Eigen Labs, the developer behind EigenLayer, has rolled out an update to the restaking protocol aimed at simplifying native ETH restaking and increasing its rewards.
Key changes in the update
The update is designed to improve the performance of EigenPods, EigenLayer’s restaking smart contracts for ETH staked on Ethereum’s Beacon Chain. Users can now complete a checkpoint to restake their beacon chain ETH rewards on top of their existing EigenPod balance. Beacon chain rewards are automatically restaked back into EigenLayer, enabling users to earn additional rewards.
Support for new services and protocols
EigenLayer supports a growing constellation of actively validated services (AVS), protocols secured using EigenLayer’s restaked ETH. The largest EigenLayer AVSs include EigenDA, Lagrange State Committees, and ARPA network. EigenDA, EigenLayer's data availability protocol, was the first and largest AVS, secured by 3.5 million restaked ETH contributed by over 123,000 restakers.
Industry comments
Mike Silagadze, CEO of Ether.fi, noted that restaking will eventually become mainstream, but yields are currently speculative, and risks are uncertain. He commented, 'The only way this makes sense long term is if restaking networks get customers, and those customers, directly or indirectly, pay money for the services that these other restaking networks provide. But on the flip side, I think it's inevitable.'
The EigenLayer update will enhance protocol efficiency, providing more opportunities for users in terms of rewards and supporting various assets and new protocols.
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