Posted: March 14, 2024 12:56 PM Updated: March 14, 2024 12:56 PM
Correction and fact check date: March 14, 2024, 12:56 p.m.
briefly
EigenLayer plans to launch its mainnet in multiple stages over the coming weeks, first launching a final testnet on Ethereum’s Holesky testnet.
EigenLayer, a decentralized blockchain Ethereum (ETH) re-staking project, has released a roadmap detailing its mainnet launch intentions. The project’s mainnet preparations include launching a final testnet on Ethereum’s Holesky testnet, which is expected to go live soon.
According to EigenLayer, 6,000 operators tested the network on Goerli’s “Phase 2” testnet. However, due to lack of active support for Goerli from the Ethereum client team, the final EigenLayer testnet was moved to Holesky.
Eigen Labs, the core development team responsible for EigenLayer, explained that in preparation for EigenLayer’s mainnet launch, all contracts on the web application and mainnet will be suspended to facilitate controlled deployment and onboarding of operators to the network. Additionally, temporarily suspending deposits and withdrawals is a measure to ensure a smooth transition. Eigen Labs noted that operators will gradually gain the ability to register on the mainnet.
“Our primary focus is a smooth rollout that prioritizes security and performance. To achieve this, we are adopting a multi-step approach starting now and continuing over the coming weeks,” Eigen Labs said in a written statement.
EigenLayer, pioneer of Ethereum re-staking
EigenLayer’s protocol allows users to deposit and re-stake Ethereum using Liquid Staking Tokens (LST), potentially earning additional rewards while securing these funds to external networks. The first phase of the protocol will launch on the Ethereum mainnet in 2023, allowing users to deposit LST on platforms such as Lido, Rocket Pool, and Coinbase. It was later expanded to include additional liquid staking tokens, including Stakewise’s sETH, Mantle’s mETH, Frax’s sfrxETH, Ankr’s ankrETH, and Binance’s wBETH.
That same year, EigenLabs completed a $50 million Series A funding round led by Blockchain Capital, bringing the company’s total valuation to $500 million. Additionally, the protocol attracted $1.8 billion in Ethereum capital through its points-based incentive program.
Recently, venture capital firm Andreessen Horowitz invested $100 million in Eigen Labs to support the development of the project. Meanwhile, EigenLayer’s total deposited assets exceeded $10 billion earlier this month.
EigenLayer’s launch of its mainnet marks an important milestone in the project’s development journey as it continues to empower users through innovative protocols.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through her work with VCs, notable cryptocurrency projects, and science writing. You can contact us at (email protected).
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