EigenLayer Tokens to Be Released in Coming Hours, Futures Trade at Fully Diluted $6.8B

• The token is trading at $4.11 on Aevo with a fully diluted value (FDV) of $6.8 billion.
• Early adopters have been earmarked for 5% of the total supply.
• Trading on centralized exchanges will go live at 05:00 UTC Tuesday.

Restaking protocol Eigenlayer will unlock its highly anticipated token, EIGEN, at 9 p.m. PST on Monday (04:00 UTC on Tuesday) and trading is set to start on Binance an hour later.

EigenLayer lets users stake ether {{ETH}}, which can be repurposed to secure other networks and secure additional rewards. The total value locked (TVL) on the protocol has dropped by more than 50% since June as a result of increased competition and a wider slump across the restaking sector. It currently has around $10 billion in TVL.

Total supply of the token will be 1.6 billion, with 86 million allocated to early adopters, who will receive a recently announced airdrop dubbed "stakedrop."

The price, which is likely to be volatile on release, is currently $4.11 according to a market on perpetual exchange Aevo, which has only racked up $191,000 in trading volume over the last 24 hours. It is currently trading at a fully diluted value (FDV) of $6.8 billion.