Eigen Foundation announces the unlocking of the EIGEN token

Eigen Foundation has announced that it will unlock EIGEN tokens. It essentially means that the native token will be accessible for more utilities to support future open innovation and the ecosystem. At the core of it, the Eigen Foundation is looking to empower developers, partners, and stakers to better engage with EIGEN and its utilities.

Upon unlocking the token, all the participants will have their respective roles to play. For instance, developers will have a foundation to architect Actively Validated Services (AVSs) that leverage the staking mechanism. Similarly, stakers will be able to better secure the network as they attempt to diversify use cases. Finally, ecosystem partners can enhance their protocols by integrating Eigen’s security framework.

The foundational principles of unlocking the token underpin most of it. The depth of the announcement is greater because it outshines what the community can expect in the future, as well as major highlights. The latter includes three elements, namely transferability, open innovation, and collaboration.

Open Innovation, often used the most in the blockchain ecosystem, refers to the responsibility of actively shaping the future of a specific ecosystem—Eigen Foundation in this case. A basic approach is to create services that take it forward under the umbrella of scalability. According to this announcement, it entails creating decentralized services for EigenLayer. Services built on the layers of the Foundation will fuel the development of AVSs, an acronym for Actively Validated Services.

It leverages the security of staked assets to expand applications within the ecosystem. Transferability is, as it sounds, allowing holders to move their EIGEN tokens seamlessly. It boosts flexibility as holders gain the ability to transfer, trade, and stake the said token. Thereby, enhancing their participation within the boundaries of the Foundation. Collaboration brings several builders, developers, and early adopters to the same stage. They can contribute to the execution and validation of tasks.

The Eigen Foundation‘s announcement has sparked an uptick for EIGEN. The token has surged by 17.60% in the last 24 hours, to a value of $4.37 at the time of writing this article.

Moving forward, the Eigen Foundation is planning to initiate staking of EIGEN along with introducing its utility for security and governance. The Foundation will continue to encourage members to participate in conversations to better shape the future of EigenLayer. Needless to say, developers and builders will be pushed to push the envelope in order to improve the decentralized future.

The Eigen Foundation is working on Programmatic Incentives on the sidelines. Defined as a protocol feature, Programmatic Incentives will allow to earn EIGEN rewards to those who stake their native holdings along with operators who are actively participating in the ecosystem.

As for EIGEN as a token, it is poised for jumps per near-term predictions. The next 5 days could see values soar by 30.25%, and the next 30 days could see them rise by more than 200%. The Eigen Foundation’s current trends remain vulnerable to external factors such as overall market sentiments and the objectives of EIGEN investors.