Coinbase, a leading US cryptocurrency exchange, has added a new Ethereum (ETH) restaking protocol project for pre-launch trading.

EigenLayer (EIGEN) is now available for trading on Coinbase International Exchange and Coinbase Advanced prior to its official launch. This opportunity is open to users in eligible jurisdictions outside of the US, UK, and Canada.

Trading of EIGEN-PERP with up to 2x leverage has begun with an opening price of $7.307 and an Implied FDV of $12.2 billion, as announced by Coinbase.

EigenLayer allows ETH holders to restake their tokens for use as “cryptoeconomic security” for other protocols, offering protocol fees and rewards, according to the EigenLayer website.

The introduction of pre-launch trading on Coinbase is a new feature that allows users to trade perpetual futures contracts on tokens that have not yet launched. These markets provide a platform for price discovery of upcoming projects in a secure environment.

However, Coinbase advises caution when trading pre-launch digital assets, as they come with higher risks and unique considerations. It is important to fully understand the risks associated with these contracts before engaging in trading.

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