DeFi & L1L2 Weekly - 📈 EigenLayer Withdrawal Queue Rises Amid EIGEN Airdrop Controversy
DeFi & L1L2 Weekly - 📈 EigenLayer Withdrawal Queue Rises Amid EIGEN Airdrop ControversyEigenLayer withdrawal queue count rises amid EIGEN airdrop controversy. Runes make up over two-thirds of Bitcoin transactions since its launch. BlackRock’s BUIDL leads the tokenised fund race.Weekly DeFi IndexThis week's market capitalisation and volume indices were negative at -12.63% and -6.45% respectively, while the volatility index was positive at +15.37%. Chart of the WeekEigenLayer, the largest Ethereum restaking protocol, has received over 12,412 withdrawal requests since it released its EIGEN token whitepaper on 29 April. This withdrawal count represents around 11.6% of the 107,000 total unique depositors in the protocol. This is expected to reduce EigenLayer’s TVL from US$14.8 billion down to US$13 billion. The exodus follows the community’s disappointment surrounding EigenLayer’s planned EIGEN airdrop, which imposed geo-restrictions on key jurisdictions such as the US, Canada, and several African and Asian countries. Furthermore, others have also voiced out concerns regarding its non-transferable token structure and an apparently short snapshot period. The full effects of the mass withdrawal will only be more apparent in the coming weeks once these withdrawals have been processed.
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Wednesday, April 24, 2024
Ethereum liquid restaking drives DeFi TVL to 2-year highs. Cronos unveils Spring Odyssey campaign powered by Galxe. Runes launch fueled Bitcoin miners' earnings to surge. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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