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Daily Brief

The EIGEN Token Reveal

gm Bankless Nation, EigenLayer just announced EIGEN, here's what you need to know!
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Apr 29, 20243 min read
The EIGEN Token Reveal
Published on Apr 29, 2024
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Sponsor: Celo — Celo is returning to Ethereum with OP Stack and celebrating four years of mainnet!

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NEED TO KNOW
FRIEND Incoming
  1. 📱 friend.tech preps for V2. The onchain social app postponed its V2 launch to Thursday, May 2nd, to build out a functionality for sharing the FRIEND airdrop with users' keyholders.
  2. 😡 Huge new ZachXBT report. The onchain investigator extraordinaire published a sweeping new analysis indicating that North Korea's Lazarus Group has stolen $200M in crypto hacks since 2020. 
  3. 🔃 The SEC's ETH reversal. In a new court complaint filed today, Consensys alleges the U.S. Securities and Exchange Commission changed course and issued an order to investigate Ethereum as a potential security in March 2023.
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TODAY IN MARKETS
Mixed EIGEN Feelings

🌗 Buzz and discontent. In today's flat market, EigenLayer's announcement of their new EIGEN token has certainly stirred the pot, though not entirely in the way many might have hoped. What's the fuss about, and will it subside?

Prices as of 4pm ET 24hr 7d
Crypto $2.32t ↘ 2.3% ↘ 4.9%
BTC $62,998.94 ↘ 1.0% ↘ 5.4%
ETH $3,186.70 ↘ 3.9% ↘ 0.1%
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ANALYSIS
Getting Started with EIGEN
Bankless Author: Jack Inabinet

The most-anticipated airdrop of all time is just around the corner.

Today, Ethereum restaking protocol EigenLayer introduced its EIGEN token, and its mechanics and "stakedrop" distribution approach are unlike anything we've seen before. The release will usher in Restaking Summer and new frontiers for the Ethereum ecosystem, so get ready!

Here's everything you need to know to prepare for EIGEN 👇


FRIEND & SPONSOR: CELO

After Celo’s community unanimously voted to migrate the mobile-first, EVM-compatible L1 to an Ethereum L2 (#CEL2), core contributors cLabs spent months evaluating and testing leading tech stacks. On Celo mainnet’s 4-year anniversary, cLabs is excited to announce its proposal to leverage Optimism’s OP Stack.

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LATEST POD
$3 Trillion by 2030?

Circle's founder Jeremy Allaire, the stablecoin market's voice of maturity, just joined us on the pod.

Looking ahead to 2030, how much will stablecoins be worth? In terms of the internet's timeline, where does crypto stand? And why isn’t there a Venmo equivalent for crypto? We have plenty of questions, and Allaire has the answers!

Bankless Citizens get an exclusive Debrief of the episode 👇

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GO BANKLESS
Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 80 other crypto protocols in Airdrop Hunter waiting for you.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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