Coin overview
EIGEN
Ended--
Last price (USDT)
171.76K
24h total (USDT)
739.77K
Total vol (USDT)
2024-04-30 09:00:00 ~ 2024-10-01 03:30:00
Trading time (UTC+0)
2024-10-01 09:00:00
Delivery time (UTC+0)
Total supply1.68B
Resources
Introduction
EigenLayer is a protocol built on Ethereum that introduces re-staking, allowing users who have staked $ETH to join the EigenLayer smart contract to re-stake their $ETH and extend cryptoeconomic security to other applications on the network. As a platform, EigenLayer, on the one hand, raises assets from LSD asset holders, and on the other hand, uses the raised LSD assets as collateral to provide middleware, side chains, and rollups with AVS (Active verification service) needs. The convenient and low-cost AVS service itself provides demand matching services between LSD providers and AVS demanders, and a specialized pledge service provider is responsible for specific pledge security services. EIGEN total supply: 1.67 billion tokens
Aave deposits reach $33.4B in new milestone
Net deposits on Aave (CRYPTO:AAVE), a leading decentralised finance (DeFi) platform, have reached $33.4 billion in 2024, surpassing levels seen during the 2021 bull market. This marks an all-time high for the protocol as DeFi continues its resurgence. In 2024, Aave expanded its presence by integrating with BNB Chain, Scroll, ZKsync Era, and Ether.fi. The platform is also considering adding new markets in 2025, pending community approval, including Sonic, Mantle (CRYPTO:MNT), Linea, BOB, Spider Chain, and Aptos (CRYPTO:APT). The DeFi sector has seen significant growth this year, with total value locked increasing by 150% to approximately $130 billion, according to DefiLlama. This resurgence was largely driven by expectations of pro-crypto policies following Donald Trump’s electoral victory in November. DeFi tokens rallied by up to 30% immediately after the election results, as investors anticipated comprehensive legislation enabling revenue sharing through token fee mechanisms. Charlie Sherry, a cryptocurrency analyst at BTC Markets, explained that DeFi projects had previously avoided such mechanisms due to concerns about potential litigation from regulatory bodies. Contributing to the sector’s growth were advancements like liquid restaking protocols, including EigenLayer (CRYPTO:EIGEN), and the development of Bitcoin DeFi products such as wrappers and layer-2 networks. Security in the DeFi sector also improved, with hacks decreasing by 40% compared to 2023, according to blockchain security firm Hacken. This was attributed to stronger cryptographic measures, protocol updates, and enhanced bridge designs. However, monetary losses from centralised exchange breaches nearly doubled, exceeding $694 million during the same period. At the time of reporting, the Aave price was $322.62.
Will 2025 become the year of Bitcoin DeFi?
Bitcoin-native decentralized finance (DeFi) will be among the hottest themes in 2025 as institutional Bitcoin ( BTC ) adoption accelerates and its DeFi ecosystem matures, several industry executives told Cointelegraph. The growth potential for BTC staking is especially strong, with a total addressable market in the hundreds of billions of dollars, two of the executives said. As of Dec. 30, Bitcoin staking commands roughly $5.5 billion in TVL, according to Staking Rewards. “Everything aligns for Bitcoin staking being a significant market,” Matt Hougan, Bitwise’s head of research, told Cointelegraph. “There’s a lot of demand for Bitcoin yield,” Hougan added. “Even if you’re getting a 3% yield, it’s attractive compared to other options.” Hougan estimates Bitcoin staking represents a $200 billion market opportunity. More generally, Bitcoin DeFi’s total value locked (TVL) could increase by approximately 300x, Alexei Zamyatin, co-founder and CEO of Build on Bitcoin, told Cointelegraph. “We have spoken with dozens and dozens of large Bitcoin DeFi users and funds keen to put their Bitcoin holdings to work earning yield,” Zamyatin said. Source: DefiLlama Related: Bitcoin yield opportunities are booming — Here’s what to watch for Institutional adoption In 2024, Bitcoin surpassed $100,000 per coin for the first time as investors poured more than $100 billion into spot BTC exchange-traded funds (ETFs). “Bitcoin’s all-time high will spark renewed interest in crypto from institutions and regulators alike and should reinvigorate the entire crypto sector in 2025,” Dean Tribble, CEO of layer-1 network Agoric, told Cointelegraph. Some protocols are particularly well-positioned to benefit. Babylon, a Bitcoin layer-2 (L2) scaling network, and EigenLayer, a restaking protocol on Ethereum taking Wrapped Bitcoin ( WBTC ) as collateral, are seen as legitimate by institutions, Hougan said. “The tech seems reasonable, even from a high-level perspective,” Hougan noted. As of Dec. 30, Babylon’s and Eigenlayer’s TVLs exceed $5 billion and $15 billion, respectively, according to data from DefiLlama. Staking Bitcoin involves locking BTC as collateral to secure Bitcoin L2s in exchange for rewards. Restaking involves taking a token that has already been staked and using it to secure other protocols simultaneously. Additionally, staked BTC ETFs could catalyze institutional interest in 2025, Hougan said. In November, asset manager Valour launched a Bitcoin-staking ETF in Europe. It stakes to Core, a Bitcoin L2, and pays upward of 5.65% APR as of Dec. 30, according to Valour’s website. Staking is not yet permitted for Bitcoin ETFs in the United States. “Whether [staked BTC] makes it into an ETF structure in the United States, I’m not sure, but in Europe, definitely,” Hougan said. Source: Valour Maturing DeFi ecosystem Liquid staking tokens (LSTs) representing claims on staked BTC are proliferating, enabling more complex DeFi use cases. As of Dec. 30, Bitcoin LSTs command upward of $2.5 billion in total TVL, according to Staking Rewards. Some Bitcoin L2s — including RSK, Merlin and Stacks — already host Bitcoin-native DeFi ecosystems, including decentralized exchanges, lending protocols and all-in-one platforms such as Sovryn. Merlin even touts a Bitcoin-native derivatives protocol, Surf. Soon, “novel DeFi strategies will emerge across the risk curve with Bitcoin as a collateral asset, from simple buy-and-hold strategies with yield-bearing Bitcoin assets to basis trades and options strategies,” Jacob Phillips, Bitcoin staking protocol Lombard’s co-founder and head of strategy, told Cointelegraph. Phillips foresees Bitcoin’s maturing DeFi ecosystem eventually helping cement its status as the world’s reserve currency. “The Bitcoin staking rate will become the ‘risk-free rate,’ flipping the US Treasury bill rate and becoming a benchmark for DeFi lending and borrowing,” Phillips said. Related: Hyperliquid net outflows top $250M amid fears over North Korea hackers
Best Crypto to Buy Right Now December 31 – Worldcoin, Lido DAO, EigenLayer
