The Eigen Foundation has committed 1% of its EIGEN token supply to the Protocol Guild, a group dedicated to ethereum Layer-1 research and development.
According cryptoslate According to data, the EIGEN token has a total supply of more than 1.6 billion. With this pledge, Protocol Guild could receive up to 1.6 million EIGEN tokens, valued at approximately $8 million, based on the current price of $5 per token.
The Eigen Foundation stated that the transaction for this garment will be executed soon.
Supporting the development of ethereum
In a December 13 post on x (formerly twitter), the Foundation explained that the pledge reinforces its goal of supporting the growth and sustainability of the ethereum ecosystem by funding the Guild.
The Protocol Guild plays a crucial role in the development of ethereum by funding projects and contributors. It currently includes more than 180 members from 29 teams across the crypto space, supporting initiatives such as customer development, research, specifications, testing and coordination.
The Foundation highlighted continued advancements in ethereum, such as zk testing, decentralized storage, and rollups. He expressed his pride in supporting the builders shaping the future of ethereum through the Protocol Guild.
This commitment is intended to ensure that Protocol Guild continues to provide consistent funding for maintainers of ethereum's decentralized infrastructure. He declared:
“At the Eigen Foundation, we share the belief that a decentralized future depends on a robust and well-supported infrastructure. By pledging 1% of EIGEN supply, we aim to help the Protocol Guild sustain the core development of ethereum and maintain its decentralized future.”
EigenLayer, the Foundation's flagship platform, allows users to stake eth to secure third-party networks. According to DeFillama dataThe protocol is the third largest DeFi protocol, with the total value of assets locked on the platform amounting to $17.97 billion.
Funding is approaching $100 million
According to Duna Analytics dataProtocol Guild has already received approximately $95 million in donations, putting it on the verge of reaching $100 million. This total does not include the EigenLayer commit.
Notable contributions include $27.5 million from the Ether.fi Foundation and $20.9 million from Taiko Labs. Other donors, such as the LayerZero Foundation and Arbitrum Community, have contributed $7.6 million and $3. 2 million dollars, respectively.
