EigenLayer launches restaking protocol on Ethereum Mainnet.

According to a press release, EigenLayer, a decentralized finance (DeFi) platform based in Seattle, has launched its restaking protocol on the Ethereum mainnet.

The protocol enables ETH stakers to restake on EigenLayer by depositing liquid staking tokens such as Lido stETH (stETH), Rocket Pool ETH (rETH), and Coinbase Wrapped Staked ETH (cbETH).

EigenLabs, the developer of EigenLayer, raised a total of $64.5 million in a series of investment rounds, including a $50 million Series A in March, at a valuation of $500 million.

The protocol has set participation parameters for liquid restaking and native restaking, with liquid restaking allowing a maximum of 3,200 of each liquid staking token and a maximum of 32 token deposits per address. Native restaking, on the other hand, will be paused once 9,600 ETH has been added.

Liquid staking has become a popular trend since Ethereum switched from proof-of-work to proof-of-stake in September. According to data from DefiLlama, a total of $16.92 billion is currently staked on the top five liquid staking protocols on Ethereum.

Restaking is a concept that allows staked ETH to be used on other protocols in exchange for protocol fees and rewards.

Edited by Nelson Wang.

We will continue to update Phone&Auto; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

DeFi

Podcast Old Wu chats with Winter Soldier Lawyer about the Binance Settlement. Will CZ act as an adviser? Is Binance's biggest problem being too successful?

Editor | Wu Talk Editorial Team does not encrypt the podcast original text link, welcome to listen to the full podcas...

DeFi

Shiba Inu launches Shibarium Ethereum L2 blockchain on mainnet.

In order to become validators, users have the opportunity to lock 10,000 BONE tokens in the Shibarium network. Moreov...

News

Ethereum’s Dencun Upgrade Set to Revolutionize Network Efficiency and Drive Ether Prices Higher

Exciting news for Ethereum enthusiasts as the highly-awaited Dencun upgrade is set to debut on the mainnet on March 1...

DeFi

Lido’s Wrapped Staked Ether (wstETH) Arrives on Coinbase’s Base Network: It’s Party Time!

Beefy Finance successfully launched a version of Lido's wstETH token for the base network, receiving official approva...

Opinion

The correct posture for attacking chain dogs on the blockchain

The majority of 'Tu Gou' projects have short lifespans of 1-3 days. Only a few have the potential to reach a hundred ...

Opinion

Celestia is about to go live, will modular narrative explode?

Celestia, as the first modular blockchain about to go online, marks a major breakthrough in blockchain technology. Th...