EigenLayer’s EigenDA to support layer-2 native token reset
EigenDA, EigenLayer's Data Availability Protocol, now supports Ether (ETH) and EigenLayer's native EIGEN token as a native token for layer-2 screening networks.
“Companies can now repurpose their ERC-20 tokens to secure a custom quorum for bundling, providing stronger security for bundling users and unlocking tokens for token converters,” he wrote.
EigenDA is a “data access layer” running on top of EigenLayer's ETH recovery platform to reduce costs of storing and accessing onchain data for Ethereum's layer-2 scale solutions. According to the blog post, its mission is to “make reliable, scalable and secure data availability (‘DA') abundant.”
The cost of securely storing and accessing transaction data has been a serious bottleneck for layer-2 supply chains. Ethereum's Denkun update in March attempted to solve this problem with temporary on-chain data stores called “blobs”. Other protocols such as Celestia offer competing solutions.
EigenLayer raised nearly .75 billion in TVL. Source: Defillama
Related: EigenLayer's EigenDA has been cut by 10x in data rates
Rescheduling involves taking an already 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 approximately $12.75 billion in total value locked (TVL), according to Defillama.
EigenDA is the first “Actively Authenticated Service” (AVS) launched on EigenLayer and is the largest. It is confirmed by 3.6 million re-allocated ETH and 71.5 million EIGEN contributed by more than 128,000 stakeholders, according to the EigenLayer website.
Recapturing native token on EigenDA allows Layer 2 to create custom consensus mechanisms – or “collections” – to securely store and access data. It also expands the array of tokens that can get yield by re-holding.
“As custom ERC20 tokens are added to EigenDA, they will soon be able to opt-in to support other tokens, such as ETH and EIGEN tokens.”
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