A crypto analyst has identified a pattern that could lead to significant gains in the altcoin market. If this pattern holds, altcoins’ total market cap could reach $1.85 trillion soon. A potential catalyst for this growth is the anticipated launch of altcoin-focused exchange-traded funds (ETFs) next year. Introducing altcoin ETFs could attract more investors, increase demand, and potentially drive up prices. Currently, the weekly chart for the altcoin market shows a Relative Strength Index (RSI) of 60.95. Given this backdrop, InsideBitcoins has highlighted several altcoins as potential investment options. These projects were chosen based on their performance and market conditions. This article analyzes the best crypto to buy right now . Best Crypto to Buy Right Now EigenLayer’s market activity reveals its token trading at $3.63, marking a daily increase of 1.65%. Meanwhile, Lido DAO has rolled out the Lido Ethereum SDK, a TypeScript-based library. Additionally, the BEST project is gaining traction, having raised over $6 million during its ongoing presale phase. 1. EigenLayer (EIGEN) The EIGEN token, designed for the EigenLayer platform, supports decentralized digital tasks by addressing faults that require agreement among multiple observers. Unlike traditional tokens tied to specific tasks or on-chain verification, EIGEN secures tasks with issues identifiable off-chain through intersubjective consensus. This broad applicability makes it a versatile tool for managing diverse services on the EigenLayer network. Moreover, EigenLayer’s current market performance shows the token trading at $3.63, reflecting a 1.65% daily gain. Its market cap is $765.58 million, with trading volume surging by 73.97% to $225.45 million over the last 24 hours. The volume-to-market cap ratio is 0.5744, indicating healthy liquidity relative to its market size. EIGEN’s price trends are near a cycle high, trading 3.40% below its peak and 10.27% above the recent low. The platform has a 30-day volatility rate of 14%, signaling moderate price fluctuations. Analysts predict a significant price increase, projecting EIGEN to reach $11.88 by January 2025, a 224.95% gain from current levels. Sentiment around EIGEN remains mixed, with a bearish outlook paired with a “Greed” reading on the Fear Greed Index. This suggests cautious optimism as investors weigh potential gains against risks. As a key component of EigenLayer, EIGEN aims to improve security and reliability across decentralized networks by fostering shared accountability. Its innovative approach positions it to address complex challenges in the evolving digital ecosystem. 2. Worldcoin (WLD) Worldcoin is currently priced at $2.10, with a 24-hour trading volume of $516.40 million. The token’s market cap stands at $1.70 billion, representing a market dominance of 0.05%. Over the past 24 hours, the price has dipped by 1.45%. The 24-hour volume-to-market-cap ratio is 0.3044, indicating significant trading activity relative to its size. The Relative Strength Index (RSI), a measure of market momentum, is at 58.18, suggesting that Worldcoin is in a neutral phase. Its 30-day volatility is 20%, indicating relatively stable price movements compared to more volatile assets. Worldcoin’s goal is to create a large-scale identity and financial network to reach a global audience of over a billion people. WLD operates as an ERC-20 token on Ethereum, but user grants are distributed on the Optimism network, where most transactions are expected to occur. According to Coincodex, Worldcoin’s price may rise by 232.53% to $6.93 by January 30, 2025. Predictions like these are based on current trends and assumptions but are subject to market changes. 3. Best Wallet Token (BEST) Best Wallet introduces a new cryptocurrency, Best Wallet token (BEST), as part of its Web3 wallet platform. This wallet aims to streamline the crypto experience by integrating various features into a single app. Unlike traditional wallets like MetaMask or Phantom, Best Wallet operates as a non-custodial wallet, meaning users retain control of their funds and private keys. The platform supports over 60 blockchains, including Ethereum, Bitcoin, and Solana. It offers features such as a crypto debit card for easy spending, decentralized exchanges for trading, and aggregators for staking and token presales. These tools allow users to explore investment opportunities and earn rewards without navigating multiple platforms. Meanwhile, one notable feature is the ‘Upcoming Tokens’ presale aggregator. This tool identifies promising blockchain projects in their early stages, enabling users to buy tokens before they become widely available. Best Wallet also focuses on security by integrating fraud protection measures to safeguard user assets. Investor interest in the project is growing, with over $6 million raised during its presale phase. The current price of BEST is $0.023425. The wallet aims to simplify crypto management while providing advanced tools for both new and experienced users. Visit Best Wallet Token Presale 4. Bitcoin Cash (BCH) Bitcoin Cash (BCH) is currently trading at $449.02, showing a decline of 0.56%. Over the past 24 hours, it recorded a trading volume of $339.65 million, marking a 17.55% increase. This cryptocurrency demonstrates strong market activity, reflecting high liquidity relative to its market capitalization. Furthermore, BCH is trading above its 200-day simple moving average, a metric often used to identify long-term trends. The 14-day Relative Strength Index (RSI) stands at 27.86, which signals an oversold condition. In the past 30 days, BCH has shown positive price movement on 17 occasions, representing more than half the period. This frequency of “green days” could indicate intermittent bullish interest. For investors or observers, these factors present a mixed picture. The oversold RSI and the potential for a rebound align with some positive market dynamics, like high liquidity and sustained trading above a key average. 5. Lido DAO (LDO) Lido DAO has introduced the Lido Ethereum SDK, a TypeScript library designed to simplify adding Lido’s staking features to off-chain applications like wallets and widgets. This toolkit aims to streamline integration with the Lido on Ethereum protocol by offering tools, pre-built methods, and detailed documentation. The current price of Lido DAO Token (LDO) is $1.86, reflecting a 2.90% rise over the past week. Its market cap is $1.66 billion, a 2.91% decline. However, the 24-hour trading volume has grown 9.02% to $181.77 million, suggesting increased trading activity. The token trades 15.95% above its 200-day simple moving average (SMA) of $1.60, indicating long-term upward momentum. It has shown 17 positive trading days out of the last 30, or 57%, signaling consistent performance. The Fear Greed Index, currently at 64 (Greed), reflects moderate market optimism. LDO’s 14-day Relative Strength Index (RSI) stands at 39.82, suggesting neutral conditions with potential sideways movement. Meanwhile, the token boasts high liquidity for its market cap and trades on platforms like Binance. Its yearly inflation rate is 0.24%, indicating minimal supply changes. Price predictions suggest LDO could reach $5.98 by January 2025, a potential 224.80% increase. Read More Best Crypto to Buy Now
OpenZK Debuts $1bn Layer 2 Network with Dual Gas Innovation
OpenZK, an Australian Layer 2 blockchain project, launched today with an estimated valuation between $1bn and $2bn. The platform aims to address Ethereum 's scalability challenges ahead of the network's Prague upgrade. The project leverages Zero-Knowledge Rollup technology to process Ethereum transactions. Its architecture incorporates native ETH staking and restaking capabilities, offering users multiple revenue streams. Dave Sandor, OpenZK's founder and former Goldman Sachs Asia-Pacific Executive Director, leads the venture. The technical team is headed by Lucas Cullen, an early Ethereum developer and Consensus Hackathon winner. OpenZK's key innovation is its Dual Gas Fee Mechanism. Users can pay transaction fees with either Ethereum or the platform's native token. This feature distinguishes OpenZK from most of the existing Layer 2 solutions. The platform integrates several DeFi components. Users can access ETH staking rewards, restaking incentives, and additional tokens through partnerships with protocols like Rocketpool and EigenLayer. Zero-Knowledge Proofs secure these operations. Market analysts project significant growth potential. OpenZK's current valuation sits well below established competitors like IMX and ThorChain, which command market caps exceeding $4bn. Forecasts suggest OpenZK could reach a $2bn to $5bn valuation. The launch coincides with growing demand for Ethereum scaling solutions. The upcoming Prague upgrade is expected to accelerate Layer 2 adoption, potentially benefiting platforms like OpenZK that offer enhanced transaction efficiency. The platform's focus on institutional-grade infrastructure and regulatory compliance positions it for both retail and institutional adoption. However, its success will largely depend on user adoption and market conditions in the evolving Layer 2 landscape.
