Binance Lists EIGEN, Expanding Into Liquid Staking
Binance, the world’s largest crypto exchange by trading volume, has added **EIGEN**, the native token of EigenLayer, a leading restaking protocol on Ethereum, to its platform. This move marks Binance’s continued push into the liquid staking space.
Starting October 1st at 05:00 UTC, users can trade EIGEN against BTC, USDT, FDUSD, and TRY. To prepare for trading, users can deposit EIGEN starting now, with withdrawals becoming available on Wednesday.
Binance is offering **zero trading fees** for EIGEN, a move designed to attract more activity. However, the exchange has cautioned that EIGEN, being a relatively new token, carries higher-than-normal risk and may experience significant price volatility. To reflect this, Binance will apply a seed tag, a special identifier to distinguish EIGEN from other tokens.
## What is EigenLayer?
EigenLayer is a protocol that allows users to restake their Ethereum (ETH) and earn rewards while simultaneously participating in decentralized finance (DeFi) applications. This is made possible through **liquid staking tokens (LSTs)**, which represent staked ETH but can be traded and used in DeFi applications.
EigenLayer has seen significant growth in its Total Value Locked (TVL), suggesting increasing user adoption. Currently, the TVL on EigenLayer stands at $11.982 billion.
## What’s Next for EIGEN?
Other exchanges, including Bybit, MEXC, Gate.io, and Kraken, are also expected to list EIGEN soon. This move could be a positive development for related projects, according to Tanaka, a contributor at Hashflow.
Binance’s addition of EIGEN to its platform is a major step for the EigenLayer ecosystem. It provides increased liquidity, access, and visibility for the project and could lead to wider adoption of liquid staking.
**Links:**
* [EigenLayer](https://eigenlayer.io/)
* [Binance](https://www.binance.com/)
