EigenLayer, the Ethereum Restaking Protocol, Releases V1 Whitepaper

According to the official Twitter, EigenLayer, the Ethereum restaking Protocol, released V1 whitepaper, which describes the key ideas implemented by the core developers in the upcoming first version of the protocol, including the list of potential EigenLayer modules (e.g. MEV, sequencing).

In addition, EigenLayer has launched the EigenLayer Forum for 3 topics focusing on the EigenLayer protocol, EigenDA development, and middleware development. Previously, it was reported that EigenLayer was in the process of raising Series A funding to raise $50 million.

Eigenlayer is a protocol that allows validators to use their staked $ETH to validate other protocols in addition to the Ethereum simultaneously parallel. This means that you can re-use your staked $ETH that is being used to secure Ethereum to help secure other protocols such as oracles and cross-chain bridges.

Protocols running on Ethereum are already secured by Ethereum’s validators. Eigenlayer can assist in securing those protocols that are not directly built on Ethereum. Oracles are one example. By helping secure additional protocols, $ETH stakers can gain extra yield provided by those protocols in addition to the current staking yield.