EigenLayer Tokens to Be Released in Coming Hours, Futures Trade at Fully Diluted $6.8B

• The token is trading at $4.11 on Aevo with a fully diluted value (FDV) of $6.8 billion.
• Early adopters have been earmarked for 5% of the total supply.
• Trading on centralized exchanges will go live at 05:00 UTC Tuesday.

Restaking protocol Eigenlayer will unlock its highly anticipated token, EIGEN, at 9 p.m. PST on Monday (04:00 UTC on Tuesday) and trading is set to start on Binance an hour later.

EigenLayer lets users stake ether (ETH), which can be repurposed to secure other networks and secure additional rewards. The total value locked (TVL) on the protocol has dropped by more than 50% since June as a result of increased competition and a wider slump across the restaking sector. It currently has around $10 billion in TVL.

Total supply of the token will be 1.6 billion, with 86 million allocated to early adopters, who will receive a recently announced airdrop dubbed "stakedrop."

The price, which is likely to be volatile on release, is currently $4.11 according to a market on perpetual exchange Aevo, which has only racked up $191,000 in trading volume over the last 24 hours. It is currently trading at a fully diluted value (FDV) of $6.8 billion.