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The Eigen Foundation has allocated 1% of its EIGEN token supply to the Protocol Guild, a group dedicated to Ethereum First-class research and development.
according to Cryptocellite data, king The token has a total supply exceeding 1.6 billion. Through this pledge, the Protocol Guild can acquire up to 1.6 million EIGEN tokens, worth approximately $8 million, based on the current price of $5 per token.
Eigen stated that the deal for this pledge will be implemented soon.
Support the development of Ethereum
In a December 13 post on X (formerly Twitter), the foundation explained that the pledge furthers its goal of supporting the growth and sustainability of the Ethereum ecosystem through syndicate funding.
The Protocol Guild plays a crucial role in the development of Ethereum through project funding and contributors. It currently has over 180 members from 29 teams across the cryptocurrency space, supporting initiatives such as customer development, research, specifications, testing, and orchestration.
The Foundation highlighted ongoing developments in Ethereum, such as proofs zkDecentralized storage and collections. She expressed her pride in supporting the builders shaping the future of Ethereum through the Protocol Guild.
This pledge aims to ensure that the Protocol Guild continues to provide ongoing funding for Ethereum’s decentralized infrastructure maintainers. It stated:
“At the Eigen Foundation, we share the belief that the decentralized future depends on a strong, well-supported infrastructure. By pledging 1% of EIGEN’s supply, we aim to help the Protocol Guild sustain the fundamental development of Ethereum and preserve its decentralized future.”
EigenLayer, the enterprise’s flagship platform, allows users to do just that Reuse ETH to secure third-party networks. According to Devilma DataThe protocol is the third largest DeFi protocol, with a total value of assets locked on the platform of $17.97 billion.
Funding is approaching $100 million
According to Dion Analytics Datathe Protocol Guild has already received nearly $95 million in donations, putting it on the cusp of reaching $100 million. This total does not include the 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 resolution Community, they contributed $7.6 million and $3.2 million, respectively.
