EigenLayer Launches EigenDA Validator Service on Ethereum Mainnet
EigenLayer Launches EigenDA Validator Service on Ethereum Mainnet, Over 4.1 Million ETH Restaked
The EigenLayer team made a significant announcement on April 9, revealing the launch of EigenDA, the first Available Validator Service on the Ethereum mainnet. This development marks a major milestone for the platform, as it aims to revolutionize the staking ecosystem on Ethereum.
According to the team, over 4.1 million ETH has already been restaked on EigenLayer, with a notable 70% of all new Ethereum validators choosing to restake on the platform in recent weeks. This surge in activity highlights the growing interest and confidence in EigenLayer’s offerings.
One of the key features of EigenDA is its ability to allow restakers to delegate their entire stake to an operator who has opted in to run available validator services like EigenDA. This functionality opens up new possibilities for users looking to maximize their staking rewards and participate in the Ethereum ecosystem in a more efficient manner.
The concept of restaking has been gaining traction in the crypto community, as it enables users to stake the same ETH on both Ethereum and other protocols. Platforms like EigenLayer leverage Ethereum’s validators and staked tokens to provide security and trust to smaller and newer blockchains, ultimately enhancing the overall ecosystem.
EigenLayer faces a delicate balance between neutrality and decentralization, ensuring that no single staking provider dominates the platform. Additionally, EigenDA offers hyper scalability, cost flexibility, and ease of integration for rollups, positioning itself as the ultimate solution for data availability on Ethereum.
As rollups onboard to the EigenDA mainnet and new operators and delegations come online, the platform expects high operator turnover in the top 200 active set in the coming weeks. While in-protocol payments and slashing mechanisms are not yet included, they are slated to be added later in 2023.
With a total value locked of $13.3 billion, EigenLayer has seen a remarkable 1,100% increase since the beginning of the year, according to DeFiLlama. This growth underscores the platform’s growing importance in the Ethereum staking ecosystem.
Speaking of Ethereum staking, the ecosystem remains robust, with approximately 27% of the total circulating supply currently staked. This amounts to 32.2 million ETH, valued at around $112 billion at current prices. With over a million validators, Ethereum stands out as one of the most secure blockchains in the crypto space.
Lido continues to dominate the liquid staking provider landscape, with 29% of the total amount staked, equivalent to $33.2 billion worth of ETH. As the Ethereum staking landscape continues to evolve, platforms like EigenLayer are poised to play a crucial role in shaping the future of decentralized finance.
