Bitfinex was the first to list EIGEN, the native token of EigenLayer.

Bitfinex, a leading digital asset trading platform, announced that it will be one of the first exchanges to list EIGEN, EigenLayer’s native token. According to blog.bitfinex.com, EigenLayer is a decentralized re-staking protocol designed to enhance security and innovation within blockchain networks.

EigenLayer’s rapid growth and innovation

EigenLayer’s platform grew quickly, securing an additional $170 million in venture funding in February 2024. EigenLayer’s total fixed value (TVL) now exceeds $20 billion. EigenLayer extends Ethereum’s existing security infrastructure, allowing developers to create new services that leverage Ethereum’s staked asset protection. This provides immediate economic security for the new service while also allowing stakers to re-deploy their assets across multiple platforms to earn additional rewards.

Role of EIGEN tokens

EIGEN tokens are essential to the EigenLayer ecosystem and complement ETH re-staking. This introduces a mechanism for resolving “intersubjective” errors, i.e. actions that cannot be identified on-chain but still require punishment. This mechanism allows EIGEN to manage these flaws without forking the Ethereum mainnet, maintaining the security and integrity of the network.

EIGEN also enhances the potential to develop a variety of applications on EigenLayer. These include transaction ordering, databases, storage services, oracles, and artificial intelligence processors. Investors can also reap additional rewards by rebalancing assets across multiple platforms, driving security and innovation within the ecosystem.

Bitfinex’s Support for EIGEN

“We are excited to list EIGEN on Bitfinex and support EigenLayer’s pioneering staking approach,” said Henry Child, Head of Tokens at Bitfinex. “EigenLayer’s mission to strengthen blockchain protection while fostering innovation aligns perfectly with our commitment to supporting innovative projects in the digital asset space.”

EIGEN deposits are scheduled to open at 4:00 AM (UTC) on October 1, 2024, depending on network conditions. Trading is scheduled to begin at approximately 5:00 AM (UTC) the same day, subject to liquidity requirements. EIGEN can be traded against the US dollar (EIGEN/USD) and Tether tokens (EIGEN/USDt).

Introduction to Bitfinex

Founded in 2012, Bitfinex is a digital token trading platform that provides cutting-edge services to traders and global liquidity providers. Bitfinex provides access to peer-to-peer finance, OTC markets, and margin trading for a variety of digital tokens. The platform focuses on supporting experienced traders and liquidity providers globally. For more information, please visit www.bitfinex.com.

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