2024-04-23
EigenLayer’s total value locked reached $15 billion on
Apr 23, 2024. Its TVL has been growing from $1 billion in December 2023.
EigenLayer is a restaking platform. It
provides additional functionality or security to an existing blockchain
network.
EigenLayer is a protocol built on
Ethereum that introduces the concept of restaking, which is a new primitive in
cryptoeconomic security.
This innovative approach allows ETH
stakers to use liquid staking tokens and ETH native token to provide security
for multiple protocols and applications on Ethereum and beyond, effectively
leveraging Ethereum's highly secure trust network.
By restaking their ETH or liquid
staking tokens, users can participate in securing a variety of decentralized
applications and services, ranging from data availability layers to
decentralized sequencers and oracles.
This not only enhances the security of
the Ethereum network but also offers stakers the opportunity to earn additional
rewards. The development of EigenLayer represents a significant step forward in
the evolution of blockchain technology, offering a more efficient and flexible
use of staked assets.
EigenLayer has 2 main products, restaking
and EigenDA. EigenDA is a data availability provider.
EigenLayer recently updated the minimum stake for the
operators on its data availability layer EigenDA, from 320 ETH to 96 ETH.
Both restaking and EigenDA have contributed
to the growth of EigerLayer’s TVL.
