Buying Eigenlayer EIGEN token at Pre-Market before Listing?

Bulltard

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Quote from: Altcoiner007 on May 04, 2024, 10:28:46 AM

What are your opinions on the Ethereum restaking platform Eigenlayer? Users were previously disappointed with Eigen Labs' complex white paper and limited rewards, leading them to withdraw 25,000 ether from the platform. However, EigenLayer is now distributing an additional 100 EIGEN to 280,000 qualifying wallet addresses after criticism of their initial airdrop.

Some users, aware of the $100 million funding from venture capital firm Andreessen Horowitz, are now actively engaging in Pre-Market trading here, which recently added EIGEN for trading before its official exchange listing. It remains to be seen if this trading activity is driven by FOMO or significant expectations as to what will be the market action due to the project developments and marketing partnerships.

err... EIGEN won't be transferable before september.

if i were you, i'd trust the process and delegate my airdroped EIGEN.

shinratensei_

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Quote from: batang_bitcoin on May 05, 2024, 05:51:43 PM

Do you know what's disappointing on EIGEN? This is what I have seen mostly on people about their airdrop and that was Justin Sun has got a lot of it that are about to receive because he's participated with a lot of his Ethereum. I didn't know much about it until I see people have been sharing that in socials and they're saying that's the advantage when someone has got a lot of money. IMO, there's no problem with that as everyone is equal about participating on it but it's true, the more money, the more risk and reward.

that is why sometime people demand tiered system whenever justin sun is also participating into the project because he'd just gonna get all the rewards even if he's coming late he can easily get 50% of the reward which honestly is ridiculous, this also means that people who risked money even though not as much as justin sun but has been doing it from the early days where they might be the reason the project could be valued and invested by other venture capital in the first place are getting ignored when the distribution is linear.

the sole reason why EIGEN might be disappointing for people that staked above average money but got rewarded more or less the same compared to people that just invested pennies.
the devs honestly could turn thing around just like etherfi awarding people with greater prize which right now seems eigen layer team have been doing airdropping hundreds of EIGEN to even the smallest staker there is but doesn't ignore the fact that linear distribution favours certain group of people too much here.

bluebit25

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In addition, this is also a place for people to evaluate EIGEN's price app(dot)whales(dot)market/?token=EIGEN

I think that is a great reward for everyone who participates in the event on this platform. And if calculated according to the current value, about $800 is a large amount of money for users. There are cases where users who stake in large quantities can earn many tokens and the reward value will also increase a lot.

To me, EIGEN is still a promising growth platform service, considering the potential, it is not too surprising if they launch tokens and trade most major CEXs with valuations that can be in the top 50.

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Quote from: batang_bitcoin on May 05, 2024, 05:51:43 PM

Do you know what's disappointing on EIGEN? This is what I have seen mostly on people about their airdrop and that was Justin Sun has got a lot of it that are about to receive because he's participated with a lot of his Ethereum. I didn't know much about it until I see people have been sharing that in socials and they're saying that's the advantage when someone has got a lot of money. IMO, there's no problem with that as everyone is equal about participating on it but it's true, the more money, the more risk and reward.

That means if the reward calculation method must be revamped. I do know that how justin sun is always robbing a lot of rewards when he deposits 120k ethereum. He has done it a few times. It must be noted that if justin sun was not alone. he is also having a team who helped him staked in the various staking platform too.
I have been seeing many people were also questioning this but the developers can do nothing about that since they are not willing to ban this garbage whale. Eigen at least does it better by adding more allocation to the little shrimps who have no money to fight against justin soon.

As far as i know if huobi team is also actively investing in the staking platform. N doubt that if many people are getting upset with how justin sun grabbed millions of reward from the total allocation easily.
This is why the reward distribution method must be revamped in order to bring fairness to the all of stakers.

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Quote from: batang_bitcoin on May 05, 2024, 05:51:43 PM

Do you know what's disappointing on EIGEN? This is what I have seen mostly on people about their airdrop and that was Justin Sun has got a lot of it that are about to receive because he's participated with a lot of his Ethereum. I didn't know much about it until I see people have been sharing that in socials and they're saying that's the advantage when someone has got a lot of money. IMO, there's no problem with that as everyone is equal about participating on it but it's true, the more money, the more risk and reward.

