The Eigen Basis has dedicated 1% of its EIGEN token provide to the Protocol Guild, a bunch devoted to Ethereum Layer-1 analysis and growth.
Based on CryptoSlate information, the EIGEN token has a complete provide exceeding 1.6 billion. With this pledge, the Protocol Guild may obtain as much as 16 million EIGEN tokens, valued at roughly $80 million.
The Eigen Basis acknowledged that the transaction for this pledge will probably be executed quickly.
Supporting Ethereum growth
In a Dec. 13 publish on X (previously Twitter), the Basis defined that the pledge reinforces its objective of supporting the Ethereum ecosystem’s progress and sustainability via funding the Guild.
The Protocol Guild performs an important position in Ethereum’s growth by funding tasks and contributors. It at present contains over 180 members from 29 groups throughout the crypto house, supporting initiatives akin to shopper growth, analysis, specs, testing, and coordination.
The Basis highlighted the continued developments in Ethereum, akin to zk-proofs, decentralized storage, and rollups. It expressed pleasure in supporting builders shaping the way forward for Ethereum via the Protocol Guild.
This pledge goals to make sure the Protocol Guild continues offering constant funding for Ethereum’s decentralized infrastructure maintainers. It acknowledged:
“At Eigen Basis, we share the idea {that a} decentralized future relies on robust, well-supported infrastructure. By pledging 1% of EIGEN provide, we intention to assist the Protocol Guild maintain Ethereum’s core growth and preserve its decentralized future.”
EigenLayer, the Basis’s flagship platform, permits customers to restake ETH to secure third-party networks. Based on DeFillama data, the protocol is the third-largest DeFi protocol, with the overall worth of property locked on the platform amounting to $17.97 billion.
Funding nears $100 million
Based on Dune Analytics data, the Protocol Guild has already obtained roughly $95 million in donations, placing it on the verge of reaching $100 million. This whole doesn’t embrace the EigenLayer pledge.
Notable contributions embrace $27.5 million from the Ether.fi Basis and $20.9 million from Taiko Labs. Different donors, such because the LayerZero Basis and Arbitrum Group, have contributed $7.6 million and $3.2 million, respectively.
Dec. 17 UPDATE: Up to date headline and second paragraph to the right worth of the pledged EIGEN token.
