6 months ago
The Eigen Foundation has committed 1% of its EIGEN token proviso to the Protocol Guild, a radical dedicated to Ethereum Layer-1 probe and development.
According to CryptoSlate data, the EIGEN token has a full proviso exceeding 1.6 billion. With this pledge, the Protocol Guild could person up to 1.6 cardinal EIGEN tokens, valued astatine astir $8 million, based connected the existent terms of $5 per token.
The Eigen Foundation stated that the transaction for this pledge volition beryllium executed soon.
Supporting Ethereum development
In a Dec. 13 station connected X (formerly Twitter), the Foundation explained that the pledge reinforces its extremity of supporting the Ethereum ecosystem’s maturation and sustainability done backing the Guild.
The Protocol Guild plays a important relation successful Ethereum’s improvement by backing projects and contributors. It presently includes implicit 180 members from 29 teams crossed the crypto space, supporting initiatives specified arsenic lawsuit development, research, specifications, testing, and coordination.
The Foundation highlighted the ongoing advancements successful Ethereum, specified arsenic zk-proofs, decentralized storage, and rollups. It expressed pridefulness successful supporting builders shaping the aboriginal of Ethereum done the Protocol Guild.
This pledge aims to guarantee the Protocol Guild continues providing accordant backing for Ethereum’s decentralized infrastructure maintainers. It stated:
“At Eigen Foundation, we stock the content that a decentralized aboriginal depends connected strong, well-supported infrastructure. By pledging 1% of EIGEN supply, we purpose to assistance the Protocol Guild prolong Ethereum’s halfway improvement and support its decentralized future.”
EigenLayer, the Foundation’s flagship platform, allows users to restake ETH to unafraid third-party networks. According to DeFillama data, the protocol is the third-largest DeFi protocol, with the full worth of assets locked connected the level amounting to $17.97 billion.
Funding nears $100 million
According to Dune Analytics data, the Protocol Guild has already received astir $95 cardinal successful donations, putting it connected the verge of reaching $100 million. This full does not see the EigenLayer pledge.
Notable contributions see $27.5 cardinal from the Ether.fi Foundation and $20.9 cardinal from Taiko Labs. Other donors, specified arsenic the LayerZero Foundation and Arbitrum Community, person contributed $7.6 cardinal and $3.2 million, respectively.
The station Eigen Foundation pledges 1% of EIGEN token equaling $8M to enactment Ethereum development appeared archetypal connected CryptoSlate.
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