Not only in EIGEN but he also made a whopping 120k ETH deposit in SWEL another ETH restaking protocol. These whales kicks retail and small participants out of the game as most of the drop will be accumulated by them. The price will also drop sharply. These drops shows the more money you have and you are willing to risk the more reward you will be able to accumulate. I saw that per EIGEN token is around 10$ which is overvalued i think and it will be risky to invest when it can fall sharply due to whales like justin.

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Quote from: batang_bitcoin on May 05, 2024, 05:51:43 PM

Do you know what's disappointing on EIGEN? This is what I have seen mostly on people about their airdrop and that was Justin Sun has got a lot of it that are about to receive because he's participated with a lot of his Ethereum. I didn't know much about it until I see people have been sharing that in socials and they're saying that's the advantage when someone has got a lot of money. IMO, there's no problem with that as everyone is equal about participating on it but it's true, the more money, the more risk and reward.

Certainly, the genuine participant in Eigenlayer staking platform are not happy withe distribution system that allows individual like justin Sun can acquire significant amount of EIGN tokens as staking reward due to his substantial Ethereum stake. In order to ensure transparency and fairness of reward distribution system, it is imperative to introduce upper cap limit. this measure would enable small investors to receive fair portion of reward alongside large stake holders.

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Quote from: kentrolla on May 05, 2024, 06:53:31 AM

I feel this is something which can be risky but at the sametime if this goes well as per their promise then that risk would be worth it. Nowadays it's getting more and more difficult to predict or suggest on new coins because of all the scam and shitty projects we have been part of, I personally have decided to stay away from coins before they are listed and would suggest the same for everyone.

Nothing is safe in this world but all has their own set of risks and as they say, no risk no reward, so yeah.
I actually think that predicting have become easier the longer it gets. I guess this is because of our past observations on how a crypto performs and most of the time history is only repeating itself.

If we think a crypto has a potential to be a scam, we can skip it or advice only for someone else to hold it for the short term. When it comes to the coin here in our subject, it is seems that many users above are positive about it. Hmm... maybe the coin is truly great? And they even gave it a good starting price by the time it gets listed on the exchanges.

batang_bitcoin

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Do you know what's disappointing on EIGEN? This is what I have seen mostly on people about their airdrop and that was Justin Sun has got a lot of it that are about to receive because he's participated with a lot of his Ethereum. I didn't know much about it until I see people have been sharing that in socials and they're saying that's the advantage when someone has got a lot of money. IMO, there's no problem with that as everyone is equal about participating on it but it's true, the more money, the more risk and reward.

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Quote from: kentrolla on May 05, 2024, 06:53:31 AM

I feel this is something which can be risky but at the sametime if this goes well as per their promise then that risk would be worth it. Nowadays it's getting more and more difficult to predict or suggest on new coins because of all the scam and shitty projects we have been part of, I personally have decided to stay away from coins before they are listed and would suggest the same for everyone.

Ultimately, everything in life is risky. The same goes with acquiring pre-market tokens like $EIGEN. even binance list new tokens with the seed tag because of the inherent risks that new tokens poise. I understand your point and I stand by it. There are people with wild appetite for risks that might take it on and make profit from it. For instance, HyperLiquid (a decentralized perp platform on arbitrum) offered premarket perps for wormhole and I went max long on it. Outcome, good even though I closed it too soon. $1.3 to $1.8.

The price was $0.73 last time time I check so your thesis about staying away from premarket tokens checks out because premarket buyers are down what, 80%+?

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Quote from: Iamcrypticguy on May 05, 2024, 01:55:45 AM

Quote from: X-ray on May 04, 2024, 11:18:05 PM

if you sure that the price of EIGEN could pump after the listing making the price of pre market looks attractive then you can go ahead and buy through the pre market.
personally I will just see the first minutes of listing and find out where is the bottom floor, people will definitely dumps their token the first it got into exchange.
even more so when there are many people that got the airdrop added with the fact that there's 100 EIGEN for whomever interacted with eigen protocol.
i find that the sell pressure might be high when the first minute it got listed then things get better overtime, that might be a good opportunity to buy.

what I hate about pre market though, its just as uncertain as buying the first minute of listing, you can never know whether buying at pre market rates gonna give you profit or loss.
its all speculation anyways.