L1 Blockchain ChainOpera AI Completes $17 Million Seed Round
Golden Finance reported that of financing, led by Finality Capital, Road Capital, and IDG Capital, with participation from Camford VC, ABCDE Capital, Amber Group, Modular Capital, Sparkle Ventures, AimTop Venture, Wisemont Capital, LDV Partners, Acequia Capital, PrimeSet, Plug and Play, as well as angel investors David Tse (co-founder of BabylonChain), Sreeram Kannan (founder and CEO of EigenLayer), and Jeff Ren (early investor in AI and Web3).
ChainOpera AI and TensorOpera AI Bring Their Funding to $17M to Build Blockchain L1 and AI OS for AI Agents
PALO ALTO, CA – Dec 25th, 2024 – ChainOpera AI , a pioneering blockchain L1 and AI operating system enabling co-creation and co-ownership of decentralized AI agents and applications, has announced the successful completion of its new 3.5 million seed funding round that brings the funding of ChainOpera and TensorOpera to $17 million for building the ecosystem. The round was led by Finality Capital, Road Capital, and IDG Capital, with participation from notable investors such as Camford VC, ABCDE Capital, Amber Group, and Modular Capital. The companies are also backed by Sparkle Ventures, AimTop Venture, Wisemont Capital, LDV Partners, Acequia Capital, PrimeSet, Plug and Play, Silicon Valley Future Capital, and University of Southern California (USC), and prominent angel investors such as David Tse (Co-founder of BabylonChain), Sreeram Kannan (Founder and CEO of EigenLayer), and Jeff Ren (early investor in AI and Web3). “This funding is a major step toward fulfilling our vision of a decentralized AI ecosystem that prioritizes AI creation and monetization, data sovereignty and privacy, and inclusive collaboration,” said Prof. Salman Avestimehr, Co-founder and CEO of ChainOpera AI. “With this support from our investors, we are well-positioned to create a platform that not only advances AI innovation but also ensures fair value distribution for all participants.” The Blockchain AI OS for Co-creating and Co-owning Decentralized AI agents for Humanity The narrative of ChainOpera AI and the platform being built can be summarized as shown in the figure above. The Blockchain L1 and AI Protocol enable co-owning and co-creating decentralized AI agents and apps. Layer 1 would be optimized for AI Inference efficiency, scalability, and security, with AI OS integrated. The Federated AI OS™ is a novel platform for creating, deploying, and managing AI agents while enabling AI coin issuance for everyone. It seamlessly integrates Launchpad, ChainOpera AI (CoAI) SDK, AI Agent Framework, and AI Agent Template Marketplace to streamline the AI coin creation process. The Federated AI Platform, the world's first decentralized machine learning platform, enables all AI resource contributors—including data, model, and GPU providers—to participate in serving AI agents and apps while earning rewards. This platform builds on years of experience with TensoOpera.ai and FedML.ai. Flagship AI Agents and Apps, particularly AI Terminal mobile app, showcase how community-driven AI resources can drive AI content innovation and promote private data sovereignty within the protocol. The community can co-own and co-create diverse autonomous and socialized AI agents. Innovative Tokenomics for AI Agent Launchpad and Personal AI OS ChainOpera has several unique innovations in its tokenomics and revenue models, particularly in its token protocols that: Enable multi-role token value flows between AI resource providers, agent builders, token issuers, and users (i.e., allowing computing power, data, and model providers to contribute directly to online AI Agents, while other platforms rely on Web2 GPU cloud platforms including AWS Bedrock, Google Vertex AI, and Microsoft Azure AI) Give token issuers flexibility to publish various AI software and custom tokenomic models Rewarding users for contributing their private mobile data to train specialized Web3 language models and generative AI Provide agent-to-agent transaction protocols as the foundation for an AI Agent Society "Creating an inclusive AI economy for all roles demonstrates that we are a truly decentralized AI platform. Going beyond, we think differently, as a blockchain L1 AI platform" said Dr. Aiden He, Co-founder and President of ChainOpera AI. "ChainOpera actively supports diverse AI applications with unique tokenomics. We see LLM-based AI Agents as just one form of AI software, envisioning Personal AI OS with multimodal models and on-device federated learning as powerful digital companions to expand the blockchain AI community." Unique in Go-to-Market Strategy, Legal Governance Structure, Revenue Model, and Technical Moat Go-to-market strategy for network effect and AI data flywheel: The network effect is reflected in more AI agent users incentivizing developers to create more templates. AI Agent Builders provides templates for deploying and issuing AI tokens, simplifying transactions and the use of AI Agents. On the data flywheel, the AI Terminal mobile application efficiently collects private data and rewards users for their data contributions through daily input. Federated learning then trains specialized AI Agents and task-specific models, resulting in unique GenAI models that benefit the community, which in turn further incentivizes the creation of more distinctive AI agents. Legal governance structure bridging web2 and web3: The ChainOpera Foundation incorporates Web2 enterprise-level AI platforms like TensorOpera.ai and FedML.ai . By bridging Web2 and Web3 AI technologies, it delivers customized model services for Web3 and generates unique private data. Unlike other AI companies that simply purchase Web2 model services, ChainOpera can customize the underlying infrastructure for Web3, enabling innovative token economic models. Healthy revenue models: ChainOpera Ecosystem maintains a healthy revenue model, generating substantial recurring revenue from enterprise AI services, with 7,000 AI model developers onboarded and high daily model inference usage. Additionally, in the web3 space, the platform generates revenue through token issuance for community maintenance, platform fees, AI model and agent services, and upcoming AI mobile phone sales. Deep technical moat: The core team members have collectively earned over 30,000 academic citations, with papers published at top AI and blockchain conferences. Their recent research includes groundbreaking work on proof of contribution, ZKML, the Fox small language model, ScaleLLM for scalable LLM serving, TensorOpera Router for edge-cloud hybrid model serving, and numerous papers on federated and distributed training using geographically distributed data. ChainOpera Platform is backed by years of efforts in these deep technologies. Globally Distributed Team with Diverse Background ChainOpera's co-founders, Prof. Salman Avestimehr and Dr. Aiden He, bring extensive backgrounds in AI and blockchain technologies. Prof. Avestimehr serves as a Dean's Professor at the University of Southern California (USC), directs the USC-Amazon Center on Trustworthy AI, and is an IEEE Fellow in AI and decentralized computation. Dr. He contributes rich R&D experience from leading internet companies including Meta, Google, AWS, and Tencent, with expertise in machine learning and AI applications, and has been deeply involved in Web3 projects. Together, they are also co-founders of TensorOpera and FedML, a leading AI company providing GenAI model services and AI agents to enterprises and developers. The broader founding team includes members with exceptional backgrounds from prestigious institutions including UC Berkeley, Stanford, USC, MIT, Tsinghua, Google, Amazon, Tencent, Meta, and Apple. They bring extensive experience in developing and operating AI/Web3 communities for consumer applications with large user bases. ChainOpera AI now comprises more than 40 team members across San Francisco, Los Angeles, New York, Singapore, Hong Kong, Seoul, Tokyo, Dubai, London, Greece, and Germany. ChainOpera plans to release its flagship platform and mobile app featuring AI agents in the coming weeks. For more information about ChainOpera AI, visit https://ChainOpera.ai or follow X at https://X.com/chainopera_ai and read the blog version of this newsletter. This post is commissioned by ChainOpera AI and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.
A summary of the seven major DeFi staking platforms in 2025: How to maximize returns?
