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Eigenlayer, a middleware on the Ethereum network, incentivizes $ETH stakers to stake on protocols, enhancing security. It reached a TVL of over $16 billion before an EIGEN token 'stakedrop'. Despite this, confusion persists about EigenLayer's purpose and value.
We might have been a bit slow to the party, but here are some of our initial thoughts on Eigenlayer's cryptoeconomics and EIGEN token. https://t.co/12PKrda9jD
📈 @witnesschain is now @eigenlayer's third-largest AVS with more than $5 billion worth of delegated staked ETH. The project aims to unify the growing web3 DePIN ecosystem, enabling the creation of new applications 👀 Read More: https://t.co/5rkEP3Lh0I https://t.co/oM3Wsg14x8
Now that the dust has settled from the $EIGEN drop, here are some ramblings; - People still don't understand what EigenLayer even is, much less how to value it. 17Bn FDV is FUD. - Eigen team doesn't understand their userbase wrt messaging. They were too verbose and should have…