EigenLayer Announces Second 'Stakedrop'

EigenLayer has announced its second “stakedrop,” distributing 86M EIGEN tokens, 5% of its total 1.67B supply, to stakers, node operators, AVSs, and community members.

What’s the scoop?

• Eligibility: Participants who were active between March 15 and August 15 are eligible to claim tokens starting on or before September 17th.
• Stakers and Node Operators: 70M tokens will go to stakes and active operators based on their pro-rata share of ETH staked.
• Other Participants: 10M tokens are allocated to AVSs and other contributors, while 6M will go to community members, including open-source contributors, who must verify their identity by September 11th.

Bankless Take:

EigenLayer’s second stakedrop comes at a pivotal moment for the protocol, as its TVL has seen a drop from 5.4M ETH to 4.8M ETH since June. This downturn mirrors trends in the restaking sector, likely driven by the end of initial token distribution campaigns. However, this fresh wave of token distribution, coupled with the deployment of universal token staking and integrations with Ethena, may reignite interest, potentially helping EigenLayer regain some lost momentum. Additionally, restaking competitor Symbiotic’s recent TVL growth to $1.5B, since its launch in early July, shows that protocols not yet launching tokens may be better positioned to retain capital in this environment.