BitGo Announces Integration With EigenLayer, Enabling ETH Restaking And EIGEN Staking For Institutions
In Brief
BitGo integrated with EigenLayer, enabling institutional clients to manage digital assets while engaging with the expanding DeFi ecosystem.
Provider of digital asset solutions, BitGo Trust Company, announced its integration with EigenLayer, an Ethereum restaking protocol, now allowing for native ETH restaking and EIGEN token staking across the self-custody cold, self-custody hot and custody wallets. With this development, institutional clients now have the option to effectively manage digital assets, at the same time engaging with the expanding decentralized finance (DeFi) ecosystem.
Users can stake EIGEN through BitGo’s secure platform, allowing them to actively engage and earn rewards. Additionally, ETH holders have the option to restake ETH into EigenLayer’s Active Validated Services (AVS) ecosystem. This allows institutions to support decentralized protocols and generate extra AVS rewards without compromising security, maximizing the potential of the staked ETH.
BitGo clients also are enabled to delegate assets to AVS operators chosen by BitGo for their expertise within the EigenLayer ecosystem. This delegation allows clients to diversify risk, evaluate operators, and optimize staking strategies, guaranteeing each decision is made with confidence and aligns with investment goals.
As of now, slashing penalties are not presently applied to ETH restaking or EIGEN staking, via this could change in the future. However, slashing does apply to regular ETH staking. For ETH stakers looking to restake in EigenLayer, they must first fully unstake their ETH, which involves an unbonding period of approximately seven days. This waiting period may affect the timing of rewards and should be factored into staking strategies.
BitGo Integrates With Stacks And Adds Support For sBTC
BitGo functions as a provider of digital asset infrastructure solutions, offering a variety of services that include custody, wallets, staking, trading, financing, as well as settlement, managed through regulated cold storage.
Recently, it has integrated with the Layer 2 network Stacks, adding support for sBTC and the Stacks token standard SIP-10. This integration aims to expand BitGo’s involvement in the Stacks ecosystem and improve Bitcoin’s functionality by enabling both delegate and solo stacking options.
Disclaimer
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
