Yesterday, I participated in the SatLayer meetup (feat. Bitcoin restaking).
Yesterday, I dragged my old and tired body to walk for a whole 10 minutes from the office to the @satlayer meetup.
I wasn't particularly interested in this project... but I went because of the "special gift." (Honestly, I had to look it up again because I couldn't even remember the name SatLayer while writing this.)
SatLayer is a Bitcoin restaking project.
The idea is to restake Bitcoin that has been staked through Babylon to other places that need security and receive various rewards.
In Ethereum terms, it can be compared to projects like EigenLayer or Symbiotic.
(Let's just overlook the Kaito algorithm for a moment.)
To be honest, I still don't quite understand why Bitcoin restaking is necessary. (I might not know much about this field since I'm not very interested, so please enlighten me!)
Compared to the high expectations and evaluations that Ethereum restaking received, the demand seems to be lacking. Well... it seems like they found that demand within the Ethereum mainnet itself (used as collateral for pre-confirmation), but this is somewhat different from the originally expected demand.
Even if they find good use cases and it becomes useful, I still don't quite understand what the need for SatLayer's own token is, especially after restaking what was already staked using the enormous asset of $BTC. (It's needed to give you guys airdrops!)
Anyway! The new Hashed office lounge is definitely cozy and has a great view every time I go there. I heard the food at the event was delicious (I couldn't eat because I arrived late), and the event was well organized.
The "special gift" was indeed an airdrop, and since they said they would give it, SatLayer is the best!!
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EigenLayer
Aethir is building decentralized GPU infrastructure at serious scale.
Proud to be their top partner bringing verifiable compute to the frontier of AI and Web3.
This is what trust looks like, at cloud scale.
@AethirCloud ☁️ @eigenlayer
Aethir
1 year since TGE, Aethir has built the world’s largest decentralized GPU infrastructure, powered by 150+ partnerships with top Web3 innovators.
To celebrate this, let’s take a look at some of the most exciting projects we’ve partnered with since June'24👇
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f1go.eth
ETH is in the best business in the world.
Tokenizing global wealth.
Worth $400T.
Assisted by its chads Eigenlayer, MegaETH, (Coin)Base, Arbitrum & many more.
Dream team ready to melt faces.
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OKX Ventures
DeFi's Regulatory Thaw: A New Era Begins?
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Cactus
Have been looking into mantle's liquid restaking token $cmETH allowing users to get farm exposure to HypeEVM eco...
cmETH consists of over 54% of the $10M+ TVL in HyperETH Vault
looks like a strong yield + points play
+ restaking rewards from EigenLayer, Karak, Symbiotic etc
mETH Protocol
g(c)mETH
Over 57% of deposits in the $10M+ HyperETH vault by @mizulabs and @0xHyperBeat are in cmETH 🖤
Exclusive rewards from top asset issuers and native protocols, all in one vault
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Eigen price performance in USD
The current price of Eigen is $1.3074. Since 00:00 UTC, Eigen has decreased by -4.16%. It currently has a circulating supply of 308,041,792 EIGEN and a maximum supply of 1,730,293,171 EIGEN, giving it a fully diluted market cap of $399.41M. At present, Eigen holds the 78 position in market cap rankings. The Eigen/USD price is updated in real-time.
By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.
EIGEN is a universal intersubjective work token within the EigenLayer protocol. It's called an "intersubjective" token because it's designed to address intersubjective faults in a network. These are faults where there's consistent agreement among the majority of network participants that a malicious act has been committed. As a result, EIGEN helps to secure the network by discouraging inconsistent behaviors.
The EigenLayer protocol allows stakers of ETH, the native token of the Ethereum network, to extend the network's security to other applications across the EigenLayer network through a novel concept known as restaking. Here, ETH stakers can restake their tokens to secure other protocols built on EigenLayer, without the need to build a separate validator set.
How does EIGEN work?
Where ETH is used to secure services or protocols, EIGEN helps to address intersubjective faults that deserve a penalty by introducing intersubjective staking. In this situation, stakers who act outside of the network's rules can be penalized through slashing. Slashing sees individuals lose a quantity of their staked ETH. According to the project, through this approach, the EIGEN token allows the token to be forked without forking the Ethereum mainnet consensus.
EIGEN is also used to secure EigenDA, a data availability layer that supports Ethereum rollups.
Price and tokenomics
Season one of stakedrop claims for the EIGEN token opened on May 10, 2024. Here, 6.05% of the token's total supply of 1.67 billion EIGEN were made available to eligible users. Season one phase two of the stakedrop launched in June 2024, and made a further 0.7% of the total token supply available. According to the project, future seasons will see a further 1.5% of the total EIGEN tokens released.
Alongside the 15% of tokens allocated to stakedrops, 15% will go towards community initiatives, with 15% allocated to ecosystem development. A further 29.5% will be allocated to investors, with 25.5% assigned to early contributors.
All tokens allocated to investors and core contributors will remain fully locked up for one year after the date on which the token first becomes transferrable for the community. After this date, the EIGEN tokens allocated to investors and core contributors will be unlocked at a rate of 4% per month. This means EIGEN held by investors and core contributors won’t be fully unlocked until three years after the date the tokens first become transferable for the community.
About the founders
EigenLayer was founded in 2021 by Sreeram Kannan, a former professor at the University of Washington. Kannan remains as the project's CEO today. EigenLayer is developed by Eigen Labs, a research organization "focused on contributing to protocols that supercharge open innovation on Ethereum", according to the company's official X account.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 2.3K new posts about Eigen, driven by 859 contributors, and total online engagement reached 472K social interactions. The sentiment score for Eigen currently stands at 74%. Compared to all cryptocurrencies, post volume for Eigen currently ranks at --. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Eigen.
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Posts
2,294
Contributors
859
Interactions
472,325
Sentiment
74%
Volume rank
--
X
Posts
1,843
Interactions
275,075
Sentiment
92%
Eigen FAQ
How much is 1 Eigen worth today?
Currently, one Eigen is worth $1.3074. For answers and insight into Eigen's price action, you're in the right place. Explore the latest Eigen charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Eigen, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Eigen have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates (“OKX”) are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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