EigenLayer Rolls Out Restaking Protocol on ETH
According to a news release, Seattle-based decentralised finance (DeFi) company EigenLayer has deployed its restaking protocol on the Ethereum mainnet.
Staking ETH on EigenLayer is made possible by depositing liquid staking tokens such as Lido stETH (stETH), Rocket Pool ETH (rETH), and Coinbase Wrapped Staked ETH (cbETH).
EigenLabs, the company that created EigenLayer, raised a total of $64.5 million at a $500 million valuation in a series of financing rounds, including a $50 million Series A in March.
The protocol has established participation parameters for both liquid restaking and native restaking, with liquid restaking accepting a maximum of 3,200 of each liquid staking token and a maximum of 32 token deposits per address. Meanwhile, native restaking will be suspended once 9,600 ETH has been added.
(With inputs from Shikha Singh)
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