Introduction

Restaking revolutionary, EigenLayer has launched its own token $EIGEN. The “stake drop” was opened to claimers on May 10th. Eligible users are now able to claim $EIGEN tokens from claims.eigenfoundation.org. This is the first phase of the token drops series, and the $EIGEN tokens are currently non-transferable. As a much-anticipated airdrop, this token will facilitate the now-famous EigenLayer ecosystem.

EIGEN Token

In our earlier articles, we have described how EigenLayer is revolutionising building projects on blockchain. EigenLayer has very efficiently utilised the crypto-economic security of staked ETH to power Actively Validated Services (AVSs) and given rise to the restaking world, another great incentive to earn rewards. In this quest, the power of decentralised trust has now been unlocked.

However, this trust mechanism reaches its full potential when stakers are also held responsible for their actions. While ETH provides a good base of security, the new $EIGEN token will help implement penalties such as slashing in order to maintain accountability. This creates a more robust environment for AVSs to function.

As the $EIGEN token soars in popularity and demand, you can learn more about it in our launch x/Twitter thread.

EIGEN: The Universal Intersubjective Work Token

Universal - Can use it for any application

Intersubjective - Enable coordination among external observers. Through its intersubjective nature, people can collaborate and identify faults, ensuring transparency and trust across the… pic.twitter.com/G8xRdKa9k5

— Yanshu | Luganodes (@0xyanshu) May 13, 2024

In this guide, we will demonstrate in detail, how to claim $EIGEN tokens and then stake them using the institutional-grade staking services offered by Luganodes.

Validator Details

Validator Name: Luganodes

Operator Address: 0xa3ff1491088715D140bc821A28287cB3f71B43E4

EigenLayer App Link for the Operator: https://app.eigenlayer.xyz/operator/0xa3ff1491088715D140bc821A28287cB3f71B43E4

Claiming $EIGEN Tokens

Step-by-Step Claim Guide

Step 1: Visit the Claims Portal

Access the Eigen Token claims website at the $EIGEN Token Claims Portal.

Click on "ENTER" to proceed.

Step 2: Connect Your Wallet

Connect your digital wallet by selecting your wallet provider and following the prompts to establish a secure connection.

Step 3: Claim Your Tokens

Follow the on-screen instructions to check your eligibility for the claim.

If eligible, proceed to claim your $EIGEN tokens by following the guided steps provided on the website.

Delegating the Claimed Tokens

Step-by-Step Delegation Guide

Step 1: Access the Platform

Navigate to the Eigenlayer staking interface at the EigenLayer Delegation Portal. Click on "Restake" to access the delegation Interface.

Step 2: Input the deposit quantity

The "Restake" button will take you to the main interface where you can input the quantity of $EIGEN tokens you wish to deposit in the designated field.

Note: If your ETH has already been restaked and delegated to an operator, your $EIGEN will be automatically delegated to the same operator, and no further action is needed.

Step 3: Select Your Operator

Utilise the search function to find node operators either by their name or Ethereum address. Then, select the desired operator's tile to go to their detailed information page.

Here we select our operator Luganodes.

Click on "Submit" to start the Delegation Process

Step 4: Approve, Deposit and Delegate

This step opens up the Deposit and Delegate window, where you will go through a 3 steps - Approve, Deposit and Delegate. You will be redirected to your wallet in each step for confirmation - which you need to approve.

Step 5: Your Delegation is Confirmed

You will now see a confirmation screen for your delegation.

You will be redirected to your main EIGEN dashboard where you can see that the restaked balance is now incremented.

By following these simple steps, you can efficiently delegate your $EIGEN tokens and start earning rewards with your selected EigenDA node operator.

Apart from $EIGEN staking, you can also restake your ETH with Luganodes.

Maximise your Ethereum investments by restaking with EigenLayer through Luganodes. Benefit from supporting innovative Actively Validated Services (AVS) and earn rewards. Restaking is simple with our detailed guide available here.

Explore the list of AVSs we currently support, on our dedicated EigenLayer page. Learn more about staking and restaking on our website, and feel free to contact us for any queries!

About Luganodes

Luganodes is a world-class, Swiss-operated, non-custodial blockchain infrastructure provider that has rapidly gained recognition in the industry for offering institutional-grade services. It was born out of the Lugano Plan B Program, an initiative driven by Tether and the City of Lugano. Luganodes maintains an exceptional 99.9% uptime with round-the-clock monitoring by SRE experts. With support for 45+ PoS networks, it ranks among the top validators on Polygon, Polkadot, Sui, and Tron. Luganodes prioritizes security and compliance, holding the distinction of being one of the first staking providers to adhere to all SOC 2 Type II, GDPR, and ISO 27001 standards as well as offering Chainproof insurance to institutional clients.