EIGEN Token Enters the Crypto Scene, Sees Early Gains and 12% Price Drop

October 1, 2024 Bitcoin.com

bitcoin.com

On Monday, eigenlayer (EIGEN) made its debut on major exchanges, hitting a peak of $4.47 per token. However, by 1:30 p.m. EDT on Oct. 1, the price had dipped 12%, settling at $3.90 per coin. By 2 p.m. it was exchanging hands for $4.30 per unit. EIGEN Token Hits Crypto Market A new contender has […]

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Coinbase Adds Highly Anticipated Yet-To-Be-Launched Ethereum Restaking Altcoin to Listing Roadmap

September 29, 2024 The Daily Hodl

Altcoins

Top US crypto exchange Coinbase has added a yet-to-be-launched Ethereum (ETH) restaking project to its roster of potential upcoming listings. In an announcement, Coinbase says that it has added EigenLayer (EIGEN) to its listing roadmap, which the exchange uses for transparency and to prevent insider trading on coins prior to them being listed. EigenLayer aims […]

The post Coinbase Adds Highly Anticipated Yet-To-Be-Launched Ethereum Restaking Altcoin to Listing Roadmap appeared first on The Daily Hodl.

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Movement Labs targets 1-second L2 finality by end of 2024: Co-founder

September 11, 2024 Coin Telegraph

Coin Telegraph

Apps will be able to settle directly on Movement’s L2 with fast finality ‘postconfirmations’ secured by stakers, the co-founder said.

Movement Labs aims to launch a new mechanism for quickly settling transactions directly on layer 2 (L2) scaling networks by the end of 2024, Rushi Manche, Movement’s co-founder, told Cointelegraph in an interview.

Fast finality ‘postconfirmations’ are an alternative to existing methods for settling Ethereum (ETH) L2 transactions — such as zero-knowledge (ZK) and fraud proofs — with the potential to cut confirmation times to less than 1 second, Movement said in a Sept. 2 blog post.

Total value locked (TVL) on L2s has more than tripled in 2024 to almost $35 billion, according to L2Beat, as Ethereum’s surging popularity strains the network’s limited bandwidth.

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86 Million Tokens Set for Distribution in Eigenlayer’s Season 2 Stakedrop

September 5, 2024 Bitcoin.com

bitcoin.com

The Eigen Foundation has launched its Season 2 stakedrop, offering EIGEN tokens to stakers, ecosystem partners, and community members who contributed to the Eigenlayer network. Token claims will open on or before September 17, 2024, with rewards based on participation in staking, contributions to the ecosystem, and early support for the project. Eigen Foundation Announces […]

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EigenLayer rolls out ‘major update’ to restaking contracts

September 4, 2024 Coin Telegraph

Coin Telegraph

The upgrade aims to enhance rewards for restakers.

Eigen Labs, the developer behind EigenLayer, deployed a “major update” to the restaking protocol aimed at “making native [Ether] restaking on EigenLayer easier and more rewarding,” according to a Sept. 4 blog post.

The upgrade is designed to improve the performance of so-called EigenPods — EigenLayer’s restaking smart contracts for Ether (ETH) staked on Ethereum’s Beacon Chain — by granting users greater flexibility in harvesting or reinvesting staking rewards.

“EigenPod users can now complete a checkpoint to restake their beacon chain ETH rewards on top of their existing EigenPod balance,” Eigen Labs said. “Beacon chain rewards are automatically restaked back into EigenLayer, enabling restakers to earn additional rewards.”

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YieldNest launches new liquid restaking token

August 21, 2024 Coin Telegraph

Coin Telegraph

Stakers with Lido, Frax, Origin and Mantle can “restake” with the DeFi protocol.

Decentralized finance (DeFi) protocol YieldNest is launching a new liquid staking derivative (LSD) called ynLSDe designed to capture restaking yield from EigenLayer, according to an Aug. 21 announcement.

The token “will allow the holders of Ether staked with Lido, FRAX, Origin Protocol, or Mantle to earn additional yield… through restaking,” YieldNest said. Lido, FRAX, Origin, and Mantle are decentralized Ethereum staking platforms, each of which issues its own LSD.

Restaking involves taking Ether (ETH) that has already been staked — posted as collateral with a validator in exchange for rewards — on the Ethereum network and using it to secure other protocols simultaneously. The premise is that in exchange for taking on additional risk, restaking can considerably enhance rewards.

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EigenLayer’s EigenDA touts 10x cut in data prices

August 19, 2024 Coin Telegraph

Coin Telegraph

The data availability protocol is also introducing a "free tier."

EigenDA, EigenLayer’s data availability protocol, has cut prices for its service by 10x and introduced a ‘free tier’, according to an Aug. 19 EigenLayer blog post.

EigenDA is a “data availability layer” operating on EigenLayer’s Ether (ETH) restaking platform designed to reduce the costs of storing and accessing onchain data for Ethereum’s layer-2 scaling chains. The price cut comes as EigenDA is pushing to onboard more layer-2s to its platform, which launched in April.

EigenDA’s mission is to make “reliable, scalable, and secure data availability (‘DA’) abundant,” according to the blog post. “In pursuit of this goal, and enabled by the scalability of its design, EigenDA strives to be the most price-performant DA solution.”

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Eigenlayer Introduces Permissionless Token Support, Expanding Crypto Economic Security Options

August 14, 2024 Bitcoin.com

AVS tokens

Eigen Labs has announced an upcoming update to the Eigenlayer protocol, introducing Permissionless Token Support. This feature aims to broaden the range of ERC20 tokens that can be utilized as restakable assets, enhancing the crypto economic security of decentralized networks. Permissionless Token Support Is Coming to Eigenlayer Eigen Labs revealed it is set to release […]

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Decentralized Finance TVL Recovers to $100B After July Lows

July 22, 2024 Bitcoin.com

Decentralized Finance TVL Recovers to 0B After July Lows

Aave

Between June 19 and July 19, within a 30-day period, the total value locked (TVL) in decentralized finance (defi) dropped below the $100 billion mark, hitting a low of $86.3 billion on July 7, 2024. Over the past three days, however, the TVL has managed to stay above the $100 billion threshold. Lido Leads Defi […]

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EigenLayer enhances EigenDA security to combat Sybil attacks

June 23, 2024 Coin Telegraph

Blockchain

With the additional security feature, EigenLayer aims to protect the service it offers while guaranteeing its availability to all clients.

EigenLayer has implemented an additional security feature for its EigenDA data availability service on the Ethereum mainnet to prevent Sybil and distributed denial of service attacks.

According to an X post from EigenDA, the whitelist security measure utilizes either an internet protocol address or Ethereum's elliptic curve digital signature algorithm (ECDSA) authentication to ensure enhanced protection and secure access to the service.

ECDSA authentication is a cryptographic method for verifying the identity of a user, device or system. It is based on the principles of public-key cryptography and uses elliptic curve cryptography to ensure secure authentication.

EigenLayer

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