News Report Technology
March 14, 2024

EigenLayer Unveils Mainnet Roadmap, Plans Multi-Phased Launch in Coming Weeks

In Brief

EigenLayer will launch its mainnet in several phases over the coming weeks, initiating its final testnet on Ethereum’s Holesky testnet first.

EigenLayer Unveils Mainnet Roadmap, Plans Multi-Phased Launch in Coming Weeks

Decentralized blockchain Ethereum (ETH) restaking project, EigenLayer, published a roadmap detailing its intentions to launch its mainnet. The project’s preparation for the mainnet includes initiating its final testnet on Ethereum’s Holesky testnet, which is expected to become operational shortly.

According to EigenLayer, in a “stage 2” testnet on Goerli, 6,000 operators tested the network. However, due to the lack of active support for Goerli by the Ethereum client teams, the final EigenLayer testnet was moved to Holesky.

As Eigen Labs, the core development team responsible for EigenLayer, prepares for the launch of EigenLayer’s mainnet, it has outlined that its web application and all contracts on the mainnet will be paused to facilitate a controlled deployment and onboarding of operators onto the network. Moreover, the temporary suspension of deposits and withdrawals aims to ensure a smooth transition. Eigen Labs mentioned that operators will gain the ability to register on the mainnet gradually.

“Our primary focus remains a smooth launch that prioritizes security and performance. To achieve this, we’re introducing a multi-phased approach starting now and ongoing for the next several weeks,” said Eigen Labs in a written statement.

Keep track of cryptocurrency distributions in our Airdrops Calendar.

EigenLayer Pioneers Ethereum Restaking

EigenLayer‘s protocol allows users to deposit and re-stake Ethereum using liquid staking tokens (LST), directing these funds to secure external networks while potentially earning additional rewards. The protocol’s first phase was launched on the Ethereum mainnet in 2023, enabling users to deposit LST from platforms such as Lido, Rocket Pool, and Coinbase. Later, it expanded to include additional liquid staking tokens, including sETH from Stakewise, mETH from Mantle, sfrxETH from Frax, ankrETH from Ankr, and wBETH from Binance.

In the same year, EigenLabs completed a $50 million Series A funding round led by Blockchain Capital, resulting in a total valuation of $500 million for the company. Furthermore, the protocol attracted Ethereum capital amounting to $1.8 billion through its points-based incentive program.

Recently, venture capital firm Andreessen Horowitz invested $100 million in Eigen Labs to support the project’s development. Meanwhile, EigenLayer‘s total value of deposited assets exceeded $10 billion earlier this month.

As EigenLayer launches its mainnet, it continues to empower users through its innovative protocol, marking a significant milestone in the project’s development journey.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

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.

More articles
Alisa Davidson
Alisa Davidson

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.

From Ripple to The Big Green DAO: How Cryptocurrency Projects Contribute to Charity

Let's explore initiatives harnessing the potential of digital currencies for charitable causes.

Know More

AlphaFold 3, Med-Gemini, and others: The Way AI Transforms Healthcare in 2024

AI manifests in various ways in healthcare, from uncovering new genetic correlations to empowering robotic surgical systems ...

Know More
Join Our Innovative Tech Community
Read More
Read more
Biswap Releases New Strategic Roadmap, Focuses On Multi-Chain Expansion And Introduction Of Liquid Staking
Markets News Report Technology
Biswap Releases New Strategic Roadmap, Focuses On Multi-Chain Expansion And Introduction Of Liquid Staking
May 24, 2024
Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization
Interview Business Markets Software Technology
Web3 AI Unveiled: Jimmy Zhao Unpacks How BNB Chain’s Integration of Blockchain and AI Redefines Trust, Transparency, and Decentralization
May 24, 2024
Hyperliquid Unveils HIP-1 Spot Token Deployment Function On Its Mainnet, And Recommends Testing For Smooth Deployment
News Report Technology
Hyperliquid Unveils HIP-1 Spot Token Deployment Function On Its Mainnet, And Recommends Testing For Smooth Deployment
May 24, 2024
This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (20-24.05)
Digest Top Lists Business Lifestyle Markets Software Technology
This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (20-24.05)
May 24, 2024