Original Title: "Discover The Top 7 DeFi Staking Platforms In 2025" Author: Siddhant Kejriwal Compiled by: Glendon, Techub News As the cryptocurrency industry has developed, staking has become an indispensable cornerstone, playing a crucial role in network security and investor participation. By participating in staking, individuals can not only contribute to the stable operation of blockchain networks but also unlock opportunities for passive income. Specifically, the benefits of participating in staking include: 1. Strengthening Crypto Economic Security: Essentially, staking involves locking a certain amount of cryptocurrency to support the operation of the blockchain network. This process is particularly critical for Proof of Stake (PoS) blockchains, where validators confirm transactions based on the amount of cryptocurrency they have staked. This mechanism ensures the security of the network and closely aligns the interests of participants with the healthy development of the blockchain. 2. Earning Passive Income: In addition to enhancing network security, staking also provides attractive economic incentives. By staking assets, investors can earn rewards, typically distributed in the form of additional cryptocurrency tokens. This method of income generation meets the needs of both novice and seasoned investors seeking to maximize returns without engaging in active trading. In certain projects, staking may also involve airdrop activities, providing stakers with additional asset appreciation opportunities. 3. Launching New Projects Through Restaking: A recent innovation in the staking space is "Restaking," which allows staked assets to be reused across multiple protocols. This approach enables new projects to leverage the security and capital of existing networks, effectively guiding their development. For example, platforms like EigenLayer promote restaking by allowing users to stake their ETH or liquid staking tokens, extending the economic security of cryptocurrencies to other applications on the network, thus bringing further benefits to investors. It is important to note that while restaking offers investors opportunities to enhance returns and strengthen network support, it also comes with complexities and risks that cannot be overlooked. As we approach 2025, the DeFi staking space will continue to thrive, providing investors with more options. This article will guide you through the top DeFi staking platforms worth keeping an eye on. What is DeFi Staking? DeFi staking involves locking cryptocurrency assets in smart contracts to support the operation of blockchain networks, particularly those that use the Proof of Stake (PoS) consensus mechanism. In PoS networks, validators confirm transactions and create new blocks based on the amount of cryptocurrency they have staked. Staking typically requires deploying a full node and meeting the minimum staking requirements of the network, allowing participants to validate transactions and engage in network consensus to earn rewards. Key Concepts in DeFi Staking Smart Contracts and Staking Contracts: Smart contracts are self-executing agreements coded on the blockchain that ensure the staking process is automated, transparent, and secure. When you stake tokens, you effectively become a validator (or delegator) for the network, collectively maintaining its security and stability. In return, you will earn rewards in the form of new tokens or a share of transaction fees. Staking Rewards: Staking rewards typically include newly minted tokens and a share of transaction fees, incentivizing participants to contribute to the security and operation of the network. Penalty Mechanisms: To maintain network integrity, PoS networks implement penalty mechanisms known as "Slashing," which reduce the staked funds of validators who engage in malicious activities or fail to fulfill their duties. This mechanism aims to deter misconduct. DeFi Staking vs. Centralized Staking When comparing DeFi staking to centralized staking services, several key factors stand out: Ownership: DeFi staking allows users to retain actual ownership of their assets, as they control their private keys. In contrast, centralized staking requires users to entrust their assets to third parties, relinquishing direct control. Transparency: DeFi platforms operate on open-source smart contracts, providing transparent staking processes and reward distributions. Centralized platforms may lack this transparency, making it difficult for users to verify how rewards are calculated and distributed. Security and Control: DeFi staking enables users to have better control over their assets, reducing reliance on intermediaries and lowering counterparty risk. Centralized staking involves entrusting assets to a platform, which may pose security risks if the platform is attacked. Mechanism: In DeFi staking, users delegate their stakes to a permissionless network of validators, directly participating in the network's consensus mechanism. Centralized staking platforms pool user funds and stake them using validators selected by the platform, often without disclosing the specifics of the process. Learning Curve: DeFi staking can be complex, requiring users to navigate various platforms and manage private keys, which can be challenging for beginners. Centralized platforms offer a more user-friendly, Web2-like experience, simplifying the staking process at the expense of decentralization. Conclusion Choosing between DeFi and centralized staking platforms depends on personal preferences, particularly regarding control, transparency, and ease of use. Next, this article will explore the top DeFi staking platforms expected to make an impact in 2025 and provide some insights. DeFi Staking Platforms Below is a comprehensive overview of the DeFi staking protocols we will discuss, highlighting their key features, associated tokens, and current annual percentage rates (APR) or annual yields (APY). Lido Finance Lido Finance is a DeFi protocol focused on liquid staking services. It enables users to stake their digital assets across multiple blockchain networks while maintaining liquidity, effectively addressing the limitations of traditional staking, such as asset lock-up and high entry barriers. By issuing liquid staking tokens (LSTs) like stETH for Ethereum, Lido allows users to earn staking rewards while utilizing their assets within the broader DeFi ecosystem. Key Features of Lido Finance Liquid Staking: Lido's core service allows users to stake assets without locking them up. It provides staking token derivatives (e.g., stETH) that can be freely transferred, traded, or used in other DeFi protocols. Decentralized Governance: Managed by the Lido Decentralized Autonomous Organization (DAO), Lido ensures that decisions regarding protocol parameters, node operator selection, and fee structures are made collectively by LDO token holders. Security Measures: Lido employs experienced node operators and conducts regular audits to maintain the integrity and security of the staking process, minimizing risks such as slashing penalties. DeFi Integration: Lido's liquid staking tokens are widely accepted across various DeFi platforms, allowing users to participate in lending, yield farming, and other activities while earning staking rewards. Supported Staking Tokens Lido supports staking for various cryptocurrencies across different networks, including: Ethereum (ETH): Stake ETH and receive stETH. Polygon (MATIC): Stake MATIC and receive stMATIC. Solana (SOL): Stake SOL and receive stSOL. Polkadot (DOT): Stake DOT and receive stDOT. Kusama (KSM): Stake KSM and receive stKSM. LDO Token and Its Utility Lido's native token LDO plays several key roles within the ecosystem: Governance: LDO holders participate in Lido DAO, voting on key decisions such as protocol upgrades, fee structures, and node operator selections. Incentives: LDO tokens can be used to incentivize liquidity providers and users contributing to the growth and stability of the Lido protocol. Summary Lido Finance has solidified its leading position in the DeFi space. As of December 2024, its total value locked (TVL) has approached a historical high of nearly $40 billion. Lido's dominance as a leading LST platform is increasing | Chart from DefiLlama This growth reflects users' increasing confidence in Lido's liquid staking solutions and its integration within the DeFi ecosystem. Additionally, Lido's recently launched community staking module enhances decentralization by allowing permissionless node operators to participate, further strengthening the network's security and resilience. Pendle Finance Pendle Finance is a DeFi protocol that allows users to tokenize and trade future yields of yield-bearing assets. By separating the principal and yield portions of an asset, Pendle adopts more advanced yield management strategies, including fixed income, speculation on future yield fluctuations, and unlocking liquidity from staked assets. This innovative approach brings traditional financial concepts (such as interest rate derivatives) into the DeFi space, providing users with greater control and flexibility over their investments. Key Features of Pendle Finance Yield Tokenization: Pendle allows users to wrap yield tokens into standardized yield (SY) tokens, which can then be split into principal tokens (PT) and yield tokens (YT). This separation enables independent trading of the principal and future yield portions, facilitating strategies such as locking in fixed income or speculating on yield fluctuations. Pendle Automated Market Maker (AMM): Pendle's AMM is designed specifically for time-decaying assets like YT, providing optimized pricing