EigenLayer’s EIGEN Token Debuts with $6.51 Billion FDV

EIGEN, the native token of restaking protocol EigenLayer, now trades at a fully diluted value of $7.16 billion.

The token will be listed on several centralized exchanges, including Binance and MEXC, on October 1 at 05:00 UTC.

It will be listed on several centralized exchanges, including Binance and MEXC, on October 1st at 05:00 UTC. The token debuted at $3.9, with a fully diluted value of $6.51 billion.

At press time, EIGEN is trading at $4.26, up over 13 percent.

1.67 billion tokens were released, including 86 million tokens airdropped to users who interacted with the protocol earlier this year.

Unlike commonly issued governance tokens, EigenLayer is quite different as it describes EIGEN as a “Universal Intersubjective Working Token.”

The blog post shared by the protocol states that the token will solve the problems of “universality, isolation, measurement and compensation”.

EigenLayer, which witnessed position sales after airdrop criteria were met, fell from $20 billion in total value locked (TVL) to $10 billion in June.