EigenLayer To Launch Stage 1 Testnet For Stakers

Key Points:

• EigenLayer, the restaking protocol that secured $50 million in funding last month, has announced the launch of its testnet.
• As planned, the protocol will launch in 3 phases for Stakers, Operators, and Services.
• The testnet is still in its early stages, running on the Ethereum Goerli network, and only supports native and liquid restaking.

Ethereum restaking protocol EigenLayer has announced the opening of the testnet for the first stage of the protocol to stakeholders.

The EigenLayer protocol’s mainnet debut is not scheduled until Q3, however, it will be staged in three phases to integrate diverse parties into the ecosystem:

• Stage 1: Stakers – Stakeholders will be onboarded into EigenLayer restaking.
• Stage 2: Operators – node operators will be aboard and will be able to accept delegation from retakers.
• Stage 3: Services – the first actively verified EigenLayer services will be onboarded.

EigenLayer also expects to facilitate restaking for ETH taken from the Beacon Chain as a result of the Shapella update, according to the white paper.

The Ethereum Goerli testnet is used for the stage 1 testnet, which is not rewarded. It supports two types of restaking: liquid restaking and native restaking. The Stage 1 testnet presently supports stETH and rETH for liquid restaking.

Moreover, the community may participate in the design process and keep track of the protocol source code. The audit will be finished shortly, according to the project. Those who want to join the testnet should go to the project’s official announcement channels and follow the guidelines.

EigenLayer aspires to create a decentralized marketplace where Ethereum node operators and validators may earn money for providing extra services.

It enables users to reclaim assets obtained in return for staking Ether on platforms like as Lido (stETH) and RocketPool (rETH). Other networks, like as sidechains or non-EVM blockchains, may utilize the assets to verify and secure them.

In March, the project announced a $50 million Series A fundraising round headed by crypto venture company Blockchain Capital, together with Coinbase Ventures, Polychain Capital, Electric Capital, and Finality Capital Partner.

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