EigenLayer

Purpose and Utility

EigenLayer is a protocol that aims to enhance Ethereum's security by introducing a new concept called 'restaking.' This allows ETH validators to reuse their staked ETH to secure additional network services beyond just Ethereum consensus, effectively multiplying the economic security of the Ethereum ecosystem.

Business Model

The protocol enables validators to opt into securing additional services while earning extra rewards for their expanded responsibilities. The business model is based on creating a marketplace for security, where service providers can tap into Ethereum's existing security infrastructure.

Real-World Adoption

While still in development, EigenLayer has garnered significant attention from the Ethereum community and has completed successful testnet implementations. The protocol is being built by a team of experienced blockchain developers and researchers.

Development Activity

The project maintains active development with regular updates to its codebase. The team frequently publishes technical documentation and research papers about their implementation of restaking mechanisms.

Token Distribution and Governance

The EIGEN token is planned to serve as a governance token for the protocol, allowing holders to participate in decision-making regarding protocol parameters and upgrades. Complete details about token distribution are not yet publicly available as the token hasn't launched.