The Eigen Foundation’s Commitment to Ethereum Development
The Eigen Foundation has dedicated 1% of its EIGEN token supply to the Protocol Guild, a group focused on Ethereum Layer-1 research and development.
Token Supply Details
With a total supply exceeding 1.6 billion tokens, the Protocol Guild could potentially receive up to 1.6 million EIGEN tokens, valued at approximately $8 million based on the current token price of $5.
Supporting the Ethereum Ecosystem
In a recent post on X (formerly Twitter), the Eigen Foundation emphasized its commitment to supporting the growth and sustainability of the Ethereum ecosystem through funding the Protocol Guild.
Role of the Protocol Guild
The Protocol Guild plays a vital role in Ethereum’s development by funding various projects and contributors. It currently consists of over 180 members from 29 teams in the crypto space, supporting initiatives such as client development, research, specifications, testing, and coordination.
Advancements in Ethereum
The Foundation highlighted the continuous advancements in Ethereum, including zk-proofs, decentralized storage, and rollups. It expressed pride in supporting builders who are shaping the future of Ethereum through the Protocol Guild.
The pledge aims to ensure that the Protocol Guild can continue to provide consistent funding for Ethereum’s decentralized infrastructure maintainers.
EigenLayer and DeFi Protocol Ranking
EigenLayer, the Foundation’s flagship platform, allows users to restake ETH to secure third-party networks. According to DeFillama data, the protocol is currently ranked as the third-largest DeFi protocol, with a total value of assets locked on the platform amounting to $17.97 billion.
Funding Milestone Approaching
According to Dune Analytics data, the Protocol Guild has received donations totaling approximately $95 million, nearing the $100 million mark. This total does not include the recent EigenLayer pledge.
Notable contributions include $27.5 million from the Ether.fi Foundation and $20.9 million from Taiko Labs. Other donors, such as the LayerZero Foundation and Arbitrum Community, have also made significant contributions.
