Eigen Foundation pledges 1% of EIGEN token equaling $8M to support Ethereum development
Eigen Foundation pledges 1% of EIGEN token equaling $8M to enhance Ethereum kind Eigen Foundation pledges 1% of EIGEN token equaling $8M to enhance Ethereum kind
The Eigen Foundation targets to retain and approach Ethereum's core kind thru its donation.
Duvet art work/illustration by strategy of CryptoSlate. Image involves mixed shriek material that can perhaps well perhaps embody AI-generated shriek material.
The Eigen Foundation has dedicated 1% of its EIGEN token present to the Protocol Guild, a neighborhood dedicated to Ethereum Layer-1 be taught and kind.
Per CryptoSlate data, the EIGEN token has a complete present exceeding 1.6 billion. With this pledge, the Protocol Guild would possibly well receive as much as 1.6 million EIGEN tokens, valued at approximately $8 million, according to the contemporary tag of $5 per token.
The Eigen Foundation talked about that the transaction for this pledge will be performed quickly.
Supporting Ethereum kind
In a Dec. 13 post on X (formerly Twitter), the Foundation defined that the pledge reinforces its perform of supporting the Ethereum ecosystem’s utter and sustainability thru funding the Guild.
The Protocol Guild plays a a need to hold position in Ethereum’s kind by funding initiatives and contributors. It at speak involves over 180 participants from 29 groups across the crypto remark, supporting initiatives equivalent to consumer kind, be taught, specifications, checking out, and coordination.
The Foundation highlighted the continued tendencies in Ethereum, equivalent to zk-proofs, decentralized storage, and rollups. It expressed pride in supporting builders shaping the long escape of Ethereum thru the Protocol Guild.
This pledge targets to assign obvious that the Protocol Guild continues providing consistent funding for Ethereum’s decentralized infrastructure maintainers. It talked about:
“At Eigen Foundation, we half the belief that a decentralized future relies on solid, well-supported infrastructure. By pledging 1% of EIGEN present, we perform to attend the Protocol Guild retain Ethereumâs core kind and protect its decentralized future.”
EigenLayer, the Foundation’s flagship platform, lets in users to restake ETH to accurate third-celebration networks. Per DeFillama data, the protocol is the third-finest DeFi protocol, with the complete payment of resources locked on the platform amounting to $17.97 billion.
Funding nears $100 million
Per Dune Analytics data, the Protocol Guild has already obtained approximately $95 million in donations, striking it on the verge of reaching $100 million. This total does no longer embody the EigenLayer pledge.
Distinguished contributions embody $27.5 million from the Ether.fi Foundation and $20.9 million from Taiko Labs. Other donors, equivalent to the LayerZero Foundation and Arbitrum Neighborhood, hold contributed $7.6 million and $3.2 million, respectively.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's seemingly. He imparts insights on a ramification of matters cherish DeFi, hacks, mining and culture, underlining transformative energy.
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Ethereum is a decentralized, commence-source blockchain platform that lets in the introduction of dapper contracts and decentralized purposes (DApps).
ether.fi operates as a liquid restaking protocol throughout the Ethereum blockchain ecosystem.
The EIGEN token serves as a universal intersubjective work token tailor-made for EigenLayer, providing security for a diversity of digital initiatives which would be each and each intersubjectively attributable and no longer fully reliant on perform verification.
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