EIGEN Token Transfer Restrictions to be Lifted on September 30, 2024

Bittime - The Eigen Foundation announced that EIGEN token transfer restrictions will be lifted on September 30, 2024. 

However, for EIGEN token holders who are currently staking, there is a withdrawal period of 7 days after unstaking done. Read this article to find out more!

EIGEN Token Transfer Restrictions

Once transfer restrictions on EIGEN tokens are removed, token holders can move their assets more freely across platforms and exchanges. 

The lifting of restrictions on EIGEN token transfers is considered important to open up wider market potential for EIGEN. 

When transfer restrictions are lifted, token holders can conduct transactions more flexibly, including selling, buying, or moving tokens to personal wallets or other staking platforms.

Read Also: EIGEN Staking Withdrawal Time Shortened from 24 Days to 7 Days  

Staking and Withdrawal Period of EIGEN Token 

For users who are currently staking EIGEN, please note that withdrawal of tokens from staking cannot be done instantly. 

The Eigen Foundation confirms that there is a 7-day withdrawal period after the unstaking process begins. 

This means that even if transfer restrictions are lifted, if EIGEN tokens are still staked, the withdrawal process will take some time before the tokens are actually available for transfer or reuse.

Impact of EIGEN Token Transfer Restrictions Lifted

This EIGEN token transfer restrictions will be lifted and is believed to have a positive impact on the EIGEN community and users. The liquidity of EIGEN tokens in the market will increase, and token holders will have greater freedom in managing assets. 

Thus, interest in the EIGEN token is expected to increase, both from new investors and those who have long joined this ecosystem.

This step is also a positive signal that the EIGEN project has begun to reach a maturity phase, where tokens can be traded more freely and integrated more deeply with other blockchain platforms.

Read Also: EigenLayer Extends Stakedrop Season 2 Eligibility Verification Deadline   

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