EigenLayer Will Open Token Registration on May 10, Allocate 45% for Community

Bittime - EigenLayer , a platform that is currently being widely discussed regarding restaking innovation, plans to open token registration (token application) on May 10. Check out the token allocation and other details in this news.

Eigen Foundation: Token Issuing Entity

The entity that will issue Eigen tokens is the Eigen Foundation, a newly formed independent non-profit organization. The total supply of Eigen tokens at launch will be 1.67 billion tokens.

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Token Allocation for Community

Good news for the community! As much as 45% of the total Eigen tokens are allocated to the community. This allocation is further divided into:

• 15% for Stakedrop (Equity Investment) : Token ownership mechanism through staking.
• 15% for Community Initiatives : Supports the development of the EigenLayer project and community.
• 15% for Ecosystem Development : Drive the growth and adoption of restaking technology.

Allocation to Investors and Initial Contributors

Apart from the allocation to the community, the remaining Eigen tokens are allocated as follows:

• 29.5% for Investors : Allocated to investors who have supported EigenLayer funding.
• 25.5% for Early Contributors : Allocated to parties who contributed to the development of EigenLayer in the early stages.

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Token Lockup Period

It should be noted that all tokens allocated to investors and early contributors have a lockup period of three years. During the first year, all tokens will be locked. 

In the next two years, tokens will be unlocked in stages every month at a rate of 4%. In other words, investors and early contributors cannot immediately trade all the tokens they receive.

Exciting Opportunities for the Community

The significant token allocation to the community shows EigenLayer's commitment to building a decentralized ecosystem and providing benefits to its supporters. The opening of token registration on May 10 will certainly be an interesting opportunity for community participants to get further involved in the EigenLayer project.

Conclusion

Although EigenLayer has announced plans to open token registration, technical details regarding the registration process and token ownership mechanism have not yet been fully published. It is hoped that the latest information will be announced by the EigenLayer team in the near future.

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Learn  Complete Guide How to Buy Crypto on Bittime . 

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DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.