One-week token unlock: EIGEN's unlock this week exceeds the circulating supply by 10%.
EigenLayer
Project Twitter: https://x.com/eigenlayer
Project website: https://www.eigenlayer.xyz/
Number of tokens unlocked this time: 36.8 million
Unlocked amount: Approximately US$22.19 million
EigenLayer is a protocol built on top of Ethereum that introduces the concept of restaking, a new primitive in cryptoeconomic security. This primitive allows ETH to be restaken at the consensus layer. Users who have staked ETH can choose to join the EigenLayer smart contract to restake their ETH and extend cryptoeconomic security to other applications on the network.
The specific release curve is as follows:
Ethena
Project Twitter: https://x.com/ethena_labs
Project website: https://www.ethena.fi/
Number of tokens unlocked this time: 212 million
Unlocked amount: Approximately US$59.55 million
Ethena Labs' algorithmic stablecoin USDe currently relies on BTC, stETH, and their inherent yields as collateral. It simultaneously creates short positions in both Bitcoin and ETH to balance the Delta and utilizes perpetual/futures funding rates to maintain the peg and provide yield. Essentially, it uses spot profits to hedge against a 100% loss on short positions, achieving balance while still allowing users to earn ETH staking rewards and short position funding rates.
The specific release curve is as follows:
- 核心观点：两大项目面临大规模代币解锁。
- 关键要素：
- EigenLayer解锁3680万枚，约2219万美元。
- Ethena解锁2.12亿枚，约5955万美元。
- EigenLayer引入再质押，Ethena为算法稳定币。
- 市场影响：短期抛压增加，或影响代币价格。
- 时效性标注：短期影响。
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