Eigenlayer, a staking mechanism connected to Ethereum, has been prepared for a new coin named EIGEN as the white paper was issued on April 29.
The token is the choice of programs based on inter-subjective cooperation like prediction market, a virtual machine for gaming, and storage. Moreover, EIGEN’s coin will let NFT owners get exclusive rights to benefit from their NFTs, which was previously a CC0 copyright policy adopted by MoonBirds Tokyo NFTs.
It operates on the Ethereum blockchain. EtherHunt is the way users can build their staking holdings by submitting their Ether to Eigenlayer and collecting a reward while confirming transactions on both networks.
However, inhabitants of countries such as the United States and Canada are not the target of the planned airdrop.
A few EIGEN tokens from the entire supply (5%) are now distributed among individuals who have locked up their ETH, and in “Season 2,” further tokens will be issued to all participants. Nevertheless, the date for Season 2 and its completion is not announced.
Furthermore, Eigenlayer argues it is useful for creating agreements among individuals on statements that cannot be validated on-chain but through real persons’ efforts, like “1 BTC = 1 USD.” Unlike the Reputation token (REP) from Augur, Eigenlayer is meant to be more adaptable and can be utilized across prediction markets and other applications.
Read also: EigenLayer Secures Over $10 Billion in Total Locked Value
