the perspective of an individual entrepreneur, cloud computing opens up a range of options - from trying to build the next billion dollar business, to individual developers like Pieter Levels making millions of dollars per year, or anything in between. We are excited about EigenLayer and AVS because they unlock similar opportunities for trustless distributed networks. Do you have an idea that requires multiple computers to run without trusting each other? Now you can quickly implement it with AVS. From governance chains to zkTLS networks, we are witnessing many experiments that may not have been feasible before. As more entrepreneurs realize the significant reduction in human and financial capital required to build such systems, we expect more experiments to emerge. Most will fail. But there are always a few who will guide the future direction of this industry.
Web3's "AWS Moment", How Does EigenLayer Liberate Crypto Entrepreneurship?According to ChainCatcher, on-chain analyst @ai_9684xtpa has monitored that in the past hour, Sun Yuchen's six addresses have transferred a total of 5.37 million EIGEN, worth $7.78 million. It is currently unclear whether the receiving address belongs to the exchange. If sold at the current price of $4.13, a profit of $22.19 million will be made.
Justin Sun transferred 5.37 million EIGEN to his address and sold them for a profit of $22.19 millionAccording to BlockBeats, on October 1, the Eigen Foundation announced that it will provide incentives for EIGEN in the future. Transferability: EIGEN can now be freely transferred, traded or pledged, providing greater flexibility for participants in the entire ecosystem; Open innovation: Unlock enables the community and developers to actively shape the future of EigenLayer by creating new decentralized services on its flexible crypto-economic security layer. This enables the development of AVS to leverage the security of pledged assets and expand potential applications in the ecosystem; Collaboration: By encouraging developers, builders, and early adopters to use EIGEN for a variety of execution and verification tasks, the transferability of EIGEN enhances opportunities between them.
Eigen Foundation: Incentives will be provided for EIGEN in the futureCrypto founders are increasingly looking into geofencing — the act of blocking users in certain jurisdictions — as an “extreme solution” to regulatory uncertainty in the United States. In a post on X on Sept. 30, Variant Fund chief legal officer Jake Chervinsky said that many crypto founders are considering using geofencing as a compliance strategy as regulators in the United States continue their war on crypto. In simple terms, geofencing means stopping people in a certain “geography” from accessing a product by creating a virtual “fence” around it, he explained while sharing a guide summarizing how to properly geofence. It can be used as a fallback option for a compliance strategy if a company cannot comply with regulations such as providing disclosures and KYC (Know Your Customer). The company or protocol could simply block users in a country that has strict compliance requirements, in this case, the United States. However, Chervinsky said it was an extreme solution: “It’s a pretty extreme solution to the problem of regulatory uncertainty — completely abandoning the US market — but sometimes there’s just no other way.” In 2023, 17 jurisdictions representing 70% of global crypto exposure tightened their crypto regulations, according to TRM Labs. DeFi protocol Sky, which rebranded from Maker in August, courted criticism after blocking VPN access for its Spark Protocol. This was done in an effort to prevent US users from accessing the protocol, but it also blocks all IP addresses associated with VPNs regardless of location. Source: sky.money The world’s largest crypto exchange, Binance, also geofences displaying the notice “Binance.com is unavailable in your country or region” if a user were to try to access it from a US IP address. Meanwhile, Ethereum restaking protocol Eigenlayer blocked users from 30 countries including the US, Canada, China, and Russia from claiming its airdrop in April. The Solana-based decentralized exchange Orca has also blocked US users from trading using its web interface. Related: 6 things the US needs to stay competitive in crypto, according to execs Chervinsky’s geofencing guide offers some best practices for geofencing, which include using available information such as IP addresses and GPS data to identify US users and blocking them using multiple methods such as IP blocking, attestations, and VPN monitoring. It also suggested using infrastructure outside the United States, minimizing American-based hardware and personnel, and using non-US servers and cloud services. Adopting a geofencing strategy can have some advantages for the company, however. “Tailored geofences using advanced geolocation data help crypto firms expand into new markets while maintaining compliance,” said compliance solutions provider GeoComply in a September blog post. Nevertheless, geofencing “is an extreme and costly measure to ensure compliance with US law,” concluded Chervinsky. Magazine: How Chinese traders and miners get around China’s crypto ban
Crypto founders increasingly look to ‘geofencing’ amid US uncertaintyOdaily News: CoinGecko data shows that EIGEN's trading volume has exceeded 148 million US dollars since its launch, with a market value of approximately 784 million US dollars and FDV exceeding 7 billion US dollars. EIGEN is currently reported at 4.29 US dollars.
