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After all, the EigenLayer airdrop is happening, but it won’t include VPN and US users – DL News

TokenTalk Staff

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After all, the EigenLayer airdrop is happening, but it won't include VPN and US users – DL News
  • EigenLayer will issue a token called EIGEN.
  • Billions flowed into the protocol, fueled in part by speculation about airdrops.
  • Representatives previously stated that “there is no token.”

After months of telling frustrated investors that “there is no token,” EigenLayer’s parent company, Eigen Labs, released details of an upcoming token on Monday.

Dubbed EIGEN, the token will be distributed in a series of airdrops, and 15% has been set aside for people who used EigenLayer to “take back” the tokens.

But users in dozens of countries are banned from applying for EIGEN tokens. These countries include the United States, China, Russia and Canada.

Eigen Labs will also block people using virtual private networks, or VPNs, from requesting tokens. VPNs have been a popular tool for users looking to bypass location-based restrictions on crypto activity.

Launched last year in June, EigenLayer has quickly become the second largest protocol in decentralized finance, with over $15 billion in user deposits.

Airdrop speculation fueled EigenLayer’s meteoric rise.

Autostratus pioneer the concept of restaging: using the same capital and hardware to run multiple protocols. Previously, Ether could be used to secure the Ethereum blockchain. With EigenLayer, it can be used to secure Ethereum and a variety of protocols that would otherwise require bespoke blockchains, such as oracles and bridges.

Proponents believe it has the potential to transform Ethereum and recently Eigen Labs lifted up $100 million from venture capital firm Andreessen Horowitz.

But the hype was also fueled by speculation that Eigen Labs would release a token and set aside part of the token supply for early adopters of EigenLayer.

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This is because EigenLayer has rewarded “points” to depositors. Similar points programs have been used by other crypto projects to determine token allocation during airdrops.

Protocols like Pendle have boomed on this premise, allowing users to trade points and bet on the price of a future EigenLayer token.

But Eigen Labs was coy. When moderators of the company’s Discord channel were asked what plans were for a future airdrop, they responded with something that became something of a mantra: “There is no token.”

That speculation was rewarded with Monday’s announcement.

Airdrop plans

The first 5% of EIGEN tokens will be distributed among people who have restated via EigenLayer or a liquid restake protocol such as Ether.Fi before March 15th. They will be able to request their token assignment starting May 10th.

A tenth of the initial allocation will be reserved for “people who have interacted with EigenLayer in more complex ways.” That group could include people who have used DeFi protocols like Pendelaccording to Eigen Labs.

People requesting the token will not be able to send it to other crypto wallets.

“Some milestones are expected to be achieved in the coming months before EIGEN becomes transferable and divisible,” the company said.

The token will be used in the EigenLayer ecosystem to enforce rules that cannot be automatically tracked by blockchain-based applications, Eigen Labs said. This should allow the creation of new protocols on EigenLayer.

“Some potential use cases include transaction orders, databases, storage services, oracles, AI processors, and much more,” Eigen Labs said in documents detailing the airdrop.

The token will have a supply of 1.6 billion at launch, but its supply will be dynamic.

“Although an initial issuance schedule has not yet been determined or implemented, in the first few years it is expected that the token supply will be inflationary and allocated via protocol mechanisms for the exclusive benefit of the EigenLayer community,” according to a blog send detailing EIGEN tokenomics.

Nearly 30% was set aside for Eigen Labs investors, and about a quarter of the tokens were allocated to “early contributors.” Investors and early contributors will not be able to sell their tokens for three years. Starting in 2027, 4% of their tokens will be unlocked every month.

Another 15% has been set aside for the newly formed Eigen Foundation and “future community initiatives”.

The Eigen Foundation is an “independent, shareholder-free entity dedicated to accelerating the growth of the EigenLayer ecosystem.”

The foundation will fund the grant programs and the development of the EigenLayer protocol.

Aleks Gilbert is a DeFi correspondent based in New York. Do you have advice? Email him at aleks@dlnews.com.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Worldcoin Token Rises 12% After Ecuador Expands, Kenya Investigation Closes

TokenTalk Staff

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Worldcoin token surges 12% after Ecuador expansion and Kenya probe closure

Worldcoin’s WLD token jumped more than 12% to over $3 last day after the project scored significant wins in several jurisdictions.

Worldcoin is a personality-proof crypto project that he took on examination and controversy around the world since its launch thanks to the collection of facial data. These challenges have had a significant impact on the WLD token, which is down more than 70% from March’s all-time high of $11.

However, this week the project recorded crucial milestones for its operations, prompting a recovery in the asset’s value.

Kenya abandons Worldcoin probe

Worldcoin told CryptoSlate that Kenya has ceased its investigation into the project.

In an emailed statement, a Worldcoin spokesperson confirmed that Kenya’s Director of Criminal Investigations (DCI) has closed its investigation into the project’s alleged data collection violations. Thomas Scott, chief legal officer at Tools for Humanity, said:

“We are grateful for the DCI’s impartial investigation and the Director of Public Prosecutions’ determination to close the matter. This welcome result, however, does not represent the end but the beginning. We will continue to work with the Government of Kenya and others and hope to resume ID registration across the country soon.”

