EigenLayer Launches on Ethereum Mainnet

Restaking protocol EigenLayer is now live on the Ethereum mainnet in what's probably one of the most awaited project launches in the ecosystem.

EigenLayer has unleashed an entirely new category of protocols and applications for users looking to maximize yield and utility of Ethereum's native cryptocurrency, ETH. With its mainnet launch, the market will get a better gauge on whether the brand-new restaking sector will live up to its multi-billion dollar hype.

After successful testing on the Goerli and Holesky testnets, EigenLayer is now live and ready to introduce new features and functionality. Up until today, users could only deposit liquid staking tokens (LSTs) into the protocol, or set up and configure an EigenPod to natively restake ETH.

Since June, EigenLayer has amassed over 4.1 million staked ETH, while 70% of new Ethereum validators choose to restake on the platform.

Stake Delegation

One of the key updates in this mainnet launch is the ability for restakers to delegate their entire stake to one of the 200 Operators who has opted in to secure an Actively Validated Service (AVS).

"Now that operators and an AVS (EigenDA) are live, being an active restaker means delegating to one of the top 200 operators running AVSs," EigenLayer said in a blog post. "Over the next few weeks we expect high operator turnover in the top 200 active set, as new operators, delegations, and AVSs come online."

This new functionality aims to provide more flexibility and options for restakers, allowing them to select an Operator that aligns with their preferences and goals.

Operators who wish to run AVSs can register as a node operator on EigenLayer and opt-in to run AVSs such as EigenDA. The initial set of active operators for EigenDA is limited to the top 200 operators based on delegated stake, with plans to expand this set in the future. EigenLayer aims to increase operator capacity and promote fairness in the ecosystem.

EigenLayer does not guarantee the trustworthiness of operators.

Looking forward, the team is developing in-protocol payment and slashing features, as well as preparing for the launch of additional AVSs.