EigenLayer Set to Launch Mainnet’s Phase 2
EigenLayer, an important player in Ethereum re-staking, is preparing to launch phase 2 of its mainnet in the first half of 2024. This critical update will reshape the landscape by enabling users to delegate their staked Ethereum to EigenDA operators.
This move will ease rollups integration, allowing for efficient secondary scaling solutions. EigenLayer’s goal is to utilize staked ether and other liquid staking tokens to reinforce blockchain and data scaling services, including EigenDA.
Advancements Made by EigenLayer
The upcoming phase promises major improvements following the limited utility phase that marked EigenLayer’s debut on Ethereum mainnet. Activation of the test network has already commenced, laying the foundation for operator registration and the commencement of EigenDA verification.
EigenDA, as the first actively validated service (AVS) on EigenLayer, is expected to lower transaction fees for rollups, benefitting decentralized applications, particularly in gaming and social media, where high transaction costs have been a barrier.
The Emergence of Liquid Restaked Tokens (LRT)
Liquid Restaked Tokens (LRT) have emerged to simplify the staking process. Depositing in an LRT protocol allows users to bypass the complexities of direct staking via EigenLayer, albeit at a fee. Governance is required to select operators and manage risks, creating new governance tokens and potential airdrops.
LRT protocols, such as Ether Fi, Stader Labs, Genesis LRT, and others, signify a new era in Ethereum staking. With LRTs, users can expect to earn from Ethereum staking yield, Eigenlayer restaking rewards, and LRT protocol token emissions, potentially amounting to a 25% APY on Ethereum.
Ethereum New Staking Solution to Improve Security and Scalability – Read More
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