gradient

Eigen Labs and Eigen Foundation Reveal Investor Staking Rules in New Disclosure

Eigen Labs and Eigen Foundation have released new disclosures on Wednesday detailing the rules governing investor staking rewards on EigenLayer.

Eigen Labs and Eigen Foundation posted disclosures on the treatment of investor staking rewards, which we summarize in this tweet, responding to community questions.

– Eigen Labs disclosure: https://t.co/SYspTxM3Nd
– Eigen Foundation disclosure: https://t.co/xPebLKNtj9

— EigenLayer (@eigenlayer) October 2, 2024

According to the announcement published by Eigen Labs and Eigen Foundation, investors will have a maximum annual staking reward capped at 1% of the total initial token supply, with tokens unlocking gradually over three years.

EIGEN Staking: Rewards Cap and Lockup Schedule

The new guidelines outline specific conditions for both employees and investors participating in Eigen staking on EigenLayer.

Employees are restricted from staking any EIGEN tokens they received from the company until September 2025.

Investors, meanwhile, can stake their tokens but remain subject to a lockup period, which gradually unlocks over three years.

Additionally, the disclosure confirms that both investors and employees are permitted to stake non-EIGEN assets, such as Ethereum (ETH) and ETH-equivalents.

Staking rewards earned from these assets are not subject to the lockup conditions.

The documents also clarified that no stakedrops were allocated to investors before September 30, 2024, ensuring that early contributors did not receive staking rewards during the platform’s initial phase.

Employees were similarly excluded from stakedrops during this period.

EigenLayer’s staking program is designed to allocate 75% of annual staking rewards to ETH and ETH-equivalent stakers, with only 25% reserved for EIGEN stakers.

This structure promotes a balanced distribution of rewards across the platform.

Justin Sun Sells EIGEN for Over $21 Million

While EigenLayer’s staking rules focus on equitable rewards distribution, notable EIGEN transactions have also surfaced in the market.

Blockchain analyst EmberCN recently tracked the EIGEN holdings of Justin Sun, who received over five million tokens through an airdrop.

孙哥所属地址在 1 小时前从币安提出了 2166 万枚 USDT,这意味着孙哥领取的 537.4 万枚 EIGEN 空投已以 $4.03 的均价全部售出。

孙哥所属的 6 个地址在前天晚上领取了 537.4 万枚 EIGEN 空投,昨天中午 EIGEN 允许转移后,孙哥将这些 EIGEN 转进 HTX,然后又立即从 HTX 转到了币安 (图2)。… https://t.co/Q8AA6CusdP pic.twitter.com/R0HSSTZxeQ

— 余烬 (@EmberCN) October 2, 2024

After the tokens were unlocked, Sun swiftly transferred them to HTX and then Binance.

He sold the tokens for approximately $21 million, earning an average of $4.03 per token.

At the time of writing, EIGEN tokens were trading at $3.58.

The post Eigen Labs and Eigen Foundation Reveal Investor Staking Rules in New Disclosure appeared first on Cryptonews.

Read More from Hongji Feng on cryptonews.com