Originally published on: December 06, 2024
EigenLayer, Ethereum’s leading restaking protocol, is revamping its rewards program to provide protocols and restakers with more flexibility. In a recent blog post on Dec. 6, EigenLayer announced the exciting changes that are set to transform the restaking landscape.
With these upgrades, third-party protocols using EigenLayer, also known as actively validated services (AVSs), will be able to reward validators based on their performance. This flexibility allows validators, or “operators,” to set fee rates independently, giving them more control over their rewards.
According to EigenLayer, these upgrades aim to bring greater efficiency and customization to the rewards offered within the EigenLayer ecosystem. The restaking protocol plans to launch these enhancements on the mainnet in January, providing users with an enhanced restaking experience.
Since its launch in 2023, EigenLayer has garnered the support of numerous AVSs and nearly $19 billion of restaked collateral, as reported by DefiLlama. This success highlights the growing popularity and importance of restaking in the crypto community.
Currently, EigenLayer hosts 20 AVSs on its mainnet, with many more in development. Notable AVSs include EigenDA, run by EigenLayer developer Eigen Labs, and ARPA Network, a protocol specializing in trustless randomization.
EigenLayer introduced its native token, EIGEN, on Oct. 1, offering users a secure way to stake collateral and earn rewards. EIGEN provides enhanced security for protocols and opportunities for growth in the restaking ecosystem.
As of Dec. 6, EIGEN is trading at around $4.92, with a fully diluted market capitalization of nearly $8.25 billion, according to CoinMarketCap. This demonstrates the token’s strong position in the market and the confidence investors have in EigenLayer’s offerings.
In a bid to attract more restakers, EigenLayer launched a programmatic incentives program in September, rewarding users with EIGEN emissions equivalent to approximately 4% of the token’s total supply. This initiative aims to incentivize participation and boost engagement within the EigenLayer ecosystem.
Don’t miss out on the opportunity to upgrade your restaking rewards with EigenLayer’s latest enhancements. Stay tuned for more updates and join the growing community of restakers embracing this innovative protocol.