Eigenlayer introduces EIGEN Token aimed at NFT Owners

Eigenlayer, a staking protocol belonging to Ethereum, has already prepared for a new coin called EIGEN as the white paper was released on April 29. The token is the choice of apps based on inter-subjective collaborations like prediction market, a virtual machine for games, and storage.

However, residents of countries such as the United States and Canada are not the target of the forthcoming airdrop.

Moreover, EIGEN’s coin will help NFT owners obtain exclusive rights to profit 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 increase their staking balances by sending their Ether to Eigenlayer and receiving a reward while validating transactions on both networks.

Furthermore, Eigenlayer claims it is useful for making agreements among people on statements that cannot be verified on-chain but through real persons’ efforts, like “1 BTC = 1 USD.” Unlike the Reputation token (REP) by Augur, Eigenlayer is intended to be more versatile and can be used across prediction markets and other applications.

A few EIGEN tokens from the total supply (5%) are currently distributed among users who have locked up their ETH, and in “Season 2,” additional tokens will be allocated to all participants. Nevertheless, the date for Season 2 and its completion is not revealed.

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