EigenLayer ($EIGEN) is an Ethereum protocol introducing restaking, which lets users reuse staked ETH or liquid staking tokens (LSTs) to enhance security for additional applications and earn extra rewards.
🖥 Product:EigenLayer allows users to "re-stake" their already staked ETH, essentially leveraging the security guarantees of Ethereum to support new blockchain projects. This creates a decentralized security layer for other protocols that need reliable staking without setting up their own validator network. By enabling "re-staking," EigenLayer extends the utility of staked ETH beyond the core Ethereum network, potentially supporting innovations in DeFi, cross-chain bridges, oracles, and more.
👥Community:EigenLayer has been growing a passionate community, attracting Ethereum enthusiasts, developers, and ETH stakers.
The project's
Twitter has over 300k followers and the
TwitterScore is excellent - Tier1 VCs, Influencers and devs are following the project's social media. The project's
Discord has over 200k members.
The community is growing day by day, because DeFi enthusiasts get EigenLayer points for liquidity even in third-party projects.
💼 Investors and Partners:The project has over $165m of investment raised in various funding rounds. Investors in the project are such VCs as Andreessen Horowitz (a16z), Blockchain Capital, Polychain Capital (two different rounds), Coinbase Ventures, Electric Capital, Hack VC, Delphi Ventures, Ethereal Ventures, Rovot Ventures and others.
🪙 Token:Market Cap: $711m
Fully Diluted Valuation (FDV): $6.4B
The $EIGEN token was listed on the first of October 2024. It immediately appeared on all top CEXs. The market maker does an excellent job of handling the sell pressure from users selling their tokens received as a retrodrop from the project.
📈 Summary:EigenLayer is a groundbreaking project introducing decentralized security as a service (dSaaS) to the Ethereum network by enabling ETH re-staking. The protocol has garnered strong community interest, with an active presence on social media and a growing base of Ethereum enthusiasts. The $EIGEN token will play a crucial role in governance and incentives, making it central to the protocol's future development.
DYOR.
$EIGEN (EigenLayer)