EigenLayer is a protocol built on Ethereum that works on the principle of restaking. It makes it possible for natively staked Ether or Liquid Staking tokens to be restaked for additional yield . In other words a user can use their staked ether or LSTs to earn multiple rewards without any extra capital.
EigenLayer is one of the top restaking protocol that serves users ensuring the safety of funds. It takes security very seriously as its the first priority to make people feel safe while interacting with the Eigenlayer protocol. Eigenlayer has totally changed the concept of staking as it has made it possible to earn multiple rewards from different protocols.
Its been months that people have been using EigenLayer for restaking, in return people were getting points which converted to Eigen tokens on TGE. People have got hundreds to thousands of tokens airdropped based on the assets worth that were restaked on the platform.
Binance which is the largest cryptocurrency exchange has announced the listing of Eigen token. Binance has stated that it will list Eigen on 1st October with seed tag applied. Binance apply this tag to new tokens as they are risky because the newly listed tokens have high volatility which means the price can move quickly up and down.
As Binance listing is confirmed via Binance official account on X so users have high hopes from Eigen as they believe that the listing price of Eigen token would be good to print a decent amount of money through this airdrop . Eigen token airdrop holders have put all eyes on Binance now.
If you dont know let me tell you that EigenLayer is the second largest restaking protocol after Lido. Looking at Lido token we can have an idea of Eigen token and its strength. Lido is currently ranked 74 in terms of marketcap according to stats from coingecko. Lido is trading at $1.3 per token.
Since Eigen is the second strongest restaking protocol and further looking at Lido protocol it is good to say that Eigen will cook for the airdrop farmers as the listing price will be very reasonable. The involvement of Binance makes it more trusted.
While the Eigen listing is around the corner, everyone is talking about the listing price because its what will determine the worth of bag holdings. Eigenlayer team is hosting live spaces on X to discuss a out the listing and answering questions from the community.
Actually the live spaces and engagement with the community is a good move as it is good to keep the hype for the project. EigenLayer team knows this very well that is why they are doing all these engaging activities as this boost confidence in investors which is good for the strength of the project.
Eigen token listing is few hours away and airdrop farmers are excited for the trading as they are waiting to book profits. What i know is that once again crypto will put smile on many faces which is so satisfying.
Thats it for today. Thanks for reading. What do you think about my today's topic? Let me know your thoughts in comment section. In the end i would like to Wish you and your family a happy day ahead. Stay Blessed.
Motivation Dose
Get out of your comfort zone and fight the troubles and hurdles that come your way to success. Success awaits you. Life is beautiful ، live it to the fullest. Dont be hopeless. Stand strong in the ups and downs of life as its part of life. There is always a light behind every dark side.
About Author
@coolguy222 is a crypto trader and content creator on hive blockchain. He also runs a small business of Mobile accessories and Wrist watches. He loves to make new friends.