EIGEN FDV exceeds $7 billion, with transaction volume exceeding $148 millionOdaily Planet Daily News According to official news, Mantle distributed 2,098,636.67 EIGEN in two phases as a reward for the community to adopt its Ethereum liquidity staking token mETH (staking another 100,000 mETH on EigenLayer through Mantle Treasury). In addition, additional EigenLayer points were also allocated to Pendle's USDe pool. These initiatives allow users to enjoy higher native returns in a wide range of protocols and maintain exposure to EIGEN, and even allow them to earn more EigenLayer points on average. Eligible mETH holders will be able to claim EIGEN at 16:00 on October 1. There are three types of reward distribution: -Phase 1 for eligible users who hold mETH on the Mantle network between February 9, 2024 and March 15, 2024: 1,077,480.69 EIGEN; -Phase 2 for eligible users who hold mETH on the Mantle network between March 16, 2024 and September 25, 2024: 1,021,155.98 EIGEN; -Eligible users who have USDe positions on Pendle through the Mantle network. Please note that all claims will end on March 16, 2025. Any unclaimed EIGEN will be reallocated to the Mantle Treasury.
Mantle distributed more than 2.09 million EIGEN in two phases, and the claim will be open at 16:00 todayThe EIGENUSDT futures trading pair will be launched on October 1, 2024, 13:30 (UTC+8), with a maximum leverage of 75. EIGEN spot margin trading, trading bots, and copy trading will be available on October 2, 12:00 (UTC+8), October 2, 12:00 (UTC+8), and October 2, 12:00 (UTC+8), respectively. Spot margin trading: EIGEN/USDT spot margin trading will be available on October 2, 2024, 12:00 (UTC+8). Users can borrow USDT to go long on EIGEN or borrow EIGEN to go short to magnify their returns. Head to the margin information page to view spot margin trading information such as interest rates, maintenance margin rates, and limits. Trading bots: EIGEN/USDT spot and futures trading bots will be available on October 2, 2024, 12:00 (UTC+8). Crash Course on Spot Grid: What is Spot Grid Trading? Copy trading EIGEN/USDT will be available for spot copy trading on October 2, 2024, 12:00(UTC+8). EIGENUSDT will be available for futures copy trading on October 2, 2024, 12:00 (UTC+8). Futures copy trading Futures elite traders can make elite trades involving the aforementioned trading pair. Spot copy trading Spot elite traders can make elite trades involving the aforementioned trading pair. Start copy trading now Apply to become an elite trader and earn a 20% profit share EIGENUSDT-M perpetual futures: Parameters Details Listing time October 1, 2024 13:30 (UTC+8) Underlying asset EIGEN Settlement asset USDT Tick size 0.0001 Maximum leverage 75x Funding fee settlement frequency Every eight hours Trading time 7*24 Depending on market risk conditions, Bitget may adjust the parameters from time to time, which may include the tick size, maximum leverage, and maintenance margin rate. USDT-M Futures - Trade using USDT for all pairs.You can use USDT to trade multiple trading pairs at the same time, in which multiple futures share the same account equity, profit, loss, and risks. References: Bitget USDT-M Futures trading Futures trading risk warning All assets will be reviewed based on actual market conditions prior to listing. The estimated listing time in announcements and products are for reference purposes only and are subject to the actual listing, which may deviate from the announcement without further notice. Thank you for your support and interest in Bitget! Disclaimer Cryptocurrencies are subject to high market risk and volatility despite high growth potential. Users should conduct their own research and invest at their own discretion. Bitget shall not be liable for any investment losses. Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow us on Twitter >>> Join our Community >>>
Bitget announcement on adding support for EIGEN futures trading, spot margin trading, copy trading, and trading botsAccording to BlockBeats, on October 1, according to official news, Renzo is about to launch the EIGEN liquidity re-staking token ezEIGEN, which will automatically compound EIGEN staking rewards every week.
Renzo is about to launch EIGEN liquidity re-staking token ezEIGENAccording to BlockBeats, on October 1, according to market information, EigenLayer (EIGEN) tokens were open for transfer, 15 minutes earlier than the previously announced 12 o'clock.
