P2P.org touts revenue share as EigenLayer operators vie for restakers
EigenLayer operator P2P.org aims to woo restakers with a revenue-sharing period as competition mounts ahead of a planned boost to restaking payouts, the company said on Oct. 16.
In September, EigenLayer tipped plans to enhance rewards for restakers with incentives denominated in EIGEN, the protocol’s native token.
“The new revenue initiative is the first of its kind to be rolled out from a staking validator,” P2P.org said in the Oct. 16 statement.
Source: P2P.org
Related: EigenLayer eyes consumer adoption post EIGEN unlock, founder says
As Ethereum’s largest restaking platform, EigenLayer secures dozens of third-party protocols — dubbed actively validated services (AVSs) — with more than $11 billion of restaked collateral, according to DefiLlama.
Restaking involves taking a token that has already been staked — posted as collateral with a validator in exchange for rewards — and using it to secure other protocols simultaneously.
As the largest of EigenLayer’s professional validators, or “operators,” P2P.org is responsible for upward of $475 million worth of restaked collateral as of Oct. 15, according to the developer’s website.
It also supports staking for other assets, including Bitcoin ( BTC ) and Ether ( ETH ), and commands $7.5 billion in total value locked (TVL), the operator said.
P2P.org competes with dozens of other operators, including staking-as-a-service providers such as Figment, Blockdaemon and Ankr.
Its one-time revenue-sharing period applies to restakers who delegated to P2P.org prior to Aug. 15, the company said.
EigenLayer’s TVL. Source: DefiLlama
EigenLayer is prioritizing onboarding users following EIGEN’s Oct. 1 unlock, founder Sreeram Kannan told Cointelegraph in an interview .
The EIGEN unlock was among the most highly-anticipated in 2024 and puts pressure on EigenLayer to scale protocol revenues from AVSs, which will partly accrue to EIGEN stakers.
EigenLayer’s incentives will reward restakers with EIGEN emissions comprising approximately 4% of the token’s total supply.
“Stakers will get programmatic rewards depending on how many AVSs they serve, and AVSs will pay fees to stakers and operators. The more AVSs pay, the more value gets allocated,” Kannan said.
Magazine: Crypto whales like Humpy are gaming DAO votes — but there are solutions
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
NFTs hit $562M in monthly sales, Nike shuts down RTFKT: Nifty Newsletter
MARA Holdings Secures $850 Million Through Zero-Coupon Convertible Notes
MARA Holdings, Inc. has finalized an $850 million offering of zero-coupon convertible senior notes due 2031, aimed primarily at acquiring bitcoin and repurchasing existing notes.
Ethereum Foundation Launches 2025 Internship Program for Aspiring Developers
The Ethereum Foundation announces its first formal summer internship program for 2025, offering opportunities in research and development for aspiring Ethereum developers and researchers.
Ethereum's Progress and Innovations Spotlighted at Devcon SEA 2024
Devcon SEA 2024 in Bangkok highlighted Ethereum's advancements, focusing on real-world applications, scaling, and second-generation cryptography, while fostering community collaboration.