True. But if it pays off you'll be gaining more. I think the 100 tokens will be claimable in September, that might mean no much sell pressure when it's listed. EIGEN is around $9 on Bitget. Might probably place a bet on it. Let's see what happens on the 10th during tge

If the 100 tokens will truly be claimable in September, then I might just have to consider the Pre-Market option. I sometimes like riding with the initial hype rather than buy the dip after the initial market action and wait for market to recover.

Sayeds56

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Quote from: Altcoiner007 on May 04, 2024, 10:28:46 AM

What are your opinions on the Ethereum restaking platform Eigenlayer? Users were previously disappointed with Eigen Labs' complex white paper and limited rewards, leading them to withdraw 25,000 ether from the platform. However, EigenLayer is now distributing an additional 100 EIGEN to 280,000 qualifying wallet addresses after criticism of their initial airdrop.

Some users, aware of the $100 million funding from venture capital firm Andreessen Horowitz, are now actively engaging in Pre-Market trading here, which recently added EIGEN for trading before its official exchange listing. It remains to be seen if this trading activity is driven by FOMO or significant expectations as to what will be the market action due to the project developments and marketing partnerships.

I am one of the airdrop recipients and hopefully, will receive more than 100 EiIGN tokens as staking reward of Ethereum on their platform, hence I am not willing to buy them from pre-market. The price of EIGN oin pre-market is around $10 which seems on lower side, in my opinion it is attractive price given its long term growth potential. However, evaluate your risk tolerance before making investment decision.

makishart

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Quote from: Altcoiner007 on May 04, 2024, 10:28:46 AM

What are your opinions on the Ethereum restaking platform Eigenlayer? Users were previously disappointed with Eigen Labs' complex white paper and limited rewards, leading them to withdraw 25,000 ether from the platform. However, EigenLayer is now distributing an additional 100 EIGEN to 280,000 qualifying wallet addresses after criticism of their initial airdrop.

Eigen is good. One of hyped staking platform. Eigen was totally aware if the community was important after they were seeing so numerous complaints that have come to the project. The main problem if people were starting to withdraw their ethereum from eigen layer after the project announced that small rewards for the stakers.
Justin sun has robbed a lot of rewards from the honest participants. I would rather than wait a day after the listing of token. Buying it now is pure speculation. I remind you that if token will be transferable around september. Buying eigen for now is pretty much the same like speculating on the price of token.

Quote from: Altcoiner007 on May 04, 2024, 10:28:46 AM

Some users, aware of the $100 million funding from venture capital firm Andreessen Horowitz, are now actively engaging in Pre-Market trading here, which recently added EIGEN for trading before its official exchange listing. It remains to be seen if this trading activity is driven by FOMO or significant expectations as to what will be the market action due to the project developments and marketing partnerships.

I think that funding has not determined the price of eigen token. People have been driving by FOMO to buy eigen layer caused by there will always be a second wave of airdrop. I will not fully trust the pre market but i can only believe that if the majority of price after the trade has been starting was very close to the pre market price.
The thing that makes me uncertain whether it will be dumping from the pre market price. It is really worrying me after i was seeing how ernzo has been also facing terrible situation.

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Quote from: Sophokles on May 05, 2024, 05:50:47 AM

Its valuation is already high. In the listing time, there won't be any sell pressure as airdrop rewards will not be claimable right away but still, with 9$ per token the valuation is super high in my opinion. There can be a spike but how much ROI can it bring from these points. It can be a risky bet and there can be some speculation as well. I am not buying EIGEN from pre market at this point but it is true that in the time of listing there won't be much of a sell pressure.

Yeah Im not sure when is the circulation will take place as per new announcement unlocking will start at September so likely thats the time of the real time trading too.

I only got from using LRT so Im not gonna buy any eigen hence will only rely on those free airdrops from farming more safe.

kentrolla

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I feel this is something which can be risky but at the sametime if this goes well as per their promise then that risk would be worth it. Nowadays it's getting more and more difficult to predict or suggest on new coins because of all the scam and shitty projects we have been part of, I personally have decided to stay away from coins before they are listed and would suggest the same for everyone.

