EigenCloud

EIGEN is the token of EigenLayer, a restaking protocol on Ethereum, now part of the EigenCloud platform for verifiable apps.

EigenLayer lets people who stake ETH, or hold liquid staking tokens, reuse that stake to secure other services, called AVSs (actively validated services). Operators run these services, and stakers delegate to them. If an operator misbehaves, the stake can be slashed (partly taken away). In 2025 the project grouped its services, including EigenDA for data and EigenCompute for computation, under the name EigenCloud.

EIGEN is the project's token. It can be staked to secure services and is meant to handle faults that cannot be proven by code alone, through a forking mechanism. Holders also earn rewards for staking with operators that run AVSs.

The initial supply was about 1.67 billion EIGEN, and new tokens are issued for rewards (initially 4% of the initial supply a year). About 55% went to investors and early contributors, unlocking monthly until about September 2027. Since a December 2025 change, rewards go mainly to services that pay fees, and EigenCloud fees fund EIGEN buybacks.