EigenLayer Reveals Details of Second EIGEN Stakedrop

Ethereum restaking protocol EigenLayer is set to distribute 86 million EIGEN tokens later this month to users who participated in the second season of its airdrop campaign.

Stakers and operators, who play a vital role in maintaining the network's security, have been allocated approximately 70 million EIGEN, representing 4.2% of the total supply. Claims will open on or before September 17, 2024, according to a blog post from the Eigen Foundation.

Ecosystem partners, consisting of assorted stakeholders, including AVSs, LRTs, Rollups, and RaaS providers involved with the EigenLayer ecosystem, have been slated to receive up to 10 million EIGEN. Finally, early supporters and contributors are to receive 6 million EIGEN.

EigenLayer is DeFi’s third-largest protocol after Lido and Aave, with more than $11 billion in total value locked. It enables users to restake their ETH to earn additional rewards by securing third-party protocols dubbed Actively Validated Services (AVS).

The protocol’s TVL peaked at 5.4 million ETH ($20 billion) in June, a month after it launched the EIGEN token, which is yet to commence trading.

Ethena Parters with EigenLayer and EtherFi

In a bid to introduce non-volatile assets into the restaking ecosystem, USDe issuer Ethena is collaborating with EigenLayer and EtherFi, the largest liquid restaking (LRT) protocol with $5.7 billion in TVL.

Users will soon be able to deposit Ethena’s USDe synthetic dollar, which boasts a market capitalization of $2.7 billion, into EtherFi in exchange for eUSD, a new LRT. Holders will earn rewards in the form of 20x Ethena sats, as well as Ether.fi and EigenLayer points