# ezEIGEN EigenLayer recently introduced its [Programmatic Incentives v1](https://www.blog.eigenlayer.xyz/introducing-programmatic-incentives-v1/). Starting from August 15th, 2024: * 4% of the total EIGEN supply will be distributed over the first year: * 3% to ETH/LST stakers and operators * 1% to EIGEN stakers and operators * The EIGEN rewards will be distributed linearly on a weekly basis. Soon after the EIGEN token became transferable, Renzo introduced ezEIGEN to make EIGEN restaking ez pz. ezEIGEN is a liquid synthetic token representing a user’s restaked EIGEN position. ### Security First ezEIGEN smart contracts leverage a battle-tested tech stack, proven through ezETH, enabling EIGEN holders to earn additional rewards that automatically compound within the restaking protocol. ### Rewards * 1 % of the total EIGEN supply * Auto-compounded rewards Please note that ezEIGEN is a reward-bearing token similar to [Compound’s cTokens](https://docs.compound.finance/v2/ctokens/#ctokens). ezEIGEN holders earn EIGEN rewards that will be auto-compounded and reflected in the price of ezEIGEN. As a result, the value of ezEIGEN increases over time relative to the underlying EIGEN as it accumulates more rewards. ### Deposits * Visit * Click Connect Wallet to link your Ethereum wallet. * Enter the amount of EIGEN tokens that you would like to deposit. You can click MAX to enter the maximum tokens available in your wallet. * Confirm the amount and proceed to deposit. * Approve and confirm the transaction on your wallet. Once the deposit is successful, you receive ezEIGEN, representing your restaked EIGEN amount. ### Withdrawals Withdrawals for ezEIGEN are enabled from day one. Once a withdrawal is initiated, it may take up to 14 days to process. Users will need to manually claim their EIGEN once it becomes available. * Visit * Switch between restake and unstake functions by clicking the swap arrow button in the center of the dialog box. * Enter the amount of ezEIGEN tokens that you would like to withdraw. You can click MAX to enter the maximum tokens available * Confirm the amount and proceed to deposit. * Approve and confirm the transaction on your wallet. Once you initiate the withdrawal, you stop accruing any reward on your ezEIGEN. There is a 14-day cooldown period, and you can track the status of your withdrawal in the "Withdrawal tab" located at the bottom of the page, near the AVSs tab. Once your withdrawal is ready, click the Claim button to collect your assets. ### Migration from EIGEN Staking to ezEIGEN Users who have already staked their EIGEN, either directly via the EigenLayer dashboard or through Renzo and other projects, need to unstake their EIGEN first. Visit the EigenLayer dashboard, or if you previously staked through Renzo, you can unstake your EIGEN here: Once you initiate the unstaking transaction, there’s a 14-day cooldown period. You can track its progress here: and claim your EIGEN tokens once they become available. After you claim your EIGEN, visit to deposit your EIGEN.
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