Top US crypto exchange Coinbase is listing one Ethereum (ETH) restaking protocol project for pre-launch trading. In a new announcement, Coinbase says that EigenLayer (EIGEN) is now available for trading ahead of its official launch on the platform’s International Exchange and Coinbase Advanced for users in eligible jurisdictions outside of the US, UK, and Canada. […]
The post Coinbase Lists Pre-Launch Ethereum Restaking Protocol at $12,200,000,000 Valuation appeared first on The Daily Hodl.
The Eigen Foundation is acquiring Rio Network’s intellectual rights and will open-source its liquid restaking token as a reference implementation in the EigenLayer ecosystem.
Eigen Labs, the company behind the EigenLayer protocol, has announced the acquisition of the restaking platform Rio Network. The deal will see Rio’s intellectual property code made open source.
According to an announcement on June 12, the acquisition was carried out through two separate transactions. The Eigen Foundation is acquiring Rio Network’s intellectual rights, including its liquid restaking token (LRT) technology, which will be open-sourced as a reference implementation in the EigenLayer ecosystem.
Meanwhile, Eigen Labs is the new home of Rio’s team, with a particular emphasis on developing EigenLayer. The companies did not disclose the value of the deal.
Consensys CEO Joe Lubin explains why the firm is taking legal action against the SEC, discusses Ethereum’s roadmap and the importance of Vitalik Buterin's continued involvement.
Ethereum co-founder Joe Lubin says Consensys is willing to spend millions of dollars to challenge the Securities and Exchange Commission's (SEC) enforcement campaign against the broader Ethereum ecosystem in the United States.
Speaking exclusively on the Decentralize with Cointelegraph podcast, Lubin unpacked the finer details of Consensys’ decision to take preemptive legal action against the SEC. Listen to the full podcast below.
The Ethereum co-founder believes the financial and operational costs incurred by the cryptocurrency ecosystem due to the SEC’s “regulate by enforcement” policies are hard to quantify.
Executive director Aya Miyaguchi said the foundation’s neutrality can’t depend on culture and individual judgment after researchers take multimillion-dollar roles at EigenLayer.
The Ethereum Foundation will institute a policy on conflicts of interest, executive director Aya Miyaguchi said on May 24. The announcement came in response to controversy in the crypto community over connections between the foundation and EigenLayer developers.
Two Ethereum researchers joined the ranks of paid advisers at the EigenFoundation in the week preceding Miyaguchi’s announcement. Justin Drake announced his appointment at EigenFoundation on May 19 in a lengthy X post. He said he would receive incentives from EigenFoundation worth “millions of dollars” but would reinject the money in the Ethereum ecosystem. Dankrad Feist made a similar long announcement the following day. Feist acknowledged receiving “a significant amount of tokens,” adding:
Both researchers said they were taking the posts personally and not as representatives of the Ethereum Foundation. Drake promised “to continue to lean critical of EigenLayer,” and Feist said he would “take contrarian views.” Reaction to the researchers’ moves was mixed. ZkSecurity co-founder David Wong tweeted on X about Drake:
Ethereum researcher Justin Drake said his EigenLayer role is worth “millions of dollars” and some think it could shake up incentives for those working on the blockchain.
An Ethereum Foundation researcher’s decision to take a paid adviser role for the foundation behind EigenLayer has sparked criticism on social media, with one commentator suggesting it could create “conflicted incentives.”
In a lengthy May 19 X post, Ethereum researcher Justin Drake disclosed he had taken an adviser role at EigenFoundation that “comes with a significant EIGEN token incentive” vested over three years worth “millions of dollars” and “more than the combined value of all my other assets.”
EigenLayer is a protocol that partially launched on mainnet last month and allows users to stake liquid staked Ether (ETH) tokens — which are derivative tokens for ETH staked in a protocol such as Lido — effectively allowing ETH to be staked twice.
Over the past 35 days, the total value locked in decentralized finance (defi) protocols has expanded by $11.89 billion, recovering from a low of just over $83 billion on April 13. Although it has not yet reached the $100 billion mark, the value locked in defi is approaching that milestone after hovering just below it. […]
The concept of restaking introduces a groundbreaking way for people to utilize their staked cryptocurrency across various protocols simultaneously. This not only boosts reward potential but also significantly enhances the security and scalability of blockchain networks, benefiting the entire crypto ecosystem. Introduction to restaking A common occurrence In the rapidly evolving world of blockchain technology […]
The announcement of Eigenlayer’s airdrop, featuring non-transferable tokens and aggressive geo-restrictions, has sparked outrage among users who felt the allocated amount was minimal and the documentation confusing. Despite adding over $15.7 billion in staked Ether in anticipation, participants criticized the linear distribution model favoring large restakers and the stringent geographic limits excluding users from 30 […]
Ethereum restaking protocol Eigenlayer has promised to allocate 15% of EIGEN supply to the community, but not everyone was happy about it.
Users who felt left out of the recently announced Eigenlayer airdrop have lashed out at the restaking protocol’s Monday announcement — highlighting its non-transferable token structure, aggressive geo-restrictions, and an apparently short snapshot period.
Eigenlayer — the second largest protocol with $15.67 billion in total value locked (TVL) — unveiled the specifics of its long-expected “stakedrop” in an April 29 blog post.
Despite the protocol never officially confirming an airdrop until Monday, speculators seemed to be more than fine with adding their already-staked Ether (ETH) to Eigenlayer — adding more than $15.7 billion to the protocol since its inception — hoping to receive an airdrop at some point in the future.
The Eigen Foundation's new EIGEN token will be airdropped to Ethereum stakers on May 10, granting 5% of the token's total supply.
The post EigenLayer unveils EIGEN token with an airdrop set to May 10 appeared first on Crypto Briefing.
