Eigenlayer, the leading project in Ethereum Restaking, is gearing up to launch its airdrop for collection on May 10th. BingX Exchange, a well-known crypto exchange, will be listing Eigenlayer’s token $EIGEN for trading immediately after the airdrop.
The Significance of Eigenlayer in 2024
Eigenlayer has emerged as the most substantial Restaking project on Ethereum in 2024. Even amidst recent fluctuations in Bitcoin price, the introduction of $EIGEN on BingX Exchange is expected to have a positive impact on Ethereum’s price. What sets Eigenlayer apart from other Restaking projects is its emphasis on enhanced security and improved compatibility, allowing multiple public chains to leverage Ethereum’s secure nodes.
Eigenlayer offers several advantages to its users, such as enabling new public chain projects to utilize security measures without the need for expensive node setups. Additionally, individuals interested in mining through node setups no longer require the standard 32 ETH threshold and can participate with a smaller amount. Moreover, the liquidity of Ethereum staked in nodes can be unlocked for utilization in other project developments.
At present, Eigenlayer supports Restaking for tokens from 12 prominent Ethereum projects. Tokens staked on these projects can be utilized by other users, facilitating activities such as staking on one project to earn tokens that can be staked on alternate chains or traded. For instance, staking ETH on the Renzo Protocol to earn RzETH enables users to stake RzETH on different chains or engage in trading, with an exchange rate of 1:1 between RzETH and ETH.
Eigenlayer Airdrop Details
The airdrop distribution for Eigenlayer is based on the points accumulated through staking on the 12 supported projects. The current off-exchange trading price for Eigenlayer points is $0.165 per point, with an estimated distribution of 4.5 billion Eigenlayer tokens during the airdrop, equating to $740 million in $EIGEN tokens.
According to BingX’s Eigenlayer Price evaluation, there is a forecast of significant price fluctuations for the Eigenlayer token post-listing. Investors who did not participate in the airdrop can leverage Eigenlayer Valuation tools on BingX to determine the optimal entry price.
Established in 2018, BingX has emerged as a prominent crypto exchange catering to over 10 million users globally. Offering a wide array of products and services like spot trading, derivatives, copy trading, and asset management, BingX caters to the requirements of users at every level, from novices to seasoned professionals. Committed to offering a reliable platform, BingX provides users with cutting-edge tools and features to enhance their trading expertise. In 2024, BingX proudly became the principal partner of Chelsea FC, marking its foray into the realm of sports.