Β @EigenLayer mainnet soon.
Β Heard rumor that βπππ π¬πππ€ππ π¨π§ ππ’π ππ§πππ²ππ« ππ«π π§π¨π π«πππ₯π₯π² π¬πππ€ππ π¨π§ ππ’π ππ§πππ²ππ«β.
Β Is that true? Spoiler: Itβs kinda true, but kinda false.
Β
πΒ @EigenLayer mainnet soon.
π€―Β Heard rumor that βETH staked on EigenLayer are not really staked on EigenLayerβ.
π€¨Β Is that true? Spoiler: Itβs kinda true, but kinda false.
β¬οΈΒ π§΅
βπΏΒ Two types of restaking on EigenLayer
Liquid restaking with LSD is, no doubt, staking on EigenLayer cuz you go to their frontend to restake into their smart contract.
What about Native Restaking?
https://docs.eigenlayer.xyz/eigenlayer/restaking-guides/restaking-user-guide/
Native Restaking is with native ETH and your validator with 32 ETH in the Ethereum consensus layer.
It is more complicated than pressing the buttons on EigenLayer frontend.
You need toβ¦
You need to:
create your EigenPod contract
grant some power to AVS over this EigenPod
set your withdrawal address from the CL to this EigenPod
And
slashing only happens when you exit your validator from CL
πΒ This makes it feel like:
Your restaked is not really in EigenLayer like restaked LSD, because itβs on EigenPod (actually still with EigenLayer)
Calculating those TVL is kinda hard, because you need to calculate TVL on EigenPod with CL withdraw address, then minus the βslashedβ TVL
π«‘Β Check @jordanmmckβs thread on understanding EigenLayer if you are still confused.
One of the best explainer.
So, I have my validator with 32 ETH in the ethereum consensus layer.
To restake I need to have my withdrawal address set to a *contract*, and that contract is an eigenpod deployed via some address I control.
β¨Β Also, check out this dashboard for data by @ratednetwork on TVL of Native Restaking.
Always fun to see those rare data point!
https://explorer.rated.network/restaking?network=mainnet&timeWindow=7d
π§΅Β For more on EigenLayer, check out their post of threads.
Prepare yourself with this ELI5* pack:
EigenLayer Research Must Read:
- You Could've Invented EigenLayer: blog.eigenlayer.xyz/ycie/
- The EigenLayer Universe: Ideas for Building the Next 15 Unicorns:
You Could've Invented EigenLayer
In this blog post, we will take you through the evolution of the protocol, by covering how EigenLayer's architecture emerged from the initial concept.
π€Β I really wanna write up some spicy stuff on EigenLayer & Restaking on its security or future slashing events.
But Iβm reaching the tweet word limit, so will do it in the future..
