EigenLayer, a “restaking” service for Ethereum that has already racked up $12 billion in consumer deposits, introduced at this time that it’s formally launching to the blockchain’s mainnet.
Eigen Labs, the event agency behind EigenLayer, introduced the launch on Tuesday on EigenLayer’s X account.
EigenLayer’s pitch is that it lets upstart blockchain protocols borrow Ethereum’s safety. The platform permits customers to take ETH they’ve staked with Ethereum, and to “restake” it with a a lot bigger pool of ETH from different customers.
That restaked ETH is used to safe different networks, referred to as actively validated providers (AVSs), which might be something from blockchain bridges to exchanges or oracles.
EigenLayer’s preliminary launch, which comes alongside the launch of EigenDA, Eigen Labs’ in-house information availability service, could have a restricted function set in the meanwhile.