EigenLayer has recently updated its documentation to enhance transparency regarding its staking practices and reward distribution. This update comes in response to criticisms that early investors were able to stake locked EIGEN tokens while receiving unlocked rewards, a practice that was not initially disclosed.
Concerns surrounding the treatment of early investors led to confusion over the actual circulating supply of the EIGEN token. On social media, community member Karl_0x highlighted that 40% of all staked EIGEN tokens originated from just 13 investor addresses, misleading the public into believing these tokens were in circulation.
According to Kairos Research, the total circulating supply of EIGEN tokens is expected to be around 200 million from a total supply of 1.67 billion tokens. However, only 85.4% of tokens were claimed in the first stakedrop season, and just 21.7% in the second, resulting in a true circulating supply of about 114 million EIGEN tokens.
Despite the recent updates, community members like TardFiWhale expressed that these disclosures should have been communicated earlier. EigenLayer's platform currently holds over $12 billion in total value locked, down from a $20 billion peak in June, with the EIGEN token trading at approximately $3.53.
