EigenLayer will be the 4th largest reprocessing protocol with nearly $7 billion TVL.
Ethereum repo protocol EigenLayer has become the fourth largest protocol by total value locked (TVL), surpassing crypto lending protocol JustLend.
EigenLayer's TVL rose 5.73% to $6.99 billion on Feb. 15. Reprotocol's TVL is up 47.95% over the past seven days and 307% over the past month, according to data from Defillama.
EigenLayer's TVL protocol is now up and running on February 5th, after temporarily removing the cap it put in place to encourage organic growth, according to an official announcement. During this restocking window, EigenLayer's TVL jumped over 181% to $6.05 billion from just $2.15 billion on February 10.
Reinventing protocols like EigenLayer will allow validators and stakeholders to recapture liquid assets like Lido Staked ETH and RocketPool's rETH to protect and validate other networks. These assets can be deployed in other Decentralized Finance (DeFI) protocols for additional yield.
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While liquid staking is the largest protocol category with $42.69 billion in TVL, protocols are ranked sixth with a combined TVL of $6.99 billion, according to Defillama.
According to Brianna Montgomery, head of strategy at EigenLayer, one in four Ethereum validators have submitted their withdrawal credentials to EigenPod in the 30 days leading up to February 9.
In the year Dec 28, 2023 EigenLayer began raising interest in its stock protocols in January after surpassing $1 billion in TVL. In the year As of February 15, there are a total of 108,574 depositors on the protocol, according to data from Dune. EigenLayer currently holds a total of over 1.52 million Ether tokens.
EigenLayer plans to soon launch a core network for operators, allowing investors to operate a stock node. The protocol is preparing to launch EigenDA, a decentralized data delivery service built on top of Ethereum, according to a February 9 announcement by XX.
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