Eigenlayer, a prominent project in Ethereum Restaking, is gearing up to launch its highly anticipated airdrop for collection on May 10th. This airdrop will allow users to earn Eigenlayer’s token $EIGEN and engage in trading activities on BingX Exchange immediately after collection.
Eigenlayer has emerged as the largest Restaking project on Ethereum in 2024. While the recent decline in Bitcoin’s price may have raised concerns, the listing of $EIGEN is expected to have a positive impact on Ethereum’s price. What sets Eigenlayer apart from other Restaking projects is its emphasis on security and compatibility. By enabling various public chains to utilize Ethereum’s secure nodes, Eigenlayer offers the following benefits:
– New public chain projects can access security without incurring significant node setup costs.
– Users interested in mining through node setup are not required to meet the 32 ETH threshold and can participate with a smaller amount of ETH.
– The liquidity of Ethereum staked in nodes can be unlocked for use in other project developments.
Eigenlayer currently supports Restaking for tokens from 12 Ethereum projects. Users can stake tokens from these projects and utilize them across different platforms. For instance, staking ETH on the Renzo Protocol to earn RzETH allows users to stake RzETH on other chains or engage in trading activities, with an exchange rate of 1:1 between RzETH and ETH.
The airdrop distribution for Eigenlayer is based on points earned from staking on the 12 supported projects. The off-exchange trading price for Eigenlayer points is currently set at $0.165 per point. An estimated 4.5 billion Eigenlayer tokens will be distributed during the airdrop, equivalent to $740 million in $EIGEN tokens. BingX’s Eigenlayer Price estimation and analysis suggest a potential price surge for the Eigenlayer token post-listing, creating price pressure. Investors who missed the airdrop can refer to Eigenlayer Valuation on BingX to determine an optimal entry price.
Established in 2018, BingX is a renowned crypto exchange catering to over 10 million users globally. The platform offers a wide range of products and services, including spot trading, derivatives, copy trading, and asset management, tailored to meet the diverse needs of users from novices to seasoned professionals. BingX prides itself on providing a secure and reliable trading environment equipped with innovative tools to enhance users’ trading skills. In 2024, BingX proudly announced its partnership with Chelsea FC, a milestone marking its foray into the realm of sports.
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