- EigenLayer will lift EIGEN token transfer restrictions on September 30, 2024.
- Stakeholders should observe a 7-day withdrawal interval to unstake EIGEN tokens.
- Pre-market values EIGEN tokens at $3.4, with TVL dropping from $20B to $12B.
EigenLayer, a distinguished restaking protocol, is about to take away transfer restrictions on its native EIGEN token, enabling stakeholders to commerce and transfer their tokens beginning on September 30.
This vital update comes after months of anticipation, notably following the protocol’s latest token distributions.
EIGEN token stay non-transferable
EigenLayer has been on the forefront of crypto innovation, permitting customers to stake their ether (ETH) to safe third-party networks and different validated companies. The platform’s native token, EIGEN, which was launched in April, performs a pivotal position on this ecosystem.
However, up till now, EIGEN tokens stay non-transferable on account of restrictions in place following two main “stakedrop” occasions. The tokens remained locked, and stakeholders couldn’t transfer or commerce them.
With the lifting of those restrictions, EIGEN holders, together with those that obtained airdropped rewards, will now have the power to handle their property freely.
For those that have staked their tokens, EigenLayer clarified {that a} necessary 7-day withdrawal interval should be noticed for unstaking EIGEN. This provides a minor delay earlier than tokens will be absolutely withdrawn and traded.
EigenLayer has skilled vital funds outflow
In pre-market buying and selling, derivatives of the EIGEN token have been valued at roughly $3.4, with a totally diluted valuation of $5.4 billion.
However, regardless of the preliminary success, EigenLayer has skilled a major outflow of funds in latest months, decreasing its whole worth locked from $20 billion in June to $12 billion.
As the transferability date approaches, the platform’s future trajectory stays carefully watched by the crypto group.
