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EIGEN Foundation allocates 1% of EIGEN supply for Ethereum support

EIGEN Foundation’s funding commitment: The EIGEN Foundation is pledging 1% of the entire EIGEN token supply to the Ethereum Protocol Guild. This initiative supports a collaborative body of 180 members focused on maintaining Ethereum’s layer-1 blockchain.

EigenLayer’s significant role: EigenLayer operates a restaking protocol on Ethereum, facilitating multifunctional staking for Staked Ether and other assets. Currently, it manages around 18.2 billion USD of the 26.9 billion USD total locked across restaking protocols.

Market position and challenges: Although the EIGEN token peaked in October 2023, it has fallen from the top 100 cryptocurrencies to rank 108. Unique financial products like Wrapped Bitcoin offerings are now enhancing its competitive edge.

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