and minimal slippage. It supports concentrated liquidity and dynamic fee structures, enhancing capital efficiency and reducing impermanent loss for liquidity providers. vePENDLE Governance: Pendle employs a voting escrow token model, allowing users to lock PENDLE tokens to receive vePENDLE. This mechanism grants governance rights, enabling holders to participate in protocol decisions, provide direct incentives to specific liquidity pools, and earn a share of protocol revenue. Supported Staking Assets Pendle supports various yield-bearing assets across multiple blockchain networks, including: Ethereum (ETH): Pendle allows tokenization and trading of assets like stETH (Lido's liquid staking token). Stablecoins: Tokens from lending protocols like Aave or Compound (e.g., USDC and DAI) can be utilized within Pendle's ecosystem. Other Yield Tokens: Assets generated by various DeFi protocols can also be integrated into Pendle's platform. PENDLE Token and Its Utility The PENDLE token is the native utility and governance token within the Pendle ecosystem. Its main functions include: Governance: PENDLE holders can lock their tokens to receive vePENDLE, granting them voting rights to participate in governance decisions regarding proposals and votes on upgrades, fee structures, and other key parameters. Incentives: PENDLE tokens incentivize liquidity providers and users, promoting the growth and stability of the platform. Additionally, vePENDLE holders can direct incentives to specific liquidity pools, enhancing their returns. Revenue Sharing: vePENDLE holders are entitled to share in the protocol's revenue, aligning the interests of the community with the platform's success. Summary Pendle Finance is gradually becoming a significant force in the DeFi space by introducing yield tokenization and a dedicated AMM for yield trading. As of December 2024, Pendle's total value locked (TVL) has exceeded $5 billion (data from DefiLlama ). Pendle's integration with various DeFi protocols and its expansion across multiple blockchain networks, including Ethereum and Arbitrum, further solidify its position as a versatile and valuable tool for yield management in the DeFi ecosystem. EigenLayer EigenLayer is an innovative protocol built on Ethereum that introduces the concept of "restaking," allowing users to reallocate their staked Ethereum (ETH) or liquid staking tokens (LSTs) to enhance the security and functionality of other services built on the Ethereum network. By enabling the reuse of staked assets, EigenLayer promotes a shared security model and the development of application chains and Rollup technologies without the need for independent validator sets. Key Features of EigenLayer Restaking Mechanism: EigenLayer allows ETH stakers and LST holders to choose to validate new software modules, known as Active Validation Services (AVSs), by restaking their assets. This process extends Ethereum's security to a broader range of applications, including data availability layers, oracle networks, and consensus protocols. Permissionless Token Support: EigenLayer introduces permissionless token support, allowing any ERC-20 token to be added as a restakable asset. This expansion enables a variety of tokens to contribute to the security of decentralized networks, fostering cross-ecosystem collaboration while enhancing the utility of various tokens. EigenDA (Data Availability Layer): EigenLayer provides EigenDA, a low-cost data availability solution for Rollups and other Layer 2 solutions. By ensuring that data is easily accessible and secure, EigenDA improves the scalability and efficiency of Ethereum-based applications. Governance and Flexibility: EigenLayer's architecture allows AVSs to customize their security parameters, including selecting specific tokens for restaking and defining slashing conditions. This flexibility enables services to tailor security measures according to their unique needs, fostering a more resilient and adaptable ecosystem. Supported Restaking Assets EigenLayer supports various assets for restaking, including: Ethereum (ETH): Users can participate in securing other services by restaking their natively staked ETH. Liquid Staking Tokens (LSTs): Tokens like stETH and rETH can be restaked through EigenLayer, allowing holders to earn additional rewards. ERC-20 Tokens: With permissionless token support, any ERC-20 token can now be added as a restakable asset. EIGEN Token and Its Utility EigenLayer has launched the EIGEN token, a universal inter-subject working token designed to enhance the security of AVS fork protocols supported by EigenLayer. In extreme situations, such as active attacks or security vulnerabilities, the EIGEN token can protect these protocols, ensuring the integrity of the blockchain's modular stack remains intact. By combining the EIGEN token with restaked ETH, EigenLayer provides users with a higher level of economic security. Summary According to DefiLlama data, as of December 2024, EigenLayer's TVL has reached approximately $20.1 billion. As EigenLayer continues to evolve, it remains at the forefront of enhancing Ethereum's security and scalability, providing users and developers with new opportunities to engage with and build on the Ethereum network. Ether.fi Ether.fi is a decentralized, non-custodial liquid staking protocol that empowers Ethereum holders to stake their assets while retaining control over their private keys. Ether.fi issues a liquid staking token, eETH, which enables users to earn staking rewards and participate in the broader DeFi ecosystem without the limitations associated with traditional staking. This approach enhances the security, decentralization, and user autonomy of the Ethereum network. Key Features of Ether.fi Non-Custodial Staking: Unlike many staking services, Ether.fi ensures that users maintain control over their private keys throughout the staking process, significantly reducing custodial risks. Liquid Staking with eETH: When users stake ETH, they receive eETH, a liquidity token representing their staked assets. This token can be used across various DeFi platforms for lending and yield farming while accumulating staking rewards. Integration with EigenLayer: Ether.fi collaborates with EigenLayer to provide restaking capabilities, allowing users to earn additional rewards by securing multiple decentralized applications (DApps) simultaneously. Operation Solo Staker: Ether.fi allows individuals to operate their own validator nodes through the Operation Solo Staker program, promoting decentralization. ETHFI Token and Its Utility Ether.fi's native token ETHFI serves multiple functions within the platform: Governance: ETHFI holders have the right to participate in the governance of the protocol, influencing decisions related to treasury management, token utility, and ecosystem development. Revenue Sharing: A portion of the protocol's monthly revenue is used to buy back ETHFI tokens, potentially enhancing their value and benefiting token holders. Staking Incentives: Users can stake their ETHFI tokens to earn additional rewards, further incentivizing participation and alignment with the platform's growth. Summary Ether.fi has become a significant player in the DeFi space, with its TVL exceeding $9.54 billion in December 2024, making it one of the leading restaking protocols in the Ethereum ecosystem. Ethena Finance Ethena Finance is an Ethereum-based DeFi protocol that offers a crypto-native synthetic dollar known as "USDe." Unlike traditional stablecoins that rely on fiat reserves, USDe maintains its peg through delta hedging strategies and cryptocurrency collateral (primarily Ethereum), providing a censorship-resistant and scalable solution. Key Features of Ethena Finance Synthetic Dollar (USDe): USDe is a fully-backed synthetic dollar managed through delta hedging with crypto assets as collateral. This approach ensures stability without relying on traditional banking systems, offering a resilient alternative in the DeFi space. Internet Bonds (sUSDe): By staking USDe, users can earn sUSDe, a yield-bearing asset that accumulates revenue generated over time. This mechanism allows users to earn passive income while maintaining exposure to stable assets. Delta Hedging Mechanism: Ethena employs delta hedging, utilizing short positions in the derivatives market to offset price fluctuations of the collateral assets. This strategy maintains the peg of USDe to the dollar, ensuring stability even amid market volatility. Non-Custodial and Decentralized: Ethena operates without relying on traditional financial infrastructure, providing users with complete control over their assets. Supported Staking Assets Ethena primarily supports Ethereum as collateral for minting USDe. Users can deposit ETH into the protocol to generate USDe and then stake it to receive sUSDe, participating in the protocol's yield generation mechanism. ENA Token and Its Utility Ethena's native governance token ENA plays several key roles within the ecosystem: Governance: ENA holders can participate in protocol governance, influencing decisions related to system upgrades, parameter adjustments, and overall strategic direction. Staking Rewards: By staking ENA, users can earn sENA, which may accumulate additional rewards within the protocol's incentive mechanisms and provide higher reward multiples. Summary Data from DefiLlama shows that as of December 2024, Ethena Finance's TVL has exceeded $5.9 billion. Jito Jito is a liquid staking protocol running on the Solana blockchain, focusing on maximizing Extractable Value (MEV) strategies. By allowing users to stake their SOL tokens in exchange for JitoSOL—a liquid staking token—Jito enables participants to earn