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    Eigen Foundation donates 1% of EIGEN tokens to Protocol Guild, boosting Ethereum Investments with Re-staking Innovations

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    The Eigen Foundation is donating 1% of its EIGEN tokens to the Protocol Guild, which supports the Ethereum layer-1 blockchain. EigenLayer allows investors to re-stake their Ether multiple times, benefiting both the investors and the Ethereum network. The trend towards re-staking is attracting new investments to the crypto market, potentially creating a new type of asset and a boon for blockchain protocols and decentralized apps. Currently, there’s around $26.9 billion in re-staking protocols, with EigenLayer accounting for $18.2 billion of it. Recently, EigenLayer introduced re-staking options for Wrapped Bitcoin products.

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    The Eigen Foundation is giving 1% of its EIGEN token stash to the Protocol Guild. These guys are the backbone of the Ethereum layer-1 blockchain. The idea is that this 1% will keep the Protocol Guild up and running. Right now, this guild has 180 members, coming from 29 different teams.

    To keep it simple, EigenLayer is like a savings account for Ethereum. It allows investors to stake their Ether (or stETH). And not just once, but multiple times, which gives investors more chances to profit. At the same time, other platforms use Ethereum’s security. So, this makes EigenLayer a pretty vital part of the Ethereum network. Some people love it while others, not so much.

    Restaking has been in the limelight a lot recently. It’s a great way to bring new money into the crypto market. As more people get into restaking, it could potentially become a new type of asset. This would be huge for blockchain protocols and decentralized apps (DApps) as it would give them more security. The cherry on top is that developers and DApps wouldn’t have to launch a token to secure their networks, making their jobs a lot easier.

    As per DefiLlama, there’s about $26.9 billion currently held in restaking protocols. EigenLayer makes up the majority of this total at a whopping $18.2 billion. Thanks to its popularity, the EIGEN token was able to creep its way into the top 100 cryptocurrencies by market chances in October. It’s currently sitting at 108.

    In November, EigenLayer broadened its horizons by including restaking options for Wrapped Bitcoin products. To put it simply, users can deposit their uniBTC on the ARPA Network and make some returns. This network is supported by EigenLayer.

    Fast forward to December and, as per DefiLlama, the total value held across the decentralized finance ecosystem is nearing highs that haven’t been seen since 2021. Liquid restaking products and the rise of wrapped Bitcoin instruments played a big role in this.

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