CDS Crypto News Crypto News – The Future of Staking: Eigen Token Claims on EigenDA
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Crypto News – The Future of Staking: Eigen Token Claims on EigenDA

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Crypto News - The Future of Staking: Eigen Token Claims on EigenDA

Crypto News – How does EigenDA Accept Staking Delegations after Eigen Token Claims Open Today?

Crypto News – With the project’s announcement last month of its distribution and “stake drop” plan, claims for EigenLayer‘s native tokens are now open. The Eigen Foundation has previously said that the tokens are non-transferable once they are claimed and will remain so until the end of the third quarter. September 30, 2024, is the anticipated release date for token transfer capability.

Crypto News - How Does EigenDA Accept Staking Delegations After Eigen Token Claims Open Today?
Crypto News - The Future of Staking: Eigen Token Claims on EigenDA 1

The Eigen Foundation states that 1.67 billion Eigen tokens will be available at launch. Forty-five percent of the token supply is reserved for the network’s ecosystem and community. 15% of this total was set aside for “stakedrops,” of which only 5% were made accessible during the first season (claims open today). 15% more is set aside for ecosystem growth and another 15% for community projects. In contrast, 25.5% was set aside for early contributors, and 29.5% went to early investors.

EigenDA to be the Only AVS Using EIGEN Core

Users can still start staking and delegating to the operators of EigenDA, the network’s actively validated native data availability solution, after claiming their tokens today. In order for users to support EigenDA, they need to visit the EigenLayer online portal to assign their stake to a platform operator.

At launch, EigenDA will be the only AVS that uses an EIGEN quorum. We expect other AVSs to follow soon,

the project

EigenLayer circumvents the difficulties of creating their own proof-of-stake projects by allowing them to easily establish security through connections to a larger trust network. Inter-subjective forking, another crypto-economic innovation that bolsters the security of the AVS ecosystem with ether restaking, was also introduced with the Eigen token.

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What is Delegation in Staking?

Through the use of a delegation pool, the stake owner is abstracted to a third party that can gather stakes from delegators and add it to the native stake pool that is connected to the validator. This enables several organizations to come together to create a stake pool that satisfies the minimal standards needed for the validator to become a member of the validator group.

What is EigenLayer?

In order to strengthen security for other protocols, EigenLayer is an Ethereum-based protocol that enables ETH stakers to reallocate their staked ETH and Liquid Staking Tokens (LSTs) through a restaking mechanism.

Crypto News - The Future of Staking: Eigen Token Claims on EigenDA
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lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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