staking rewards boosted by MEV income. Key Features of Jito MEV-Driven Staking Rewards: Jito integrates MEV strategies to enhance staking rewards. By capturing and redistributing MEV profits, JitoSOL holders can achieve higher yields compared to traditional staking methods. Liquid Staking with JitoSOL: After staking SOL, users receive JitoSOL tokens representing their staked assets. These tokens maintain liquidity, allowing users to engage in various DeFi activities while still earning staking rewards. Non-Custodial Platform: Jito operates as a non-custodial platform, ensuring users retain control over their assets. Enhanced Network Performance: Jito helps improve network performance and reduce spam on the Solana blockchain by specifically staking with validators running optimized software. Supported Staking Assets Jito primarily supports staking for Solana's SOL tokens. Users can stake any amount of SOL and receive JitoSOL in return. JTO Token and Its Utility Jito has launched its native token JTO, which serves multiple functions within the ecosystem: Governance: JTO holders can participate in protocol governance. Staking Rewards: By staking JTO, users can earn additional rewards. Summary Jito has achieved significant growth within the Solana ecosystem. According to its website data, as of December 2024, over 14.5 million SOL tokens have been staked through Jito, with approximately 204 Solana validators participating. The platform offers an annual percentage yield (APY) exceeding 8%, reflecting its competitive advantage in the liquid staking market. A hallmark feature of Jito is its integration of MEV strategies to enhance staking rewards. Additionally, Jito's commitment to open-source development is evident through the release of Jito-Solana, the first third-party, MEV-enhanced validator client for Solana. Babylon Babylon is a groundbreaking protocol that brings Bitcoin staking into the DeFi ecosystem. By allowing Bitcoin holders to stake their assets directly, Babylon enables users to earn yields while contributing to the security of Proof of Stake blockchains. This innovative approach eliminates the need to bridge, wrap, or transfer BTC to third-party custodians, preserving Bitcoin's inherent security and decentralization. Key Features of Babylon Self-Custodial Staking: Babylon's protocol allows BTC holders to stake their assets without transferring control to external entities. Users lock their Bitcoin in a self-custodial manner, ensuring complete ownership and security throughout the staking process. Integration with PoS Chains: By staking BTC, users can participate in securing various PoS blockchains, including application chains and decentralized applications (DApps). This integration enhances the security of these networks and rewards stakers in return. Fast Unbinding: Babylon employs a Bitcoin timestamp protocol, allowing staked BTC to unbind quickly. This feature ensures that users can rapidly withdraw assets without relying on social consensus, maintaining liquidity and flexibility. Scalable Restaking: The modular design of the protocol supports scalable restaking, allowing a single BTC stake to secure multiple PoS chains simultaneously. This feature maximizes yield potential. Supported Staking Assets Babylon focuses on using Bitcoin for staking purposes. Summary Babylon has achieved significant milestones, including successfully launching its mainnet and initiating multiple staking caps. Notably, the protocol's TVL exceeded $5.7 billion in December 2024. Pros and Cons of DeFi Staking Benefits of DeFi Staking Potential for high returns through yield farming: DeFi staking often offers substantial rewards, especially when combined with yield farming strategies. Enhanced control over funds: Users retain full ownership of their funds through decentralized wallets, without relying on third-party custodians. Participation in governance: Staking governance tokens allows users to vote on protocol decisions and influence the platform's future development. Contribution to network security and operation: By staking, users help protect blockchain networks and maintain decentralized operations. Liquid staking tokens: Liquid staking tokens enable users to access staked capital while continuing to earn rewards. Flexibility in yield strategies: DeFi staking provides opportunities for various innovative strategies, such as compounding returns by restaking or using staking tokens to participate in other DeFi activities. Access to emerging ecosystems: Staking supports innovation by helping to guide new protocols and ecosystems. Risks of DeFi Staking Smart contract vulnerabilities: Malicious attacks or vulnerabilities in smart contracts can lead to the loss of staked assets. Impermanent loss in liquidity pools: Price fluctuations of tokens may reduce the value of assets in liquidity pools, affecting overall returns. Token price volatility: The volatility of cryptocurrencies can impact the value of staking rewards. Slashing penalties: In some networks, improper validator behavior may result in penalties that reduce the amount of staked funds. Protocol-specific risks: Emerging platforms may lack sufficient audits or experience, increasing the risk of operational failures. Lack of liquidity: Staked assets may be locked for a period, limiting the immediate availability of funds. Strategies to Mitigate DeFi Staking Risks Diversify staking across multiple platforms: Spread your staked assets across different protocols to reduce the impact of a single platform's failure. Research platform audits and security history: Choose platforms with a good security track record and regular third-party audits to ensure the safety of your funds. Monitor token economics and protocol changes: Keep a close eye on changes in token supply, reward mechanisms, and governance decisions that may affect your staking strategy. Optimize gas fees: Schedule transactions during periods of lower network activity to reduce transaction costs. Explore advanced strategies: Consider using protocols like Pendle Finance to lock in fixed income or speculate on future yields with tokenized assets. Use reputable wallets and hardware security devices: Store your staked assets in secure wallets to protect against potential hacks or phishing attacks. How to Start DeFi Staking: A Step-by-Step Guide DeFi staking allows you to earn rewards by supporting blockchain networks. While specific steps may vary by protocol, the following provides a general guide: Step 1: Choose a Staking Protocol Research different staking platforms and select one that aligns with your goals, such as liquid staking (like Lido Finance or Jito) or yield tokenization (like Pendle Finance). Consider factors such as supported assets, security measures, and potential returns. Step 2: Set Up a Wallet Choose a non-custodial wallet compatible with the protocol you plan to use, such as MetaMask for Ethereum-based platforms or Phantom for Solana. Ensure wallet security by backing up your seed phrase and enabling two-factor authentication. Step 3: Acquire Tokens Purchase the tokens required for staking (e.g., ETH for Lido, SOL for Jito) through a cryptocurrency exchange. Transfer the tokens to your wallet. Step 4: Connect to the Staking Protocol Visit the official website of the protocol (e.g., lido.fi , jito.network ). Follow the prompts to authorize the connection and link your wallet to the platform. Step 5: Stake Assets Select the tokens you wish to stake and determine the amount. Confirm the staking transaction, ensuring you have sufficient funds to cover transaction fees. In liquid staking protocols, you will receive a derivative token (e.g., stETH or JitoSOL) that you can use within the DeFi ecosystem. Step 6: Monitor and Manage Your Stakes Regularly track your staking rewards and portfolio performance through the dashboard or interface of the protocol. Consider utilizing yield tokenization features from protocols like Pendle to devise additional strategies. How to Maximize DeFi Staking Returns Diversify your staking portfolio: Spread your investments across multiple protocols to minimize risk and optimize returns. Reinvest rewards: Use earned rewards to increase returns through restaking or participating in yield farming opportunities. Stay informed: Keep up with updates on protocol governance, token economics, and network upgrades that may impact staking rewards or security. Optimize gas fees: Schedule transactions during periods of lower network activity to reduce transaction costs. Explore advanced strategies: Consider using protocols like Pendle Finance to lock in fixed income or speculate on future yields with tokenized assets. Utilize liquid staking tokens in DeFi: Deploy derivative tokens (e.g., stETH, JitoSOL) in lending or yield farming to accumulate additional returns on top of staking rewards. The above steps and tips will help you embark on your DeFi staking journey and fully unlock the potential for generating passive income within the DeFi ecosystem. Conclusion This article has explored some of the top platforms likely to gain attention in 2025, including Lido Finance, Pendle Finance, EigenLayer, Ether.fi, Ethena, Jito, and Babylon. Each protocol offers unique features while providing fundamental staking services, such as yield tokenization, restaking, or Bitcoin staking. Mastering and effectively utilizing these features will be key to unlocking tangible returns. As the cryptocurrency market enters a new bull cycle, the DeFi space in 2025 is poised to showcase limitless possibilities, and with ongoing innovation and widespread adoption, DeFi staking is expected to become a vital avenue for us to achieve substantial returns.
