Markets News Report
February 19, 2024

EigenLayer Points Post EIGEN Airdrop Could Reach $1B, Potentially Yielding $0.1 to Users

In Brief

The potential value of EigenLayer (EIGEN) points could amount to $1 billion, indicating that each point could yield $0.1 to the user.

EigenLayer Points Post EIGEN Airdrop Could Reach $1B, Potentially Yielding $0.1 to Users

The potential value of restaking protocol on the Ethereum (ETH) blockchain EigenLayer (EIGEN) points following the release of EIGEN could amount to $1 billion, indicating that each point could yield $0.1 to the user.

Presently, EigenLayer issues 62 million points daily. Assuming the airdrop is set to occur in the next 4-6 months, this daily figure translates to approximately 1.86 billion points each month. This projection implies an accumulation of around 8 billion extra points within four months or about 12 billion points within six months.

Notably, these estimations consider the potential for an increased point emission speed, influenced by additional deposits and higher total value locked (TVL).

Although the tokenomics of EigenLayer have not been disclosed yet, there is an anticipation that around 10% of the total supply might be airdropped. Considering a total supply of 10 billion points for calculations, this would amount to a value of $1 billion, indicating that each point could potentially yield $0.1 to the user.

Additionally, the anticipated valuation of EigenLayer, following the release of EIGEN, is expected to land within the range of $10 billion to $30 billion.

EigenLayer Elevates the Landscape of Ethereum Restaking

EigenLayer’s protocol empowers users to deposit and re-stake Ethereum through liquid staking tokens, directing these funds to secure external networks and potentially gaining additional rewards. The protocol’s initial phase was introduced on the Ethereum mainnet in 2023, enabling users to deposit liquid staking tokens from Lido, Rocket Pool, and Coinbase and later expanded to include additional liquid staking tokens, including Stakewise’s sETH, Mantle‘s mETH, Frax‘s sfrxETH, Ankr’s ankrETH, and Binance’s wBETH.

In the same year, EigenLabs, the team behind EigenLayer, concluded a $50 million Series A funding round led by Blockchain Capital, resulting in a total valuation of $500 million. The protocol drew Ethereum capital totaling $1.8 billion through its points-based incentive program.

Recently, EigenLayer experienced a notable increase in popularity, coinciding with the upward trend in Ethereum restaking. The platform’s TVL has reached new heights, achieving $7.59 billion as of writing time, thereby securing a place among the top five largest restaking protocols by TVL.

With the EIGEN airdrop, EigenLayer’s trajectory, considering all the known factors, could position it as a critical player in the dynamic landscape of Ethereum restaking protocols.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

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