EigenLayer issues ‘major update’ to restart contracts.
EigenLabs, the developer behind EigenLayer, has deployed a “major update” to the reconfiguration protocol to “enable nativeization.” [Ether] According to a blog post on September 4th, refactoring on EigenLayer is easier and more useful.
The update is designed to improve the performance of so-called EigenPods — EigenLayer's restaking smart contracts for Ether (ETH) held on Ethereum's Beacon Chain — giving users greater flexibility to collect or reinvest stack rewards.
“EigenPod users can complete a checkpoint to reclaim their Beacon Chain ETH reward on their current EigenPod balance,” Eigen Labs said. “Beacon Chain Rewards are fed directly back to EigenLayer, allowing resetters to earn additional rewards.”
The update also seeks to improve EigenLayer's user interface, he added.
The update includes changes to the UI. Source: Eigen Labs
Related: EigenLayer's EigenDA supports layer-2 native token reset
Rescheduling involves taking a previously staked token – escrow with a validator in exchange for a reward – and using other protocols to secure it at the same time. EigenLayer currently commands about $11.5 billion in total value locked (TVL), according to Defillama.
EigenLayer supports the growing constellation of “Active Verified Services” (AVS) — protocols secured by using EigenLayer's revalidated ETH. The largest EigenLayer AVSs include EigenDA, Lagrange State Committees, and the ARPA network.
EigenDA, the EigenLayer Data Availability Protocol, was the first AVS launched on EigenLayer and also the largest. It is backed by about 3.5 million repositories of ETH contributed by more than 123,000 researchers, according to EigenLayer's website.
In August, EIGEN began supporting a native token for layer-2 scale networks in addition to ETH and EIGEN's native EIGEN token.
According to a post on the X Forums on August 26th, “Crowds can now re-hold their ERC-20 tokens to protect their wallets, provide strong security for their users, and unlock token production.
Mike Silagadze, CEO of liquidity rebalancing protocol Ether.fi, said on August 13 that rebalancing will eventually become mainstream, but yields are still speculative and risks are uncertain.
“The only way this makes sense in the long term is if the restocking networks get customers and those customers pay directly or indirectly for the services that these other restocking networks provide,” Silgaze said. “But on the flip side, I think it's inevitable.”
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