crypto.news13 minutes ago

Published on August 26, 2024 19:01 GMT+00:00edited on August 26, 2024 19:04 GMT+00:00

EigenLayer has announced the mainnet launch of its permissionless token support, significantly expanding the protocol’s restaking feature.

The Eigen Labs team said on X on Aug. 26 that the permissionless token support is now live on the mainnet, allowing any ERC-20 token to be used as a restakable asset on EigenLayer.

Restaking enables participants in the proof-of-stake ecosystem to reuse staked assets to secure additional PoS networks, earning rewards in the process.

“Any ERC-20 asset can now be utilized for cryptoeconomic security. Categories of new ERC-20 assets include native AVS tokens, stablecoins, and BTC-denominated tokens.”

Eigen Labs.

EigenLayer provides for Ethereum (ETH) restaking and has supported the Ether token as well as its native EIGEN.

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