Announcements Introducing Startup Mining Eigenlayer(EIGEN) : Stake to Earn Mining Rewards!

Introducing Startup Mining Eigenlayer(EIGEN) : Stake to Earn Mining Rewards!

2024-10-01 09:58:27 UTC 14093 Read

EIGEN/USDT + 3.92%

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About Gate.io Startup Mining Program
Startup Mining is a platform where users can stake their assets or provide liquidity to earn rewards in new project tokens. Users can lock specified tokens in the Startup Mining pool to receive corresponding project token rewards.
[Visit Startup Mining and learn more](https://www.gate.io/startup-mining?gt_disable_intercept_jump=1&needNavBar=0 "Visit Startup Mining and learn more")

**1.Introduction to “Startup Mining” Project Eigenlayer(EIGEN)**
EigenLayer is a protocol built on Ethereum that introduces restaking, a new primitive in cryptoeconomic security. This primitive enables the reuse of ETH on the consensus layer. Users that stake ETH natively or with a liquid staking token (LST) can opt-in to EigenLayer smart contracts to restake their ETH or LST and extend cryptoeconomic security to additional applications on the network to earn additional rewards.
Website: https://www.eigenlayer.xyz/

**2.Eigenlayer(EIGEN) Mining Rules**
(1) Startup Mining Duration: 11:00 AM on October 1st - 11:00 AM on October 8th (UTC), 2024
(2) Staking Pool: EIGEN
   -Total Staking Rewards: 1,500.0 EIGEN
   -Prize Pool Per Hour: 8.92 EIGEN
   -Hourly Reward Cap Per User: 0.63 EIGEN
   -Minimum Staking Amount: 0.1 EIGEN
   -Unlocking Rule: 100% Unlock

**3.Participation Rules**
(1) Users can stake EIGEN to earn EIGEN.
(2) The system will take multiple snapshots of personal staking amounts hourly, and token rewards are distributed to eligible users. Hourly earnings will be distributed into users' spot accounts.
(3) Hourly staking reward = (Individual latest 1-hour valid staking amount / Total pool staking amount) × Hourly reward pool
(4) Users can increase or redeem the staked assets at any time during the staking period.

**4.Notice**
(1) The system will take multiple snapshots of personal staking amounts each hour, and take the average staking amount as the valid staking amount.
(2) After the staking ends, the staked assets will be automatically redeemed.
(3) After the user redeems in advance or the staking is completed, the staked assets will be transferred to Simple Earn by default. If this option is unchecked, the staked assets will be redeemed into spot assets. If the amount of redeemed assets is too small and does not meet the minimum subscription amount of Simple Earn, the assets will be automatically transferred to spot assets. Additionally, if Simple Earn does not support the subscription of the redeemed token, the assets will also be automatically transferred to spot assets.
(4) Before participating in Startup Mining, please ensure that you fully understand the participation rules. [Click here](https://www.gate.io/help/guide/faq/37021/startup-mining-faq "Click here") to learn more details.
(5) The use of duplicate accounts and any other cheating behaviors are strictly prohibited. Any cheating behavior will result in disqualification for receiving rewards.
(6) Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail.
(7) Gate.io reserves all rights to the final explanation.
(8) This event is not affiliated with Apple Inc. Users in the United Kingdom and other Restricted Locations cannot access the Services (including the participation in this event, game or competition). See the [User Agreement](https://www.gate.io/user-agreement "User Agreement") for further details on Restricted Locations.

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Gate.io Team
October 1,2024

Introducing Startup Mining Eigenlayer(EIGEN) : Stake to Earn Mining Rewards!

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