Bankless $EIGEN Token Announcement With Sreeram Kannan and Robert Drost
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Apr 29, 2024 
Sreeram Kannan, co-founder of Eigenlayer, and Robert Drost, director of the Eigenlayer Foundation, break down the innovative $EIGEN token. They introduce the unique 'Stakedrop' concept, detailing its phased rollout and governance through social consensus. Discussions cover intersubjective forking, which enhances security and cements community trust, alongside the importance of transparency in token utility. They also delve into Eigenlayer's role in minimizing barriers for Ethereum innovation while navigating the evolving crypto regulatory landscape.
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Stakedrop and Intersubjective Forking
- EigenLayer's token, EIGEN, is designed for staking and enables new functionalities.
- It features "intersubjective forking," which allows social consensus outside the blockchain.
Responsible Rollout Strategy
- The EIGEN token launch is part of a responsible rollout of EigenLayer components.
- This approach prioritizes stability over hype and allows for careful implementation.
Stakedrop Phases
- The stakedrop has two phases: one for direct restaking and one for derivative protocols.
- Phase two addresses complexities from protocols built on top of EigenLayer.