Key points:
EigenLayer token transfer restrictions end on September 30
Once transferability is activated, stakeholders can trade and transfer their tokens.
EigenLayer token transfer restrictions end on Sept. 30, enabling stakeholders to trade and transfer EIGEN tokens, including staked rewards, with a 7-day unstaking period.
EigenLayer Token Transferability Goes Live on September 30
EigenLayer is about to lift transfer restrictions on the EIGEN token, enabling stakeholders to start trading and transferring their tokens. Keep in mind that this affects airdropped rewards, too. Those who have staked EIGEN tokens will be required to undergo a 7-day unstaking period before these tokens will be free to move.
This comes after the distribution of 86 million EIGEN tokens during the protocol’s second non-transferable stakedrop season. With a total token supply of 1.67 billion, EigenLayer aims to secure third-party networks with a crypto-economic security system.
Read more: Eigen Labs Employee Accused of Pressuring Projects, EigenLayer Immediately Denies
EigenLayer Prepares for Token Transfer as Value Locked Declines
This pre-market platform prices its token derivatives at $3.4 and calculates its full diluted valuation at $5.4 billion with EigenLayer turning on the transferability of the EIGEN token. The protocol’s total value locked recently fell from $20 billion to $12 billion following significant outflows.
Even though the value locked has declined, EigenLayer is one of the most vital platforms for staking ether to secure other networks. The update on token transferability is a further critical development of its growth in the future.
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