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EigenLayer's recent EIGEN "stake drop" wasn't the moment of industry ecstasy many had hoped for.
Although some novel design features attracted praise, the overall sentiment seemed to skew negative. EIGEN’s initial non-transferability, VC-centric token allocations, and the lack of outright rewards for key DeFi protocols that had driven significant engagement to EigenLayer left many feeling sidelined.
While alternative restaking protocols have been in development for a while, this mixed reaction to EigenLayer's token drop has shifted some interest towards other players, competitors on Ethereum, and protocols blazing the trail on other networks.
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* Bankless team holds crypto assets and advise crypto projects. BounceBit is included in our disclosures. See our complete investment disclosures here
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