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About Eigen
Disclosures
Eigen risk
This material is for informational purposes only and is not exhaustive of all risks associated with trading Eigen. All crypto assets are risky, there are general risks in investing in Eigen. These include volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk & cyber security risk. This is not intended to provide (i) investment advice or an investment recommendation; (ii) an offer or solicitation to buy, sell, or hold crypto assets; or (iii) financial, accounting, legal or tax advice. Profits may be subject to capital gains tax. You should carefully consider whether trading or holding crypto assets is suitable for you in light of your financial situation. Please review the Risk Summary for additional information.
Investment Risk
The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
Lack of Protections
Crypto assets are largely unregulated and neither the Financial Services Compensation Scheme (FSCS) nor the Financial Ombudsman Service (FOS) will protect you in the event something goes wrong with your crypto asset investments.
Liquidity Risk
There is no guarantee that investments in crypto assets can be easily sold at any given time.
Complexity
Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment. You should do your own research before investing. If something sounds too good to be true, it probably is.
Concentration Risk
Don't put all your eggs in one basket. Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well. A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
Five questions to ask yourself
- Am I comfortable with the level of risk? Can I afford to lose my money?
- Do I understand the investment and could I get my money out easily?
- Are my investments regulated?
- Am I protected if the investment provider or my adviser goes out of business?
- Should I get financial advice?
DeFi tokens
Decentralised Finance ("DeFi") tokens are crypto assets built on decentralised blockchain technology for financial applications or protocols. Risks linked to DeFi tokens include:
Enterprise Risk
Interactions between multiple DeFi protocols create a situation where a vulnerability or breakdown in one protocol can trigger a cascading effect, affecting other interconnected platforms.
Technology Risk
DeFi protocols frequently depend on external data sources or oracles, and any tampering or inaccuracies in these data streams can result in a lack of trust and reliability in the protocols.
Regulatory Risk
Governments and regulatory bodies around the world can introduce new regulations or ban certain aspects of the cryptocurrency market, affecting its legality and viability, which could affect token liquidity and/or value.
Legal Risk
Certain tokens may be used for operating a decentralised exchange platform which may contain additional risks:
- The platform may allow users to participate who have not been vetted or verified and therefore expose the possibility that users are interacting with sanctioned entities.
- The platform may be accessible in jurisdictions where some or all the exchange activity should be regulated. If a local regulator deemed the platform activity to be in breach of local regulation, they may request cessation or termination of the service which could affect token liquidity and/or value.
Market Risk
Given their novelty, the evolving technology involved and lack traditional asset structure, valuing crypto assets can be very difficult or impossible. This means valuations are determined by demand that is at risk of manipulation in various ways.
Eigen’s price performance
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Eigen FAQ
Dive deeper into Eigen
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.
Disclaimer
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