# EigenLayer

**Published by:** [xetalabs](https://paragraph.com/@xetalabs/)
**Published on:** 2023-04-07
**URL:** https://paragraph.com/@xetalabs/eigenlayer

## Content

EigenLayer Potential Airdrop https://www.blog.eigenlayer.xyz/stage-1-testnet-announcement/ This could be a huge one.Launched on testnet phase 1 today100% FreeConsensys mentioned about it. So don't take it lightly.$50 million raised last month, March 2023A total of $64 Million fund raised so farWhat is EigenLayer? https://twitter.com/eigenlayer is a protocol built on Ethereum that introduces restaking. EigenLayer allows users to “restake” tokens that are locked up to validate Ethereum so those tokens can be reused to help secure other protocols. EigenLabs has raised $50 million in a Series A round led by Blockchain Capital. EigenLabs last raised funds in August 2022 with a $14.5 million seed round led by Polychain Capital and Ethereal Ventures. Source: https://coindesk.com/business/2023/03/28/staking-protocol-eigenlayer-raises-50m-amid-crypto-winter Token launch & potential airdrop: As of now, there is no plan of launching a token and airdrop. But in the recent interview with Eigenlayer’s CEO on a bankless podcast, Sreeram Kannan talked about how Eigen runs on internal governance devnet and the onboarding of first protocols. So, there is very likely that this project might have its token, eventually. EigenLayer Testnet:​​ Today (7th April 2023) EigenLayer announced the release of the testnet for the first stage of the EigenLayer protocol. The launch of EigenLayer will be phased in three stages. The current launch of the Stage 1 testnet is built on the Ethereum Goerli network. So here is how can test EigenLayer on it's Stage 1 testnet:Select and get ETH faucet on Ethereum GoerliConvert Goerli ETH to rETH and stETHRestake on EigenLayer⚡ Select and get ETH faucet on Ethereum Goerli:Select Goerli chain on your EVM walletGet ETH faucet:Alchemy: https://goerlifaucet.com Mine: https://goerli-faucet.pk910.de Skip if you already have. ⚡ Convert Goerli ETH to rETH and stETH: To convert Goerli ETH to rETH:Go to: https://testnet.rocketpool.netAnd stake ETH to get rETHTo convert Goerli ETH to stETH: Send any amount of your Goerli ETH to the stETH token contract address.Open your WalletClick SENDPaste: 0x1643E812aE58766192Cf7D2Cf9567dF2C37e9B7FOn Metamask click "I Understand"Enter any amount & confirm the transaction ⚡ Restake on EigenLayer:Go to: https://goerli.eigenlayer.xyzOpen "Rocket Pool Ether" and "Lido Staked Ether" one by one and restake your rETH and stETH.You can restake rETH on Rocket Pool Ether and stETH on Lido Staked Ether.Join Discord to give feedback in respective channel <https://discord.gg/eigenlayer>

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