Ethos Partners with Liquid Restaking Protocols to Secure Cosmos Chains
Ethos, a blockchain project being developed as a “validated service” on EigenLayer, is collaborating with various liquid restaking protocols to allocate ether stakes for the security of Cosmos chains. These protocols, including EtherFi, Puffer, Renzo, Swell, and Kelp, have committed to allocating ether under their control to Ethos via EigenLayer. This partnership showcases an early use case for the EigenLayer ecosystem’s development.
As one of the initial actively validated services on EigenLayer, Ethos will leverage re-staking and validation via EigenLayer to secure Cosmos ecosystem chains using existing ether stakes. The launch of Ethos is scheduled to coincide with the EigenLayer mainnet launch in the second quarter of this year.
“Ethos is a security coordination layer that enables Cosmos chains to easily bootstrap a validator network, leveraging the economic security of restaked ETH,” said a spokesperson from Ethos.
EigenLayer’s Security Extended to Cosmos
EigenLayer allows for the deposit and “re-staking” of ether from various liquid staking tokens. The goal is to allocate these funds to secure third-party protocols such as rollups, oracles, data availability platforms, or similar services. Ethos will be one of the beneficiaries of this restaking process.
Upon its launch, EigenLayer will repurpose ether deposits from stakers and restake them to bolster other protocols within the Eigen ecosystem. This re-staked ether can be delegated to AVS operators supporting Ethos, who then assign this stake to a chosen group of guardians within the Cosmos ecosystem to validate the Ethos Layer 1 chain known as the “Guardian chain.” Stakers in this case are LRTs providing their ether stakes and receiving rewards in native tokens of Ethos-secured chains.
With over $12 billion in ether received from stakers, EigenLayer’s stake contributions primarily come from liquid staking providers. These stakes can be reallocated to actively validated services like Ethos, enhancing the common security framework and deterring potential attacks through economic security.
Ethos Users and Applications
Projects like Sommelier, a DeFi app chain in the Cosmos ecosystem, are utilizing Ethos for security purposes. Sommelier engages in dynamic DeFi vaults and currently has nearly $70 million in total value locked. Infinity Chain, another user, is a general-purpose blockchain with an EVM execution environment developed on the Cosmos SDK.
Hot Take: Ethos Enhances Security for Cosmos Chains
Ethos’ collaboration with liquid restaking protocols through EigenLayer highlights the project’s commitment to enhancing the security of Cosmos chains. By leveraging existing ether stakes and re-staking them via EigenLayer, Ethos provides a secure validator network for Cosmos chains, bolstering their economic security.
The partnership between Ethos and liquid restaking protocols demonstrates the potential of the EigenLayer ecosystem and its ability to allocate resources for the benefit of various protocols within the blockchain industry.
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