EIGEN · still deep in its monthly unlock, supply rising fast.

A fixed 4%-per-year issuance mints new EIGEN as staking rewards for restakers and operators — about 16.5M over 90 days. It runs continuously and can only change through a governance vote.

Investor and early-contributor tokens unlock 36.82M every month — three cliffs land in this window on Jul 1, Aug 1 and Sep 1 2026, releasing ~110.5M EIGEN. This is the dominant sell-side flow and runs to Sep 30 2027.

Tracked overhangs: the community/ecosystem allocation (stakedrops, future initiatives, R&D — 45% of initial supply) and the locked balance not yet circulating (~1.09B, total minus circulating). No discretionary release beyond the monthly vesting schedule above — monitored.

No bankruptcy estate. The investor and early-contributor lockups are released through the scheduled monthly unlock above, not a one-off cliff, and finish Sep 30 2027.

A buyback was proposed under ELIP-12 — an Incentives Committee that would route 20% of subsidized AVS rewards and cloud fees toward EIGEN buybacks — but it is still in governance and not executing on-chain yet, so it removes nothing this window. Monitored.

EIGEN has no fee burn — protocol fees are earmarked for the proposed buyback contract, not destroyed.

No Foundation accumulation programme is buying EIGEN from the market today; the only proposed accumulation is the ELIP-12 buyback above.

No new lockup programme with an announced quantum. Restaking locks EIGEN voluntarily, but there is no protocol-mandated relock that removes supply on a schedule.