Subscribe to Bankless or sign in
Launched on mainnet in June 2023, EigenLayer is a collection of smart contracts on Ethereum that allow ETH stakers to validate additional projects with their staked ETH, a.k.a. restaking.
Today, more than 32 million ETH are staked to help validate Ethereum, making the blockchain extremely crypto-economically secure. Through EigenLayer, the idea is that efforts like consensus networks, data availability (DA) layers, oracle networks, and beyond can tap into Ethereum’s extensive security in order to avoid having to launch their own chain infrastructure.
As such, stakers can deposit into EigenLayer contracts to grant the protocol the ability to impose extra slashing conditions on their staked ETH, thus earning more fees on top of their 4-6% staking yields from the additional projects they help secure.
Subscribe for free to continue reading
- Support the Bankless Movement
- Access to thousands of articles
- Complete archive of Bankless episodes
- Embark on free quests in Airdrop Hunter
- Daily alpha in your inbox
Already subscribed? Sign in
