EigenLayer (now EigenCloud) is one of crypto's most well-funded and innovative restaking projects. Team fully doxxed (Sreeram Kannan, Eigen Labs) with $220M+ from a16z, Polychain (DB $500M appears inflated). TVL remains impressive at $4.85B, but EIGEN token has collapsed 95%+ from $5.65 ATH to ~$0.20, and protocol has $0 revenue with -$161M cumulative earnings. Eigen Labs cut 25% of staff in July 2025 as focus shifted to EigenCloud rebrand. Original airdrop/stakedrop claim windows closed in 2024-2025; Stakedrops continue but reward restaking activity, not new users. Active address count extremely low (11/day). Sources: coingecko.com/en/coins/eigenlayer, defillama.com/protocol/eigenlayer, eigencloud.xyz. Confidence: high.
[Archive reason: Original EIGEN airdrop/stakedrop claim window from 2024 has closed; project rebranded to EigenCloud; no fresh airdrop opportunity for new users.]