reStaking protocol EigenLayer announced that it will officially lift restrictions on EIGEN Token transfers on September 30, 2024.
Accordingly, when the EIGEN Token transfer function is activated, investors will be able to freely buy, sell, and convert their Token . However, those who are Stake EIGEN should note the withdrawal time regulations, with a 7-day time requirement to complete the unstaking process. This is part of EigenLayer's efforts to ensure transparency and security in asset management.
The move comes after EigenLayer completed the distribution of 86 million EIGEN Token in its second stakedrop season, which ran from March 15 to August 15, 2024. This is a significant step, as Token from both stakedrops – including the first one in April – which were limited in transferability, are now set to become freely tradable.
EigenLayer is known as a platform that allows users to Stake ETH, which is then Stake to secure third-party networks or authentication services. With a total supply of 1.67 billion native Token , EigenLayer aims to develop a crypto-economic security system based on the concept of inter-stakeholder Fork , which helps improve the safety and operational efficiency of blockchain networks.