EIGEN tokens are now available for transferAccording to BlockBeats, on October 1, Etherscan data showed that the current Ethereum network gas fee has risen to 62.5 gwei, possibly affected by the news of "EIGEN token open transfer".
Affected by the news of "EIGEN token open transfer", the Ethereum network gas fee rose to 62.5 gweiAccording to ChainCatcher, according to Dune panel data, 95.74 million EIGEN tokens of EigenLayer have been claimed in Stakedrop1, and Stakedrop2 claims are in progress. The current claim rate is 27.1%, about 23.306 million EIGEN. Currently, there are 69.25 million EIGEN in the pledged and unlocked state, and the current circulation of EIGEN tokens is about 49.796 million.
Data: There are nearly 50 million EIGEN tokens in circulationPANews reported on October 1 that according to on-chain analyst @ai_9684xtpa, EIGEN will open token transfers today. Currently, there are three suspected market makers, with a total of 6.48 million EIGEN allocated for market making: Flow Traders: 3.45 million Auros Global: 1.6 million Unknown market makers: 1.43 million
It is suspected that three market makers have allocated a total of 6.48 million EIGEN for market makingOriginal | Odaily Planet Daily ( @OdailyChina ) Author: Azuma ( @azuma_eth ) EigenLayers protocol token EIGEN will officially enter circulation today. According to the official disclosure of the Eigen Foundation, the transfer restrictions of EIGEN are expected to be removed at 21:00 PST time on September 30, 2024 (13:00 Beijing time on October 1). Since EigenLayer has previously conducted two rounds of large-scale airdrops, and the protocol has activated the re-staking function of EIGEN tokens before lifting transfer restrictions, there is a certain misunderstanding in the market about the actual circulation data of EIGEN. In order to dispel this information fog, Kairos Research, a cryptographic analysis agency, recently conducted a round of analysis on the actual circulation status of EIGEN based on EIGENs airdrop claim rate and pledge data. However, due to the approaching unlocking date, the real-time data changes very quickly, so we will combine Kairos Researchs data model to recalculate the circulation status of EIGEN a few hours before the opening. In addition, Odaily Planet Daily will also sort out potential events and nodes that may cause the expansion of EIGENs circulation in the future , hoping to help everyones decision-making. Airdrop claim status First of all, the EIGEN currently in circulation all come from two rounds of airdrop activities ( Stakedrop 1, Stakedrop 2), of which Stakedrop 1 was originally planned to release 113 million EIGEN (6.75%), and Stakedrop 2 was originally planned to release 86 million EIGEN, totaling approximately 200 million EIGEN, accounting for approximately 11.9% of the total supply of 1.67 billion Genesis coins. However, this data does not represent the actual circulation status, because there are a large number of unclaimed shares in both seasons of airdrops. Among them, the claim window for Stakedrop 1 was closed at 23:59 PST on September 7 (14:59 Beijing time on September 8). Dune data showed that the final claim rate was about 85.4%, which means that approximately 95.74 million EIGEN were released. Currently, the claim for Stakedrop 2 is still in progress, but the real-time claim rate is temporarily only 27%, which means 23.26 million EIGEN will be released. In summary, the total amount of EIGEN claimed in the two seasons of airdrops is about 119 million, accounting for about 7% of the total supply of Genesis. EIGEN re-staking status From the calculation in the previous part, we can know that the EIGEN data released through airdrops is about 119 million, but this is still not the actual circulation data of EIGEN at present, because EigenLayer has activated the re-staking function of EIGEN tokens very early and attracted most of the coin holders to re-stake. Since there is a 7-day cooling-off period before unstaking, the EIGEN currently being re-staked is in a restricted circulation state. Dune data shows that the number of EIGEN tokens currently in re-staking status is about 69.36 million - this means that there are actually only about 49.64 million EIGEN in full circulation at present, accounting for about 3% of the total supply of Genesis. Latent variable analysis and monitoring It should be emphasized that the above analysis of EIGENs circulating data is limited to the analysis of EIGEN shares that are currently in full circulation. From a technical point of view, there are actually still several types of shares that can enter circulation at any time. These shares may affect the real-time circulating data at any time, so it is necessary to further monitor this. The first potential variable is the airdrop claim rate of Stakedrop 2. EIGEN claimed through this round of airdrops will be able to flow directly to the market. This data is recommended to be monitored through Dune s data dashboard. There is a key time node here, that is, the external address