The EigenLayer restaking protocol, which has enjoyed considerable success in recent months, is finally partially launched on the Ethereum (ETH) mainnet. What does this mean for
?
The EigenLayer protocol lands on the Ethereum mainnet
As the EigenLayer press release points out, the launch of restaking on Ethereum is relatively new: less than a year. But today, more than 4 million ETH are restacked on EigenLayer, representing the equivalent of $14 billion. So now it’s time for the next step for the protocol, with a launch on the mainnet.
“Today, we keep our promise. […] We are proud to launch EigenLayer and EigenDA on the mainnet. “
What does this mean in concrete terms? Users can now delegate all their tokens in play to the operator of their choice. In addition, operators can now register with EigenLayer to start managing actively validated services (AVS). The arrival of operators on the mainnet will be gradual.
In addition, EigenDA becomes the first AVS to be launched on EigenLayer: this is a data availability process. It enables other protocols to store transaction data or other information. It will be followed by other AVS in the coming months.
Still a limited launch, with more steps to come
The mainnet launch is limited for the time being, however, and several further milestones are expected:
4/ Importantly, this mainnet launch does not include: (1) in-protocol payments from AVSs to operators; and (2) slashing. We are allowing the EigenLayer marketplace to develop and stabilize before introducing in-protocol payments and slashing to mainnet later this year.
– EigenLayer (@eigenlayer) April 9, 2024
“The mainnet launch does not include “in-protocol” payments from AVS to operators, nor slashing. We let the EigenLayer marketplace develop and stabilize. “
In other words, the rewards have not yet been distributed. EigenLayer expects these features to be launched on the mainnet by the end of the year. Between now and then, the protocol is expecting a major overhaul:
“Over the next few weeks, we expect a significant turnover of the top 200 operators, as new operators and AVSs connect. “
The billion-dollar protocol is well on its way to becoming a fixture in the ecosystem
