Launch App
EigenLayer is a protocol designed for the Ethereum blockchain that introduces a concept called restaking.
Staking Ethereum allows you to participate in securing the network while earning rewards for your contribution. EigenLayer offers a way to take this a step further. By opting into the protocol’s smart contracts, you can put your staked Ethereum to additional use.
Restaking ETH allows builders to share in ETH’s security base with restaked assets. While this mechanic could increase slashing risk by exposing assets to different networks with unique rules, restakers will be compensated in the form of heightened APYs.
In essence, EigenLayer allows your staked Ethereum to perform more than one function. It continues to secure the Ethereum blockchain, while also enhancing the ecosystem's capabilities. This approach maximizes the utility of your Ethereum stake, ensuring it not only contributes to network security but also aids in the development and protection of other projects within the Ethereum space, actively validated by a network of EigenLayer operators.
EigenLayer has raised $50M led by Blockchain Capital during their Series A funding round, and $100M led by a16z as part of their Series B funding.
In just seven months, EigenLayer has captured more than $8B in TVL – highlighting the Ethereum community’s massive enthusiasm around restaking.
With liquid restaking, users receive a liquid restaking token (LRT) representing their staked position in return for restaking their assets. This means they're not just sitting on locked assets; they can trade or use these tokens, keeping their assets fluid and engaged in the ecosystem. So, while the assets are locked in EigenLayer, users can use liquid restaking tokens to bolster liquidity, leveraging decentralized trust to ensure security and transparency.
This opens up new avenues for bootstrapping networks' security through staked ETH capital. It provides developers with a more secure, efficient, and dynamic environment to build and innovate validation services and more. on the Ethereum base.
In addition, restaking with EigenLayer presents an attractive route for users to earn more yield than regular staking. By participating in restaking, users can earn higher returns to compensate for the increased risks associated with slashing penalties. The tokenless protocol currently offers users EigenLayer Points while it prepares for mainnet deployment. Following this launch, restakers should begin to earn heightened yields.
EigenLayer’s supported assets include Ether (ETH), OETH, and 6 other leading liquid staking tokens (LSTs).
EigenLayer rewards users in points for restaking their Ethereum assets. Users are able to farm points by using liquid restaking protocols, such as PrimeStaked and Ether.fi.
Users can stack their ETH staking yield, EigenLayer points, and primeETH XP by swapping ETH for primeETH on Uniswap. By staying liquid in the form of primeTH you can earn rewards without locking up your assets in a way that prevents you from accessing them.
PrimeETH has $29.36M in TVL and offers an APY of 3-5%, plus additional rewards in the form of EigenLayer Points and PrimeETH XP.
PrimeStaked supports leading LSTs, including OETH, and will soon support native ETH deposits.
With Ether.fi, users stake ETH and receive eETH, a liquid restaking token.
This process is designed to be simple and efficient, making it accessible to a wide range of users, from solo stakers to institutions. Ether.fi records more than $1.37B in TVL and offers an APY of 3-5% plus restaking rewards and EigenLayer points.
Users that hold primeETH receive LST yield, EigenLayer Points, and primeETH XP. This is a simple and effective way to earn rewards for restaking your Ethereum.
Staking Yield
PrimeStaked offers a 3-5% APY on staked assets. This is your baseline reward derived from ETH staking yield, providing a steady stream of income on your primeETH. Staking your tokens not only supports the network's security and efficiency but allows you to earn additional yield on your staked assets.
EigenLayer Restaked Points
EigenLayer Restaked Points offer additional benefits for those who contribute to the protocol’s security through restaking. These points can be seen as a measure of your contribution to EigenLayer’s restaking ecosystem, translating into further rewards and incentives.
PrimeETH XP
Users accrue primeETH XP based on the amount of primeETH held per hour. This accumulated XP qualifies holders for additional incentive as the PrimeStaked ecosystem expands.
For context, users who have adopted primeETH are accruing around 4% APY on their holdings, in addition to EigenLayer Restaked Points and primeETH XP.
Diving into restaking on EigenLayer through platforms like PrimeStaked can be an exciting opportunity to amplify your staking rewards. It's a fantastic way to stack Ethereum staking yield, EigenLayer Points, and even primeETH XP, all while keeping your assets liquid.
However, it's important to remember that all investments come with risks, including the potential for slashing in the case of network security breaches. This is because your ETH is being exposed to different sets of network rules as a result of restaking.
In addition, withdrawals are not yet supported on primeETH, but the team is committed to enabling them prior to introducing any fees. You can also sell primeETH at any time via Uniswap. Before jumping in, make sure to do your homework, understand the ins and outs of liquid restaking, and consider how it fits into your overall investment strategy.
The protocol is gearing up for its mainnet launch and will likely launch a token around the same timeframe. Some speculators predict a token could launch as soon as H1 2024
You can qualify for the airdrop by earning EigenLayer Points, which you can do by directly staking a minimum of 32 ETH or by swapping to primeETH (no minimum required).
PrimeETH is a simple and effective way to liquid restake on EigenLayer. Holding primeETH entitles users to LST yield, EigenLayer Points, and primeETH XP, offering a straightforward and rewarding method for earning returns on your Ethereum restaking.
