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EigenLayer continues to raise the ceiling for depositing LST tokens into the platform. Under this adjustment, each portfolio is allowed to restake up to 200,000 new tokens. The participation period for this activity extends from today until February 9th.
🟦 EigenLayer Restaking Reloaded! 🟦
From NOW until Feb 9th, 12 PM PT, dive back into the world of LST restaking! All pools are fully uncapped, featuring both the existing pools and welcoming new partners @fraxfinance, @liquid_col, & @0xMantle. pic.twitter.com/yDGHiJjX3m
— EigenLayer (@eigenlayer) February 5, 2024
In parallel, EigenLayer introduces three new liquid staking tokens (LST), including sfrxETH (Frax Finance), mETH (Mantle), and LsETH (Liquid Collective).
Restaking is a prevailing trend, with the concept of reusing staked ETH for applications on other platforms such as Data Availability (through the EigenDA product branch) and network validation for new establishments (via AVS). Despite its straightforward mechanism, restaking proves to be significantly capital-efficient, making DeFi more accessible to users.
Another restaking project built on EigenLayer and backed by Binance Labs, attracting considerable attention, is Puffer Finance. Despite its recent launch on February 2nd, Puffer Finance quickly rose to the fourth position in terms of TVL.
Alongside the surge in restaking, some developers caution that EigenLayer’s “security sharing” model may lead to network congestion or overload, especially with the upcoming Dencun upgrade on Ethereum.
Related: Ethereum Completes Dencun Upgrade on Sepolia Testnet
TVL EigenLayer
After expanding the restaking limits for two hours, over 1 million Ethereum (ETH) has flowed into the platform, elevating EigenLayer’s accumulated TVL to 3 billion USD. As of now, EigenLayer’s TVL stands at 3.2 billion USD, marking a 1 billion USD increase within the past 24 hours.
Source: Defillama