claim for node operators in Stakedrop 2 will be opened on October 6, which may be a larger circulation variable. Odaily Note: The so-called external address claim means that EigenLayer allows Operators to use new addresses to receive airdrops without directly connecting the operators main address to the claim interface. The second type of variable is the unstaking status of EIGEN in the re-staking state . In fact, judging from the data in recent days, a small peak in unstaking has arrived. It is still recommended to monitor this data through the Dune dashboard. The third type of variable is the incentive plan that EigenLayer will launch in October . The plan aims to issue EIGEN incentives to qualified stakers and operating nodes on a weekly basis. EigenLayer officials said that the incentive will implement retroactive rewards based on the staking situation since August 15, 2024, and the first batch of rewards will be available every week starting in October. In the first year of the implementation of the plan, it is expected that approximately 6,695 EIGEN will be distributed, equivalent to 4% of the initial supply of EIGEN tokens. Although the amount of EIGEN released by this incentive plan is large, considering that the plan adopts a quasi-linear release mechanism based on weeks, the impact on the circulating disk data in the early stage will not be too great. Risk Warning Based on the above, it is estimated that only about 49.64 million EIGEN tokens will be in full circulation after the transfer restrictions are lifted this afternoon, accounting for about 3% of the total supply of Genesis. Based on the current valuation of around $4 in major pre-market trading markets, the initial circulation size is expected to be about $200 million. Considering the fundamentals of EigenLayer and its market popularity, it is expected that EIGEN will usher in a round of fierce price competition after the opening of major exchanges. Investors are advised to be alert to volatility risks. As for the next few days, multiple potential variables may affect the current circulating stock situation. Odaily recommends that investors actively monitor real-time trends and make trading decisions prudently.
EIGEN lifts transfer restrictions today and analyzes real-time circulating disk dataEigenLayer (CRYPTO:EIGEN), the Ethereum (CRYPTO:ETH) restaking protocol, is preparing to unlock its native EIGEN token on October 1 at 5:00 am UTC. The token, which has been nontransferable since its May launch, will soon begin trading on major centralized exchanges such as Binance and Bitfinex. According to derivative markets on decentralised exchanges like Aevo (CRYPTO:AEVO) and Hyperliquid, the token is expected to debut with a price of approximately $4. EIGEN-linked perpetual futures, or "perps," have been climbing in value throughout September, nearly doubling from their lows of around $2. The 24-hour trading volume of EIGEN perps across Aevo and Hyperliquid has reached approximately $1 million, though some market participants suggest this volume may not fully reflect the broader market dynamics. Over-the-counter (OTC) trades in August priced EIGEN at $2 per token, rising to around $3.50 by late September. With 200 million EIGEN tokens in circulation, the fully diluted valuation (FDV) of the token is projected to exceed $6.8 billion. This valuation is based on the total supply of 1.67 billion tokens. Market observers anticipate volatility in the early stages of EIGEN's trading. Aylo, the pseudonymous founder of Alpha Please, commented that while some airdrop recipients might sell their tokens, there will likely be strong interest in buying EIGEN at discounted prices for long-term holding. "There will be a lot of interest in picking up cheap EIGEN for the rest of the cycle," Aylo said in a recent post on X. EigenLayer's ecosystem continues to expand. As of September 30, it held nearly $12 billion in total value locked (TVL), according to DefiLlama. EigenDA, a service within EigenLayer's network, has begun distributing rewards to restakers in Ether (ETH) and EIGEN, while additional protocols, such as Arpa Network, are following suit. Aylo also noted that over 60 projects are now building on EigenLayer, which could increase the protocol's valuation beyond current expectations.
EigenLayer's $6.8B EIGEN token set for unlockBitget will open the trading of EIGEN/USDT on 1 October 2024, 04:00 (UTC). Thank you for your attention. Disclaimer Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk. Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow us on Twitter >>> Join our Community >>>
Notice on Trading time for EIGEN/USDTBitget will set the pre market delivery time for EIGEN/USDT on 1 October 2024, 09:00 (UTC). Thank you for your attention. Disclaimer Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk. Join Bitget, the World's Leading Crypto Exchange and Web3 Company Sign up on Bitget now >>> Follow us on Twitter >>> Join our Community >>>
Notice on the Pre Market Delivery time for EIGEN/USDTDelivery scenarios