Ethereum

$EIGEN will start trading in just 10 days on Sept 30.

With 12% of EIGEN in circulation, it will launch with a market cap of ~$600M and ~$5B FDV.

This will put EIGEN at 123rd in market cap, below $DYDX and above $NEXO.

Unfortunately, EIGEN has dropped from $10 to $3 since the first stakedrop.

Token is down probably due to two major reasons:

• General bearish market
• Increasing number of competitors (Karak and Symbiotic)

Interestingly, Eigenlayer chose to bypass Season 3 and instead opted for "Programmatic Incentives."

The remaining 67M community tokens will be distributed in the first year.

Weekly distribution: 1.29M EIGEN tokens ($3.8M USD)

• 10% (~128K EIGEN) to operators

• 90% (~1.1M EIGEN) to stakers

According to @june023_eth (on X) calculations it will give 1.4% extra APR for ETH/LST, and 16% APR for EIGEN restakers.

Inflation really starts to kick in when unlocks for insiders (VCs, team...) begin.

55% of the total supply is allocated to them at 1-year cliff and a 2-year vesting.

Patiently waiting for $Eigen to start trading