New York, Saturday, August 31, 2024 – EigenLayer has announced the mainnet launch of its permissionless token support, allowing any ERC-20 token to be used as a restakable asset on its protocol.
This update broadens the scope of EigenLayer’s restaking feature, enabling participants in the proof-of-stake ecosystem to reuse staked assets across additional PoS networks for increased rewards.
The announcement, made by the Eigen Labs team on August 26 via X, highlights that any ERC-20 asset can now be utilized for cryptoeconomic security. Supported categories include native AVS tokens, stablecoins, and BTC-denominated tokens.
EigenLayer, initially supporting Ethereum (ETH) and its native EIGEN token for restaking, now holds over $12.76 billion in total value locked (TVL), according to DeFiLlama. In comparison, its competitor Symbiotic has a TVL of $1.73 billion.
The protocol has also introduced EigenDA Custom Quorums, a feature that enhances security for rollup users by allowing teams to restake their ERC-20 tokens to secure custom quorums for their rollups. This initiative will begin with rollups collaborating with the EigenDA team, with the process eventually becoming permissionless.
EigenLayer said it anticipated that stakers would leverage this new feature to delegate supported tokens to operators who help secure EigenDA, providing an additional yield for token holders.