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Quote from: Altcoiner007 on May 04, 2024, 10:28:46 AM

What are your opinions on the Ethereum restaking platform Eigenlayer? Users were previously disappointed with Eigen Labs' complex white paper and limited rewards, leading them to withdraw 25,000 ether from the platform. However, EigenLayer is now distributing an additional 100 EIGEN to 280,000 qualifying wallet addresses after criticism of their initial airdrop.

Some users, aware of the $100 million funding from venture capital firm Andreessen Horowitz, are now actively engaging in Pre-Market trading here, which recently added EIGEN for trading before its official exchange listing. It remains to be seen if this trading activity is driven by FOMO or significant expectations as to what will be the market action due to the project developments and marketing partnerships.

Investors and teams will be locked in for one year but I don't know about retail investors if it will be the same, but what I read where it will be announced soon in September about this token transfer feature, so those who will receive the EIGEN token airdrop will not feel it immediately after listing.

The Pre-Market still doesn't understand if the price will be appropriate later? For me this is FOMO for those who did not receive the airdrop from the restaking maybe they bought before the listing and expected the price to be lower than that after the listing became their expectation.

Sophokles

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Its valuation is already high. In the listing time, there won't be any sell pressure as airdrop rewards will not be claimable right away but still, with 9$ per token the valuation is super high in my opinion. There can be a spike but how much ROI can it bring from these points. It can be a risky bet and there can be some speculation as well. I am not buying EIGEN from pre market at this point but it is true that in the time of listing there won't be much of a sell pressure.

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Quote from: X-ray on May 04, 2024, 11:18:05 PM

if you sure that the price of EIGEN could pump after the listing making the price of pre market looks attractive then you can go ahead and buy through the pre market.
personally I will just see the first minutes of listing and find out where is the bottom floor, people will definitely dumps their token the first it got into exchange.
even more so when there are many people that got the airdrop added with the fact that there's 100 EIGEN for whomever interacted with eigen protocol.
i find that the sell pressure might be high when the first minute it got listed then things get better overtime, that might be a good opportunity to buy.

what I hate about pre market though, its just as uncertain as buying the first minute of listing, you can never know whether buying at pre market rates gonna give you profit or loss.
its all speculation anyways.

True. But if it pays off you'll be gaining more. I think the 100 tokens will be claimable in September, that might mean no much sell pressure when it's listed. EIGEN is around $9 on Bitget. Might probably place a bet on it. Let's see what happens on the 10th during tge

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if you sure that the price of EIGEN could pump after the listing making the price of pre market looks attractive then you can go ahead and buy through the pre market.
personally I will just see the first minutes of listing and find out where is the bottom floor, people will definitely dumps their token the first it got into exchange.
even more so when there are many people that got the airdrop added with the fact that there's 100 EIGEN for whomever interacted with eigen protocol.
i find that the sell pressure might be high when the first minute it got listed then things get better overtime, that might be a good opportunity to buy.

what I hate about pre market though, its just as uncertain as buying the first minute of listing, you can never know whether buying at pre market rates gonna give you profit or loss.
its all speculation anyways.

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I'm a recipient of the EigenLayer drop albeit a small user for their season 1 points program as majority of my points will be accounted for season 2 — post march 15th 2024 snapshot. That said, I won't be engaging in the pre-market to buy, if anything, I can sell a bit of my tokens and then settle when the tokens are transferable. Personally, if I don't sell tokens before they become transferable, I might just go on Aevo or HyperLiquid perpetual futures platform to speculate on the price growth with leverages.

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What are your opinions on the Ethereum restaking platform Eigenlayer? Users were previously disappointed with Eigen Labs' complex white paper and limited rewards, leading them to withdraw 25,000 ether from the platform. However, EigenLayer is now distributing an additional 100 EIGEN to 280,000 qualifying wallet addresses after criticism of their initial airdrop.

Some users, aware of the $100 million funding from venture capital firm Andreessen Horowitz, are now actively engaging in Pre-Market trading here, which recently added EIGEN for trading before its official exchange listing. It remains to be seen if this trading activity is driven by FOMO or significant expectations as to what will be the market action due to the project developments and marketing partnerships.

Topic: Buying Eigenlayer EIGEN token at Pre-Market before Listing? (Read 187 times)