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EigenLayer On Ethereum Mainnet Is Now Launched

Key Points:

Staking protocol EigenLayer on Ethereum mainnet launched.
Backed by a $100 million raise, EigenLayer gains crypto community support.
With 56 operators securing projects, EigenLayer’s TVL surpasses $13 billion, ranking it as the second-largest DeFi protocol.

EigenLayer has reached a significant milestone in bolstering Ethereum’s infrastructure with the official launch of its staking protocol and data availability solution on the mainnet.

EigenLayer on Ethereum Mainnet Launched

Announced on April 10, the protocol introduces a staking mechanism enabling users to delegate ETH assets and liquid staking tokens to operators. EigenLayer on Ethereum mainnet allows restakers to delegate their restaked balance to EigenLayer operators, empowering them to run active validated services (AVS), such as EigenDA, aimed at enhancing the security of Ethereum-based projects.

The launch of EigenLayer on Ethereum mainnet, however, came with some components yet to go live until later this year, marking a journey from concept to execution.

EigenLayer’s swift progress was highlighted by a recent $100 million capital raise from a16z Crypto in February 2024, bringing the total funds raised to $150 million. The platform has garnered widespread support within the crypto community, evident in the staggering 4.1 million ETH retakes and a surge in new Ethereum validators opting for EigenLayer, accounting for 70% of recent validator retakes.

EigenLayer Dominates DeFi Scene with Record TVL and Operator Support

EigenLayer’s mainnet debut features 56 operators and 13 AVS units, securing nine layer-2 Ethereum projects. Notably, the platform refrains from implementing in-network payment mechanisms and slashing highlights at this stage to foster ecosystem stability, with these features scheduled for introduction in the latter half of 2024.

With successful testnet deployments and a growing ecosystem, EigenLayer‘s vision for Ethereum’s infrastructure continues to gain momentum. Its total value locked (TVL) has surged above $13 billion, ranking it as the second-largest DeFi protocol according to DeFiLlama. EigenLayer’s offering of points for depositors, speculated to determine allocation in a future token, has played a significant role in its rapid growth.

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Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.