This news would be a welcome development for a recent project he agreed to stop its Spanish operations until the end of the year or until the Bavarian Data Protection Authority (BayLDA) makes a final decision regarding the investigation into the company’s data processing practices.

Expansion of Ecuador

Worldcoin on June 19th announced the imminent availability of its global identity verification spheres in six locations in the two Ecuadorian cities of Guayaquil and Quito.

The spheres will begin operating on June 26 in Guayaquil and June 27 in Quito. Starting June 24, Ecuadorians can locate the sphere sites via the Worldcoin website and app.

This expansion is in line with growing global support for humanity-proofing initiatives. According to Worldcoin, a staggering 92% of a recent online survey conducted in Ecuador showed that they support technology-based solutions to differentiate humans from robots online.

The same trend has been observed in other countries, such as Peru and Colombia, where respondents fear that robots could “lead to even greater levels of fraud and disinformation.”

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Sealana Token Is Claimed to Be the Next Meme Coin to Explode as Pre-Sale Ends in Just 5 Days – Branded Spotlight Bitcoin News

TokenTalk Staff

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Sealana Token Is Claimed to Be the Next Meme Coin to Explode as Pre-Sale Ends in Just 5 Days – Branded Spotlight Bitcoin News

https://news.google.com/./articles/CBMid2h0dHBzOi8vbmV3cy5iaXRjb2luLmNvbS9zZWFsYW5hLXRva2VuLWlzLWJlaW5nLWJhY2tlZC1hcy10aGUtbmV4dC1tZW1lLWNvaW4tdG8tZXhwbG9kZ S1hcy1wcmVzYWxlLWVuZHMtaW4tanVzdC01LWRheXMv0gEA?hl=en-US&gl=US&ceid=US%3Aen

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Mexican Cartels Using BTC, ETH, USDT, and Other Tokens to Buy Fentanyl Precursors: US Treasury

TokenTalk Staff

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Mexican Cartels Using BTC, ETH, USDT, and Other Tokens to Buy Fentanyl Precursors: US Treasury

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

The US Treasury Department’s Financial Crimes Branch has reported the growing use of several crypto assets to support Mexican drug trafficking

AccessTimeIconJune 20, 2024, 5:08 pm

Updated June 20, 2024, 10:04 pm

US authorities have warned of Mexican cartels using cryptocurrencies to buy precursors to make fentanyl. (Jesse Hamilton/CoinDesk)

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Bitcoin, Ethereum and Furrever tokens with cutting-edge 10% referral bonus.

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Bitcoin, Ethereum and Furrever tokens with cutting-edge 10% referral bonus.

New York City, NY, June 20, 2024 (GLOBE NEWSWIRE) —

Looking to the future of cryptocurrencies, Bitcoin remains strong as the market leader, while Ethereum continues to fascinate meme coin enthusiasts. Now, Furrever token is ready to join the fray. This article looks at what Furrever Token brings to the table alongside these giants.

Bitcoin price continues to fall as whale activity deepens

Bitcoin price fell below $65,000 on Wednesday, after expanded whale exercises that will be offered orders. Meanwhile, hedge funds have experienced a slowdown in the introduction of Bitcoin, which could be fueled by a steady surge in Bitcoin ETFs.

Ethereum ETFs may not cause the price of ETH to rise as many predict

The price of Ethereum (ETH) has risen more than 4% in the past 24 hours after the Securities & Exchange Commission (SEC) abandoned its examinations of Ethereum 2.0 amid the desire for spot ETH ETFs. In any case, subsequent ETH energy ETFs may not lead to the expected price increase.

The Furrever token stands out for its innovative 10% referral program.

The Furrever Token presale has so far raised over $1.3 million, with the project currently at level 9 and aiming for a total of $1.9 million.

Furrever Token offers delightful customer engagement focused on feline-themed symbolism and community-driven engagement. The untapped referral framework allows customers to earn 10% in $FURR tokens for every store created via their individual referral connection, making for a fabulous passive income opportunity. This framework does not incentivize users, but also cultivates the natural development of the community.

Backed by a comprehensive review by Securi Lab, Furrever Token ensures a secure and reliable stage for its customers. The project guide incorporates the progressive integration of feline-themed material and the energy of future shocks, situating it as an interesting and enjoyable speculation within the crypto space.

Don’t miss the opportunity to include Furrever Token in your venture portfolio and get ready to rule the meme coin industry. Visit www.furrevertoken.com to secure your tokens and be part of this crypto space.

Join the Furrever token presale now:

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Join the official Telegram group

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Media contact:
Roberto Smith
https://furrevertoken.com/
support@furrevertoken.com

Disclaimer: The information provided in this press release does not constitute a solicitation for investment, nor is it intended as investment advice, financial advice or business advice. We strongly recommend that you practice due diligence, including consulting with a professional financial advisor, before investing in or trading cryptocurrencies and securities.

CONTACT: Robert Smith

support at furrevertoken.com




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