EigenLayer Increases Restaking Cap and Adds Three New Token Categories
The restaking project EigenLayer will continue to raise the token deposit cap for Liquid Staking Tokens (LSTs) on its platform while announcing three new supported assets.
EigenLayer has expanded its support to include three new Liquid Staking Tokens (LSTs): sfrxETH (from Frax Finance), mETH (from Mantle), and LsETH (from Liquid Collective).
Introducing the LSTs: Welcome to the EigenLayer ecosystem!
— EigenLayer (@eigenlayer) January 10, 2024
@FraxFinance Ether (sfrxETH)
@0xMantle Staked Ether (mETH)
@liquid_col Liquid Staked ETH (LsETH)
Each one brings its unique edge.
The restaking period for these tokens will run from January 29 to February 2, 2024.
Similar to previous cap increases, restaking activities will be limited to 200,000 tokens per category. If this cap is reached before the specified timeframe, restaking will be temporarily halted.
In the previous cap increase in December 2023, EigenLayer attracted a significant amount of LSTs in the form of ETH, reaching a total value locked (TVL) of $1 billion on the network.
Gradually increasing the cap and setting limits for each round allows EigenLayer to test the product and minimize potential risks associated with the locked assets.
EigenLayer is a restaking project with the ambition to reuse staked ETH for other purposes, such as Data Availability (through the EigenDA product line) and validating newly established networks (via AVS).
By continuously evolving and adding new token categories, EigenLayer aims to enhance the functionality and utility of its platform, providing more options and flexibility for its users in the staking ecosystem.
