EigenLayer (EIGEN) has formed the Protocol Council to ensure protocol security and evaluate improvement proposals. This council will review and approve EigenLayer Improvement Proposals (ELIPs) to support ecosystem growth. EIGEN is a protocol built on Ethereum that allows staked ETH to be used to secure various decentralized applications. The Protocol Council will oversee the introduction of new features and promote broader ecosystem development. EigenLayer also supports restaking with ERC-20 tokens and offers low-cost data availability for rollups. The EIGEN token has a 24-hour trading volume of over $137.35 million, trading at approximately $2.98 with a market cap of $630 million.



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