Ever since the Ethereum blockchain transitioned into a Proof-of-Stake (PoS) network after The Merge event in September 2022, there’s been a steep rise of the liquid staking protocols on the platform. However, restaking is getting even more attention in recent times with the rise of liquid restaking tokens (LRTs).
Eigen Layer Becomes Ethereum’s Second-Largest DeFi Protocol
EigenLayer has emerged as Ethereum’s second-largest DeFi protocol by total value locked (TVL), currently standing at $12.4 billion, thanks to Ethereum’s well-established staking infrastructure and surplus security budget. EigenLayer facilitates validators to earn extra rewards by securing actively validated services (AVS) through restaking their staked ETH.
The remarkable growth of EigenLayer’s TVL positions it as the runner-up only to Lido, Ethereum’s leading liquid staking protocol.
EigenLayer’s restaking protocol was launched on Ethereum’s mainnet in June 2023, with AVSs set to be introduced in the
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