Farcaster

EigenLayer has been criticized after it was revealed that the pledge rewards received by early investors are not subject to token locking. Investors and community members have complained about the lack of transparency in the supply of EigenLayer tokens. The total supply of EIGEN is fixed at 1.68 billion, with a circulation of 186 million, FDV reaching $5.8 billion and a market cap (excluding uncirculated tokens) of $650 million. Many of the questions raised by community members stem from some of these locked-in tokens, which were purchased by early investors in heavily discounted funding rounds. Investors who bought in EigenLayer's $14.4 million seed round, $50 million Series A round, and the latest $100 million round in February can now pledge their locked tokens for a return. A total of 130 million EIGEN tokens are currently pledged. Many people think these are all part of the claimed tokens, but in fact, 70 million of them belong to this small group of early investors.