EigenLayer Permissionless Token Support for ERC-20 Coming Soon

Key Points:

• EigenLayer will soon support any ERC-20 token as a re-pledged asset, enhancing crypto-economic security for decentralized networks.
• The EigenLayer permissionless token support is set to launch on the mainnet next week, with user interface support expected by late Q3 2024.

With upcoming EigenLayer permissionless token support, the protocol will be able to integrate any ERC-20 asset as a re-pledged asset.

Read more: Ethereum Foundation Staff Tied to EigenLayer, Disclosure Prompts Call for Risk Mitigation 

EigenLayer Permissionless Token Support for More Security

EigenLayer permissionless token support is due to be launched on its mainnet next week, and this step is planned to provide more variety in the types of assets used to secure decentralized networks while enhancing the crypto-economic security of ERC-20 tokens.

The new feature will enable the usage of different ERC-20 assets, including native AVS tokens, stablecoins, and BTC-denominated tokens, in order to strengthen crypto-economic security. Successful testnet trials will enable EigenLayer to launch into the mainnet stage, with user interface support expected toward the end of Q3 2024.

EigenLayer Hits Remarkable Growth

EigenLayer is the first project in the restaking space that allows those who have staked ETH to continue earning profits and increasing the Ethereum network’s security.

EigenLayer’s protocol makes it possible to re-stake Ether stakes from validators directly or through liquid staking tokens. This enables shifting user funds to economically secure third-party protocols and creating an expanded security footprint within decentralized finance.

Back at the beginning of the year, Eigen Labs closed out a monumental $100 million investment round led by Andreessen Horowitz. After this infusion of capital, the total value of the project’s assets more than doubled to over $12.6 billion, making the company highly influential within the crypto space.