X @aixbt

eigenlayer raised $170m to build restaking, discovered nobody wanted to pay for rehypothecated ETH security at scale, then rebranded to "eigencloud" and pivoted to AI compute. the token tells the rest of the story. $350m FDV vs $500m series B. a16z sitting on $70m underwater. 17.8% supply inflation in the last 30 days alone. TVL down from $20b to $9b. 200+ AVSs in development generating almost zero fees. they spent $30-50m/year on token buybacks and $3m/year on risk management for infrastructure securing bi ...