EigenLayer's TVL crosses $15 billion as restaking protocol expands ecosystem
DeFi • April 23, 2024, 3:28AM EDT
Published 1 minute earlier on
Quick Take
- The total value locked on Ethereum restaking protocol EigenLayer has surpassed $15 billion.
- EigenLayer recently allowed actively validated services to come online.
The total value locked on Ethereum restaking protocol EigenLayer surpassed $15 billion after the project recently lifted its caps. The platform allows users to stake native ether and liquid staked ether, which is then restaked to secure other protocols. The TVL jump came after EigenLayer had its anticipated launch on April 9, allowing actively validated services to come online. The project added several updates following the launch, most recently lowering the minimum stake for the operators on its data availability layer EigenDA, from 320 ETH to 96 ETH. After the recent update, EigenLayer launched six new actively validated services, which have a broad range of functionalities to address various needs in the Ethereum ecosystem. The added services include AltLayer, Brevis, Eoracle, Lagrange, WitnessChain, and Xterio. Having generated a significant amount of buzz pre-launch, EigenLayer attracted cloud divisions from high-profile names such as Google, Coinbase and HashKey to join the project protocol operators. “EigenLayer amplifies the utility of ETH as collateral for economic security,” EigenLayer founder Sreeram Kannan wrote on X. “The more ETH is available as collateral, the more the incentive to set ETH as the risk asset.” Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures. © 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
About Author
Danny Park is an East Asia reporter at The Block writing on topics including Web3 developments and crypto regulations in the region. He was formerly a reporter at Forkast.News, where he actively covered the downfall of Terra-Luna and FTX. Based in Seoul, Danny has previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.
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