The Protocol: EigenLayer Ready to Launch Missing Feature
Also: Bitcoin L2 SDKs; North Korea’s THORChain Use; and Quantum-Resistant BTC
EigenLayer
The Protocol: Peter Todd Wants to Fix Satoshi’s Bitcoin Bugs
The HBO documentary turned the spotlight on an early Bitcoin contributor who recently has proposed an upgrade to fix all the bugs left in Bitcoin’s original code. PLUS: Criticisms mount after EigenLayer unlocks EIGEN token, as Babylon vaults to top of Bitcoin DeFi leaderboard.
EigenLayer’s Token Launch Draws Scrutiny Over Supply Concerns
In some ways, the release of EigenLayer’s native EIGEN token this week was as expected; price rapidly rose moments after it was listed on exchanges, leading to a period of price discovery that culminated in a 22% slide from it’s momentary record high. But there appears to be a storm brewing behind the scenes, with several investors and community members calling foul on a lack of transparency over the token’s supply.
EigenLayer Tokens to Be Released in Coming Hours, Futures Trade at Fully Diluted $6.8B
The restaking protocol will unlock 1.67 billion tokens at 9 p.m. PST on Monday.
EigenLayer to Distribute 86M Tokens to Stakers, Node Operators
Restaking protocol EigenLayer said it will distribute 86 million EIGEN tokens, around 5% of the total supply, to stakers, node operators, ecosystem partners and community members.
Top Crypto Startup Drove Other Projects’ Airdrops to Its Employees
Eigen Labs circulated a list of team members’ wallet addresses to EigenLayer ecosystem projects that were preparing to issue tokens. The firm later banned the practice, citing potential conflicts of interest.
As Restaking Takes Shape on Solana, Ethereum’s Renzo Jumps in With ‘ezSOL’
Renzo founding contributor Lucas Kozinski (Renzo)
Ethereum-Based Swell Imports Wrapped Bitcoin to Serve as Liquid Restaking Token
Users can deposit their wBTC to get swBTC in return, with yield expected to start flowing from mid-September – as part of a blockchain “restaking” scheme ultimately designed to secure protocols in the Ethereum blockchain ecosystem.
EigenLayer Outflows of $2.3B Signal Restaking Sector Slide
Billions of dollars worth of ether have been withdrawn from restaking protocols over the past month as the once-trendy sector starts to be hit by the fickle nature of crypto investors.
The Protocol: Lido Backers vs EigenLayer
In this week’s issue, we’ve got the scoop on a new possible rival to restaking pioneer EigenLayer. PLUS Are meme coins an investable asset class? With the latest Runes data and $70M of project fundraisings.