EigenLayer launches $15.4B slashing testnet protocol
EigenLayer's (CRYPTO:EIGEN) slashing testnet went live on Dec. 20, marking a significant milestone for the restaking protocol, which has around $15.4 billion in total value locked (TVL). The slashing upgrade, which is pending approval of the EigenLayer Improvement Protocol-002 (ELIP-002), aims to introduce Unique Stake Allocation for node operators and Operator Sets for Actively Validated Services (AVS). EigenLayer allows AVS projects to secure offchain services using the Ethereum (CRYPTO:ETH) layer-1 network. Restaked Ether (stETH) acts as collateral across blockchain ecosystems without needing to unstake the asset from Ethereum. Unique Stake Allocation enables restaking operators to minimise slashing risks by assigning parts of their staked funds to specific AVS. This “Unique Stake” can be slashed for errors, service failures, or dishonesty related to that AVS but not for unrelated tasks. Operator Sets allow AVS to organise operators into groups, allocate tasks, and set slashing parameters. Slashing penalties promote trust in blockchain ecosystems by penalising validators or operators for misconduct, ensuring onchain integrity. EigenLayer's AVS community is expanding, with RedStone becoming the first major oracle provider to launch an AVS on the protocol. Infura, a RPC node provider, also plans to join EigenLayer as part of its Decentralised Infrastructure Network (DIN), a decentralised marketplace for Web3 APIs. In addition, EigenLayer is upgrading restaking rewards in January 2025, allowing AVS to distribute rewards based on performance. The focus is on onboarding more AVS and consumer crypto applications, completing the protocol's four-part market, which includes node operators, AVS, asset restakers, and consumer applications. At the time of reporting, the Eigenlayer (EIGEN) price was $3.79.
A whale/institution redeemed about 1.27 million EIGEN from the EigenLayer staking contract since 7pm last night and sold it on the chain
blockchain analyst Yu Jin monitored that in October, whales/institutions purchased 8.917 million EIGEN at an average price of $3.64 for a total of $32.45 million USD through 21 addresses. Since last night, they have started to redeem and sell EIGEN on the chain. Since 7 pm last night, four addresses have redeemed 1,270,507 EIGEN ($5.02 million) from the EigenLayer staking contract and are currently selling them on the chain for ETH or USDC. A few days ago, when EIGEN reached a high of $5.6, their 8.917 million EIGEN had a floating profit of $17.65 million, but now it has fallen back to the cost line.
A certain whale/institution redeemed approximately 1.27 million EIGEN from the EigenLayer pledge contract since 7 o'clock last night and sold it on-chain
According to on-chain analyst Yu Jing's monitoring, in October, whales/institutions purchased 8.917 million EIGEN through 21 addresses at an average price of $3.64 per unit, spending a total of $32.45 million USDC. Since last night, they have started to gradually redeem EIGEN and sell it on the chain. Since 7 o'clock last night, four addresses have redeemed 1,270,507 EIGEN (worth $5.02 million) from EigenLayer's staking contract and are currently selling them on the chain for ETH or USDC. A few days ago when EIGEN peaked at $5.6 per unit, their holdings of 8.917 million EIGEN had made a floating profit of $17.65 million; however now it has fallen back near the cost line.
EigenLayer: Slashing test site is now live!
EigenLayer has announced in an X post that the Slashing Test Network is now live, a proposed protocol upgrade (ELIP-002) that introduces slashing, a key tool for AVS to enforce the promise of crypto-economics.
EigenLayer restaking protocol's slashing testnet now live
Restaking protocol EigenLayer’s slashing testnet went live on Dec. 20, with a mainnet launch pending approval of EigenLayer Improvement Protocol-002 (ELIP-002). The potential slashing upgrade will introduce Unique Stake Allocation for node operators and Operator Sets for Actively Validated Services (AVS) on EigenLayer. EigenLayer’s Actively Validated Services are projects that leverage the security of the Ethereum layer-1 network to validate offchain services. More specifically, staked Ether ( stETH ) on the Ethereum L1 acts as staking collateral across blockchain ecosystems without unstaking the asset on the L1. Unique Stake Allocation lets restaking operators, which are the restaking validators on EigenLayer, minimize slashing risks by designating portions of their staked funds as a “Unique Stake” subject to slashing from only one AVS. This protects the staked capital from unrelated tasks or Actively Validated Services. Operator Sets give Actively Validated Services the option to organize operators into groups, assign tasks, and define the parameters for slashing. Slashing promotes trust in blockchain ecosystems by penalizing validators or restaking operators by taking a portion of their staked funds for errors, service failures, or dishonest behavior. These slashing penalties are intended to ensure that validators maintain onchain integrity for the networks they serve. An illustration of an Operator delegating unique stakes. Source: ELIP-002 GitHub Related: Eigen Foundation commits 1% of EIGEN supply to ETH Protocol Guild EigenLayer’s AVS community grows RedStone became the first major oracle provider to establish an AVS on EigelLayer . The data validation service launched on EigenLayer in testnet mode with plans to grow the network over time. RPC node provider Infura also announced plans to launch as an AVS on EigenLayer as part of an expansion of its Decentralized Infrastructure Network (DIN). Infura’s DIN is a decentralized marketplace for APIs for Web3 developers. In a Dec. 6 blog post, EigenLayer announced it was upgrading restaking rewards . The upgrades, launching in January 2025, give Actively Validated Services the option of distributing rewards to operators based on performance. EigenLayer is currently focused on onboarding Actively Validated Services and consumer crypto applications to the restaking protocol. EigenLayer founder Sreeram Kannan recently told Cointelegraph that consumer-facing applications were the final piece of EigenLayer's 4-part market , which included node operators, Acrively Validated Services, and asset restakers. Magazine: Ethereum restaking: Blockchain innovation or dangerous house of cards?
EigenLayer: The Slashing test network is officially online
On December 20, EigenLayer announced on the X platform that the Slashing test network has officially launched. The proposed protocol upgrade (ELIP-002) introduced slashing, which is a key tool for AVS to execute its cryptographic economic commitments.
EigenLayer: Slashing test network is now online
EigenLayer announced on the X platform that the Slashing testnet has officially launched. The protocol upgrade proposal (ELIP-002) introduces slashing, which is a key tool for AVS to fulfill its cryptographic economic commitments.
AltLayer: EIGEN token redemption site now open
according to official sources, the AltLayer's EIGEN token application website is now open. Application deadline: December 20, 2024 (3 AM GMT) - February 20, 2025 (3 AM GMT).
