Thread by @eigenfoundation

Introducing the Eigen Foundation, EIGEN token, and Season 1 Stakedrop!

2/ Only interact through these official links:

EIGEN Summary Blog Post:
EIGEN Whitepaper:
Stakedrop:
FAQ:
Blog:
X: @eigenfoundation
Website:

Read the blog post here: blog.eigenlayer.xyz/eigen
eigen.eigenlayer.xyz
claims.eigenfoundation.org
docs.eigenfoundation.org
blog.eigenfoundation.org
eigenfoundation.org
blog.eigenfoundation.org/announcement

3/ What is the Eigen Foundation? We are an independent, shareholder-less entity dedicated to accelerating the growth of the EigenLayer ecosystem. Our mission is to steward the development and adoption of the Shared Security Commons.

4/ We will do so by supporting research and development of the EigenLayer protocol, funding grants programs, providing third-party evaluations, and stewarding continued progress toward greater decentralization.

5/ What is EigenLayer? A breakthrough protocol that pioneered the concept of restaking, which unlocked the power of staked ETH to secure a range of applications, fueling open innovation.

6/ There is more than $15B in economic security staked on EigenLayer, supporting 9 Actively Validated Services (AVSs) and 50+ AVSs in development.

7/ ETH restaking allows ETH staking to secure any objectively attributable fault, supporting layer 1s, bridges, coprocessors, and much more.

8/ There are certain types of faults, like data withholding, that cannot be resolved within a blockchain solely through mathematical or cryptographic means.

9/ These faults, which we term 'intersubjectively attributable,' are identifiable only through external observation and consensus among observers.

10/ With EIGEN, our vision is to resolve 'intersubjective' faults inside Ethereum. Eigen empowers the community to penalize these faults, enhancing security beyond what's possible with ETH restaking alone.

11/ It does this by using social consensus to fork the token, slashing malicious stakers without forking Ethereum's mainnet consensus.

12/ With EIGEN’s intersubjective forking mechanism, a new frontier of AVSs can be secured on EigenLayer - data availability layers, AI inferences and training, oracles, and so much more.

13/ This makes EIGEN the Universal Intersubjective Work Token, complementing the utility of ETH as a Universal Objective Work Token in the EigenLayer ecosystem.

📝Summary blog post:
🗒️Whitepaper: blog.eigenlayer.xyz/eigen/
eigen.eigenlayer.xyz

14/ EIGEN's responsible launch includes an initial non-transferable period in order to achieve:
-Community awareness and socialization of the novel design
-New EigenLayer features for payments & slashing
-Enhanced decentralization with 15% EIGEN set aside for community stakedrops

15/ Stakedrop Season 1: 5% of initial EIGEN supply goes to restakers!

Check eligibility: (no signature is required at this time)

Snapshot: March 15, 2024

Claims window: Opens May 10, closes in 120 days on September 7, 2024.claims.eigenfoundation.org

16/ EIGEN Stakedrop Season 1 is rolling out in 2 phases.

Phase 1: Most restakers & liquid staking token holders
Phase 2: Complex LRT integrations will be eligible after community feedback

17/ Note that liquid restaking protocols are learning some aspects of Phase 2 concurrently. Please give them a few days to use this information to analyze the unresolved contracts. For more details, check out the FAQ docs.eigenfoundation.org

18/ More EIGEN seasons to come, totaling 15% of initial supply! Future allocation will consider broader ecosystem participation before and after the March 15 snapshot.

19/ ⚠ BEWARE ⚠ EIGEN claims are NOT live yet. Protect yourself from scams! There is no signature required on the current claims site, so beware of any site asking you to sign anything. Official updates ONLY come from @eigenfoundation and .eigenfoundation.org