EigenLayer Updates Development Roadmap Ahead of Mainnet Launch

The leading restaking protocol on Ethereum, EigenLayer, has announced the final preparations before launching its mainnet.

In a blog post on the evening of March 14, EigenLayer outlined its focus on ensuring security and stable operations in the coming weeks. To achieve this, the leading restaking protocol on Ethereum will undertake several steps in the near future.

Specific Preparatory Steps Include:

1. Deploying the final testnet on Ethereum's Holesky testnet.
2. Halting support for deposits, withdrawals, and applications to transition to the mainnet.
3. Gradually allowing operators to register.
4. Deploying EigenDA, EigenLayer's data availability solution.
5. Completing the mainnet deployment.
6. Expanding the AVS ecosystem.

However, the project has not disclosed specific timelines for these processes.

EigenLayer, as the leading restaking protocol on Ethereum, allows the use of liquid staking tokens of ETH to provide security for other protocols. With this innovative model, EigenLayer has garnered significant attention from the Ethereum community, surpassing $12 billion in total value locked (TVL) within just four months, making it the second-largest DeFi project by TVL in the world.

TVL Growth of EigenLayer. Source: DefiLlama (March 14, 2024)

One reason EigenLayer has attracted such substantial funds is the accumulation of reward points for staking tokens, fueling speculation about a potential airdrop.

The rise of EigenLayer and restaking has also paved the way for several other projects in the liquid restaking sector, including ether.fi, Renzo, Puffer Finance, Kelp DAO, and more.

In February, EigenLayer raised $100 million from a16z, ranking among the largest fundraising events in the cryptocurrency industry so far in 2024.