- Yesterday, the Ethereum mainnet saw the introduction of the restaking platform EigenLayer and its data availability layer EigenDA.
- By doing this, investors can assign their entire investment to a chosen operator, and operators can choose whether to use EigenLayer for actively verified services (AVS).
On Tuesday, the Ethereum mainnet saw the introduction of the restaking platform EigenLayer and its data availability layer EigenDA.
According to an official statement from EigenLayer’s developers, the change enables restakers to assign their whole stake to their favorite operator and gives operators the option of running an actively verified service (AVS) on EigenLayer. It also allows AVSs to register for EigenDA’s beta version.
By staking Ethereum on EigenLayer, users can obtain a liquid staking token (LST), which they can restake for additional benefits. EigenPod, a user-managed smart contract that assists with balance monitoring and withdrawal statuses, is used to perform the native restaking.
“Until now, restaking in EigenLayer meant simply depositing LSTs, or setting validator withdrawal credentials to an EigenPod,” EigenLayer stated in a press statement.
“Being an active restaker now entails assigning work to one of the top 200 operators managing AVSs, as operators and EigenDA, the AVS, are operational.
As more operators, delegations, and AVSs go online over the coming weeks, we anticipate a significant operator change in the top 200 active set.”
However, cutting and AVS in-protocol payments to operators are not involved in the mainnet deployment.
“We are allowing the EigenLayer marketplace to develop and stabilize before introducing in-protocol payments and slashing to mainnet later this year,” the protocol was stated in the announcement.
The punitive action known as “slashing” is the process by which validators that engage in inappropriate behavior or disregard protocol rules risk losing some of the ETH they have staked.
Total value locked (TVL) held by EigenLayer is approximately $13.4 billion, according to the crypto data tracker DeFiLlama. On March 6, 2024, EigenLayer crossed the $11 billion TVL mark.
With its September 2023 announcement, EigenDA seeks to reduce the cost of data storage for Ethereum Layer 2 rollups. All decentralized applications can benefit from this, but social media and gaming initiatives especially.
EigenLayer’s daily TVL in native restaking alone reached $9.56 billion as of April 9.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