The Eigen Foundation has issued a grant of 1 million EIGEN tokens to AltLayer
According to the official announcement, the Eigen Foundation has issued a grant of 1 million EIGEN tokens to AltLayer. AltLayer stated that it will use the tokens directly to give back to the community, with the first batch of 500,000 EIGEN tokens starting to be distributed this week to reALT holders and stakers. The remaining 500,000 EIGEN tokens will be distributed when Eigen Layer's V2 reward mechanism goes live on its mainnet in 2025.
Swellchain Wave 1: Bridge and Hold
Bridge your assets to Swellchain and hold before 12 am UTC on December 31st to get your share of 31,250,000 SWELL. Simply check your Portfolio to see the yield for holding assets on Swellchain, and then bridge to start earning. This Wave of rewards is the first of several to come in Wavedrop 3 , and will be followed by a second Wave in which you can earn $SWELL and Ecosystem Tokens by exploring dApps on Swellchain. How to bridge The following assets can be bridged: Swell: swETH, rswETH, swBTC, SWELL, rSWELL, earnBTC, earnETH Etherfi: weETH Kelp: rsETH Renzo: ezETH, pzETH Ethena: USDe, sUSDe (Ethena assets will go live on Swellchain with the upcoming launch of Tempest Finance, expected before the end of the week). Lido: wstETH ETH All bridged assets continue earning their native points and rewards, with the exception of USDe and sUSDe which must be deposited in Tempest to continue earning Sats. Or bridge via earnETH Alternatively, you can bridge the following tokens via earnETH to automatically get the best yields from Swellchain. Simply deposit the asset and sit back and relax. The vault will unwind the assets and continually deploy the funds to the top yield-earning opportunities on Swellchain—removing the need for you to manually allocate. Pendle: PT-weETH-26DEC2024, PT-ezETH-26DEC2024, PT-rswETH-27JUN2024, PT-weETH-27JUN2024 Symbiotic: DC_swETH, DC_wstETH, DC_cbETH Eigenpie: mmETH, mswETH, mstETH Mellow Finance: amphrETH Dinero: apxETH Bridge now: app.swellnetwork.io/swellchain/launch Pre-Launch Deposit rewards Rewards stop flowing to the Pre-Launch on December 19th 2024 at 11:59pm UTC. During the Pre-Launch, the following rewards were earned by depositors: Ecosystem Points The following tokens, representing 25% of the total Ecosystem Rewards, were earned by Ecosystem Point holders during the Pre-Launch: 5,000,000 ION (~0.5%)* 7,500,000 AMBIENT (~0.75%)* 5,000,000 BUBBLY (~0.5%)* 7,500,000 JIGSAW (~0.75%)* 5,000,000 TEMPEST( ~0.5%)* 5,000,000 NEPTUNE (~0.5%)* 10,000,000 SWELL (0.1%) (to be claimed by Ecosystem Point holders with Wavedrop 2). *Where total supply is unknown it is assumed to be 1B. Pre-Launch depositors also earned token allocations from Brahma, Versatus, Ditto, Drosera, and other yet-to-be-announced protocols. These remaining token allocations will be revealed before the end of Wavedrop 3. Tokens from ecosystem dApps will be claimable at the airdrops of the respective protocols. The remaining 75% of Ecosystem Rewards will be distributed through Wavedrops in proportion with $SWELL for using the respective dApps on Swellchain. Eigenlayer Points 1M Points were promised to depositors in the first 4 weeks of the Swell L2 Pre-Launch who stayed until the L2 launch. If you're eligible, the amount of EigenLayer Tokens you receive will be derived from the amount that you deposited in the pre-launch deposit contract, and the duration of your deposit, as calculated based on a time-weighted average. The Eigenlayer Points were purchased by Swell during Eigenlayer Season 1, in which points were converted to tokens at a ratio of ~42.8 points per $EIGEN. Your EIGEN will be claimable on Swellchain via the Portfolio on the date of the Wavedrop 2 distribution, currently expected around January 10th. Mainnet rewards In addition to rewarding activity on Swellchain, Swell assets used in selected protocols on mainnet will still be rewarded with SWELL. These include: PancakeSwap: rswETH/ETH, swETH/ETH Ambient/Tempest: rswETH/ETH, rswETH/SWELL Morpho: rswETH deposit, ETH borrow Euler: rswETH deposit, ETH borrow Pendle: rswETH Dec 26, swETH Dec 26, rswETH June 26 (Swell will continue to vote with its EQB to optimize returns for Pendle LPs). Derive: rswETHC Karak: rswETH earnETH earnBTC Eigenlayer: swETH FAQ 1. How do I add Swellchain to my wallet? Swellchain is supported natively on Rabby and Zerion. For other wallets, you can add Swellchain address as a custom network using the following details: Chain Name: Swellchain Chain ID: 1923 RPC URL: https://swell-mainnet.alt.technology Block Explorer: https://explorer.swellnetwork.io Alternatively you can connect to the chain via ChainList . 3. How can I claim my Voyage airdrop on Swellchain? All unclaimed SWELL from Wavedrop 1 and the Voyage will be migrated to be claimed on Swellchain on the date of Wavedrop 2 distribution, currently expected before January 10th. Claims will temporarily close for around 48 hours before this as the migration takes place. 4. How can I claim my Wavedrop 1 on Swellchain? All unclaimed SWELL from Wavedrop 1 and the Voyage will be migrated to be claimed on Swellchain on the date of Wavedrop 2 distribution, currently expected before January 10th. Claims will temporarily close for around 48 hours before this as the migration takes place. 5. Will the loyalty multipliers continue from the previous Wavedrops? Yes, however the multipliers will not be restored in Wavedrop 3 (starting December 17th), and only from Wavedrop 4. 6. How long do I have to move assets out of the Pre-Launch? There is no time limit. Got questions? Ask the team in the Swell Discord server .
Data: $151bn TVL for network-wide DeFi deals
According to data, the total locked-in value (TVL) of DeFi agreements across the network reached $151 billion on 19 December, with: Lido had the highest TVL at $36.1bn, down 4.37% in the last 24 hours; AAVE was second at $21.3 billion, down 4.80 per cent over the past 24 hours; EigenLayer was third at $16.9 billion, down 4.39 per cent over the past 24 hours.
Repledge Platform Swell: Swellchain Officially Launched
The liquidity re-pledging platform Swell officially announced that the Optimistic Rollup Swellchain, based on the Optimism OP Stack, has officially launched. As a chain centered around re-pledged assets, it is built on the "Proof of Restake" mechanism and supported by Ethena Labs, EigenLayer and others. Users can share 31,250,000 $SWELL rewards by cross-chaining and holding assets before December 31st while exploring upcoming dApps like Euler Finance and Ambient Finance. Swellchain also builds an ecosystem around stablecoins $USDe and $sUSDe to provide liquidity rewards for DeFi users.
Swell announces that the re-staking chain Swellchain is now online
According to official sources, Swell has announced the launch of Swellchain, a re-staking chain that aims to build a scalable and decentralized rollup and protect infrastructure through re-staking. This vision will be achieved through Proof of Restake, which uses Swell's liquidity re-staking assets to protect Eigenlayer AVS and Symbiotic Networks, providing critical infrastructure and services to the network. Meanwhile, Swell has also launched two AVS: Ditto, which provides secure automation through its Keeper network, and Hyperlane, which provides interoperability for ezETH and pzETH. Prior to the launch of Swellchain, a pre-release deposit activity was initiated, accumulating over $1 billion in assets from Swell, Etherfi, Renzo, and other re-staking protocols. In addition, Swellchain is also part of Superchain, with other partners including Etherfi, Renzo, Kelp, Ethena, EigenLayer, and Symbiotic.
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