First 24 Hours of EigenLayer Brings $500M In Delegated Stake As TVL Hits All-Time High – Crypto News – Crypto News
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First 24 Hours of EigenLayer Brings $500M In Delegated Stake As TVL Hits All-Time High First 24 Hours of EigenLayer Brings $500M In Delegated Stake As TVL Hits All-Time High

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First 24 Hours of EigenLayer Brings $500M In Delegated Stake As TVL Hits All-Time High – Crypto News

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Some major operators have opted in, including Coinbase and Google Cloud.

Restaking protocol EigenLayer had a successful 24-hour debut of its new functionality, bringing in 28 operators and nearly $500 million in restaked ETH.

Operators, which provide network security to applications building on top of EigenLayer called Actively Validated Services (AVS) and include some big names such as staking infrastructure provider for enterprises Figment, Coinbase developer platform, Google Cloud, and Blockdaemon, among others. There are now 28 operators, of the current limit of 200.

The 28 operators received more than 137,000 ETH, or nearly half a billion dollars in delegated stake from 4,000 restakers.

EigenLayer’s total value locked hit an all-time high on April 9, the same day it went live on Ethereum’s mainnet. TVL surged to $13.8 billion Tuesday from $2 billion on Feb. 1, dropping slightly to $13.3 billion Wednesday, as per data from DefiLlama.

4.1 Million Restaked ETH

EigenLayer has sparked an entirely new category within Ethereum, enabling projects to leverage Ethereum’s staked ETH to bootstrap security for their own networks, and opening up new ways for ETH holders to earn yield.

Yesterday’s mainnet launch will offer a temperature check whether the hyped-up staking sector–which is dominated by EigenLayer’s nearly 99% market share – has substance to it.

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

EigenLayer’s mainnet launch triggers an important new feature – the ability for restakers to delegate their entire stake to one of the up to 200 Operators who have opted in to secure an AVS.

This new functionality aims to provide more flexibility and choices for restakers, offering them the option to select an Operator that aligns with their goals.

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

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