EigenLayer’s stakedrop will distribute over 4% of its token supply to ecosystem participants.

The first-of-its-kind Ethereum staking protocol, EigenLayer, has announced season 2 of its EIGEN token ‘stakedrop.’ Ecosystem participants, like node operators, stakers, actively validated systems (AVSs), rollup solutions, open-source developers, and more, will be eligible for the airdrop, EigenLayer said in its announcement post.

“The Eigen Foundation is excited to announce the EIGEN Season 2 Stakedrop! As we approach unlock of the EIGEN token, this stakedrop recognizes and rewards the incredible contributors and participants who have supported us,” the post read.

The beneficiaries will receive about 4.2% of EIGEN’s fully diluted value (FDV), with node operators and stakers allocated the largest share, amounting to about 70 million tokens. Ecosystem partners, including projects harnessing the EigenLayer technology, will receive around 10 million. The remaining 6 million tokens will be channeled to the rest of the community, comprising the project’s early advocates, open-source developers, and other contributors.

“I view all of Web3 and crypto as building self-enforcing coordination mechanisms, which don’t rely on an authority, a council, or a majority to enforce themselves. Because it’s self-enforcing, you can make credible commitments,” EigenLayer founder Sreeram Kannan mentioned. “We recognize this is a long journey, but we have a clear northstar: our vision is to build humanity’s coordination engine, and we are excited you are with us on this journey.”

EigenLayer and Other Restaking Protocols Observe Reducing TVLs

EigenLayer’s effort to distribute its native asset to its ecosystem participants comes when it witnesses reducing total value locked (TVL) in its ecosystem. What was once over $15 billion at the time it announced its token launch and season 1 stakedrop, sits at $11.3 billion. The stakedrop can function as a tool to increase activity in the ecosystem to attract more TVL.

Other restaking protocols that have come after EigenLayer have also witnessed declining TVL.

The post EigenLayer Announces Season 2 of Its Stakedrop, Will Reward Ecosystem Participants With 86 Million Tokens appeared first on Live Bitcoin News.