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Over the last couple of days, the centre of discussion in the crypto sphere has been about the launching of EIGEN the native token of EIGENLayer. Positioned as one of the biggest project in 2024 with nearly $16B TVL. EIGENLayer is just hovering behind Lido and Aave making it the third- largest protocol on Defi. With over $64.5M already raised from top prominent heavyweights including Coinbase ventures, Polychain capital and others, the recent partnership with leading tech companies like Near foundation, Polyhedra Network and CELO foundation further cement the high expectation ahead of the launch slated for May 10. According to information from EIGEN foundation, 15% of the initial 1.67 billion EIGEN token will be airdroped to the community over multiple seasons with 5% set to be distributed on May 10 with one point equating to one token potentially leading to hefty rewards for users. However, several complains has emerged as the token will be initially non-transferable essentially making the cash reward worthless With lots of tier 1 CEX anticipating the launching of the project, Bitget has launched a pre-market trading for the token for investors to get the token at the best prices pending the official listing. This Ethereum based liquid staking protocol is gearing up massively even though there might be some little hiccups but with the success already recorded so far, I have a feeling this might be the biggest project of 2024. What is your thought on this project? -
The event is profitable both during market downturn and surge. I feel it's just a way to give back to the community because their is nothing special for the traders to do. They trade, make profits and also get paid decent BGB. Even if they lose while trading, the compensation from the event is reasonable to offset the loss to a reasonable degree.
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Well you have a point but i disagree with you. The crypto space is evolving and in this space "never say never" first of all, there are lots of platforms for lending and borrowing where the users are asked to collaterize their borrowing with other assets using an existing smart contract protocol and this borrowing comes with interests for the platforms and the lender just like it's happening in the traditional banking system. Also some platforms may choose to invest your staked crypto in during market downturn for example use them to trade futures with experts which could bring decent returns... It goes on and on so i think it is quite possible but it may take some time to execute on major cryptocurrency exchanges.
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