EigenLayer Unveils $EIGEN

Alpha Team
April 29, 2024

🚀 Introduction of EIGEN Token

Airdrop Details Announced: Eigen Labs announced on Monday that the new EIGEN token will be distributed via a series of airdrops, reserving 15% for users engaged in restaking activities through EigenLayer.

Initial Distribution Strategy: Starting May 10, users who have restaked before March 15 via EigenLayer or LRTs can claim their share. Special provisions are made for those deeply involved with DeFi platforms.

Long-Term Allocation Plan: Nearly 30% of EIGEN tokens are allocated to investors, with a sale embargo till 2027, while 15% each are designated for the Eigen Foundation and community projects. Read More.

️ On today's Top Picks:

📈 MicroStrategy acquires additional Bitcoin.
☁️ Sanctum announces Wonderland campaign.
📉 Franklin Templeton's Q2 profit falls.
🔓 $DYDX ~$71M token unlock on May 1st.

Read time: ⏰ 6 minutes

Crypto News

• ⭐️ MicroStrategy acquires an additional 122 Bitcoin $BTC for $7.8M.

• SEC has been investigating Ethereum $ETH since March 2023.

• Samourai Wallet co-founder pleads not guilty & released on $1M bond.

• Scroll Bernoulli upgrade launches on Mainnet adding EIP-4844 blobs.

• Australia to potentially launch spot Bitcoin $BTC ETFs by end of 2024.

• Nigeria freezes 1K+ bank accounts of crypto traders for manipulating the naira.

Alpha

• Taiko launches BlazPay x Taiko campaign on Galxe.

• Build On Bitcoin (BOB) Mainnet launch & Season 2 begins May 1st.

• ⭐️ Sanctum announces Wonderland loyalty program.

• NIM Network to launch Mainnet on May 1st.

• Particle Network teases $PARTI token & upcoming testnet.

• Ambient posts, "bm" on X, potentially hinting at Berachain.

Airdrops

• ⭐️ EigenLayer introduces $EIGEN & Season 1 Stakedrop.

• Kamino $KMNO Genesis claim launches on April 30th.

• Avail reminds users to claim $AVAIL Unification Drop by May 4th.

• Friend Tech delays V2 launch & $FRIEND airdrop to May 2nd.

Finance News

• US Federal Reserve to release interest rate decision on May 1st.

• ⭐️ Franklin Templeton $FTI Q2 profit falls due to higher expenses.

• Tether Evo invests $200M in BlackRock Neurotech.

• Republic First Bank collapses & seized by regulators.

• Tesla $TSLA to invest $10M in AI to advance its autonomous driving technology.

Security and Exploits

• How Lazarus Group Laundered $200M by ZachXBT.

• SlowMist warns of Lazarus Group posing as Fenbushi Capital on LinkedIn.

• Google blocked 2.28M malicious apps from reaching Play Store in 2023.

Token Unlocks

• Echelon Prime / 1.66M $PRIME / ~$29M / APR 30
• Sui / 4M $SUI / ~$5M / APR 30
• Manta Network / 1.87M $MANTA / ~$3M / APR 30
⭐️• dYdX / 33.33M $DYDX / ~$71M / MAY 01
• ZetaChain / 5.29M $ZETA / ~$6M / MAY 01
• Acala / 27.43M $ACA / ~$3M / MAY 01
• Ethena / 53.6M $ENA / ~$45M / MAY 01
• Nym / 45.63M $NYM / ~$8M / MAY 03
• Liquity / 657.35K $LQTY / ~$736K / MAY 05
• Galxe / 5.18M $GAL / ~$20M / MAY 05
• Heroes of Mavia / 7.66M $MAVIA / ~$31M / MAY 06

Funding

• Holograph, an omnichain tokenization infrastructure; raises $11M in Strategic funding led by Mechanism Capital & Selini Capital.

• Hinkal, a confidential on-chain protocol; raises $1.4M in Strategic funding led by SALT Fund.

The Degen Farmer

Top stablecoin yield farms of the day, more than $3,000,000 in TVL. DYOR and step up your farming game!

PROTOCOL	ASSETS	APY
Ramses V2 (Arbitrum)	USDCUSDC	161.20%
Merkle Trade (Aptos)	ZUSDC	83.50%
PancakeSwap AMM V3 (Arbitrum)	USDT+USD+	69.33%
Abracadabra Spell (Arbitrum)	MIMUSDCUSDT	52.57%
Avantis (Base)	USDC	52.50%
Extra Finance (Base)	DOLAUSDC	51.99%
Curve DEX (Ethereum)	IDAIIUSDCIUSDT	46.17%
Turbos (Sui)	USDTUSDC	45.67%

. . .

Reya: a new L2 with over 200M in liquidity

Airdrop Opportunity 🪂: Reya's LGE is very close, and users that stake can start farming $REYA.

Backed by some of the best: investors include the likes of Coinbase Ventures, Wintermute, Robot Ventures, and more.

Reya Labs (creator of Reya Network) is run by a team of DeFi OGs with multiple successful startups launched in the past, such as Voltz Protocol.

How to get the airdrop? - Users can deposit USDC while the LGE event lasts to get boosted XP. XP is expected to convert into rewards in the future.

👉 Farm $REYA's XP by staking USDC

. . .

That’s it for today’s edition! See you soon.

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