On April 9, the EigenLayer team announced that the platform's EigenDA, the first validation service available, had launched on the ethereum mainnet.
The team aggregate that over 4.1 million eth had been re-staked on EigenLayer and, in recent weeks, 70% of all new ethereum validators had been re-staked on the platform.
Additionally, reinstakers can now delegate their entire stake to an operator who has chosen to run validation services available such as EigenDA.
<blockquote class="twitter-tweet”>
Announcement: EigenLayer Released EigenDA Mainnet pic.twitter.com/bTp5BfnsKE
– Own layer (@capaeigen) twitter.com/eigenlayer/status/1777757913718899074?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank”>April 9, 2024
The reformulation of the narrative grows
The recovery allows users to stake the same eth on both ethereum and other protocols. Platforms like EigenLayer leverage ethereum's validators and staked tokens, allowing smaller and newer blockchains to benefit from its security and trust system.
EigenLayer also faces a balance between neutrality, which allows free market behavior, and decentralization, thus avoiding the dominance of a single betting provider.
Additionally, EigenDA provides hyperscalability, cost flexibility, and ease of integration for rollups. It aims to be the final solution for data availability on ethereum.
Rollups can be added to the EigenDA mainnet after the operator is established and delegations stabilize, he said.
“Over the next few weeks, we expect high operator turnover across the top 200 assets as new operators, branches and AVS come online.”
AVS in-protocol payments to operators and reduction mechanisms are not yet included, but will be added later in 2023, the announcement notes.
An AVS is essentially a middleware or service that runs on top of the EigenLayer protocol to provide specific functionality. AVS act as a layer between the ethereum execution layer and the various rollups, blockchains, and networks built on top of the L1 network.
EigenLayer's total value locked is currently $13.3 billion, having soared 1,100% since the beginning of this year, according to DeFiLlama.
ethereum Staking Outlook
The ethereum staking ecosystem is extremely healthy, with around 27% of the total circulating supply currently staked.
This is equivalent to 32.2 million eth, according to Dune Analytics, worth around $112 billion at current spot prices. ethereum also has just over a million validators, making it one of the most secure blockchains in the crypto space.
Lido remains the dominant provider of liquid staking, with 29% of the total amount staked, or $33.2 billion in eth.
LIMITED OFFER 2024 for CryptoPotato readers on Bybit: Use this link to register and open a $500 btc-USDT position on the Bybit Exchange for free!
<!– ai CONTENT END 1 –>
<script async src="//platform.twitter.com/widgets.js” charset=”utf-8″>
