TL;DR
- TVL watch: $14.7B
- EIGEN stake-drop is here
- Introducing the Eigen Foundation
- Automata’s Multi-Prover AVS on mainnet
- AltLayer <> Polyhedra’s zkBridge
- Ankr Raas integrates Hyperlane
- AVS Spotlight: Automata
- EIGEN Token Announcement Livestream
- EigenLayer Hackathon: Encode announces partners
- Infinite Layers: AltLayer
Ecosystem News
TVL watch
After announcing EIGEN and reaching a new ATH yesterday ($16.3B), today EigenLayer reached a total value locked of $14.7B, according to DefiLlama.
EIGEN stake-drop is here
Yesterday, EigenLayer announced its native token, distributed by the Eigen Foundation. This token differs from usual one-token governance token models.
Token Allocation
With a total supply of 1.67B, the foundation has allocated 45% of tokens to the community, composed of 15% towards stakedrops, 15% to community initiatives and 15% towards ecosystem development. Stakedrops will be distributed across many seasons, beginning with a 5% drop of the token supply to active users (snapshot March 15th).
Claiming begins on May 10th with a 120 day claiming window. The token will not be transferable initially to foster consensus around its utility. You can check your eligibility on claims.eigenfoundation.org
Introducing intersubjective forking
The token model allows for a crypto-economic security system that enables a disputing mechanism of intersubjective challenges. These types of challenges arise from events that any observers can identify offchain and social consensus can be agreed upon, but that can be difficult to objectively identify onchain.
EigenLayer proposes a two token model where EIGEN is the tradable, “fork unaware” token and bEIGEN is the staking token which is “fork aware”. If a challenge is raised, bEIGEN can be forked into the agreed-upon state without affecting EIGEN.
This model builds a path for EigenLayer to withstand a complex attack, making it more resistant to corruption within the node operator set.
What can you do right now?
- Check eligibility claims.eigenfoundation.org and claim the EIGEN drop May 10th.
- Once available you can delegate and begin securing EigenDA through EIGEN.
- Familiarize yourself with the EIGEN design. More useful links in the “Learn EigenLayer” Section.
Blog post | EIGEN Whitepaper | Clarifications on Season 1 Phase 2 | Airdrop FAQ
Introducing the Eigen Foundation
EigenLayer has introduced the Eigen Foundation, an independent, shareholder-less entity dedicated to accelerating the growth of the EigenLayer ecosystem. The foundation will be in charge of distributing the EIGEN token and supporting the ecosystem through research, grant programs, and providing third-party evaluations.
Automata’s Multi-Prover AVS on mainnet
Last Friday, Automata announced its launch on EigenLayer mainnet, with Linea and Scroll as launch partners. Automata’s AVS already has 22,700+ stakers and is secured by 28 Operators including 01 Node, AltLayer, EigenYields, among others.
Read more | Register your interest to become an Operator for Automata
AltLayer <> Polyhedra’s zkBridge
AltLayer announced its integration with Polyhedra’s zkBridge features, facilitating trustless interoperability for AltLayer’s rollups across more than 30 L1 and L2s like Ethereum, Arbitrum, BNB Chain, among other networks.
AltLayer’s rollups will benefit from Polyhedra’s security model, which integrates ZK proofs. “Devs deploying via [AltLayer’s] RaaS will enjoy greater security, interoperability and a smooth on-chain experience with minimal gas consumption. They will benefit from fast message passing and secure asset bridging.”
This announcement follows AltLayer’s partnership announcement with Nebra, bringing ZK proof aggregation to rollups.
Ankr Raas integrates Hyperlane
Ankr’s Rollup as a Service (RaaS) now integrates with Hyperlane. Hyperlane is the first permissionless interoperability framework that facilitates seamless connections between blockchains. Its features include bridging, modular security, and multi-VM support, and seamlessly integrates with Ankr RaaS, bringing more capabilities to Ankr and its builders.
AVS Spotlight: Automata
Automata Network is a modular attestation layer that extends machine trust to Ethereum with TEE Coprocessors. Its coprocessors extend the functionality of Ethereum with secure computation in isolated enclaves known as Trusted Execution Environments (TEE). TEEs generate attestations that provide publicly verifiable evidence on hardware authenticity, software integrity and prover identity.
Automata’s Multi-Prover AVS enables other decentralized systems such as rollups or L2s to bootstrap the TEE Prover as a secondary proving mechanism. A Multi-Prover system hardens security and minimizes the system’s susceptibility to bugs, with robustness reinforced by TEE Committees. It currently is secured by 28 operators, 22,770+ stakers and has over 876,000 ETH TVL.
Learn how the Multi-Prover AVS works
Community News
EIGEN Token Livestream
After the EIGEN announcement, Sreeram Kannan and Robert Drost, director of the Eigen Foundation, joined forces with Bankless for an exclusive Live Announcement event. During the livestream they provided an overview of the EIGEN stakedrop, the token design, its key features and answered community questions.
If you missed it live: Click here to watch
EigenLayer Hackathon: Encode announces partners
The EigenLayer Hackathon hosted by Encode is just around the corner! This week Encode announced its partners: EigenLayer, LayerN, Othenthic, Near, Automata, and Ethos. The hackathon is a great opportunity to explore blockchain technologies and connect with industry experts.
The event starts on May 13th, and there are still some spots available!
For more details and to register click here.
Infinite Layers: AltLayer - Accelerate Ethereum with Restaked Rollups
Infinite Layers, a new series focused on exploring projects built on EigenLayer, kicks off on Friday! Join the EigenLayer Team to learn more about the ecosystem through technical interviews. The series’ first episode will feature AltLayer, the restaked rollup.
Date: May 3 at 9:00 AM PT
For more details and to register click here.
Learn about EigenLayer
Key resources, docs and guides on: EigenLayer Hub
{Stuff To Check Out}
$EIGEN
@ViktorBunin on EIGEN design and intersubjective forking
@Jon Charbonau on the EIGEN token
@Ian_Unsworth breaks down the announcement
AVS and LRTs
AVS code walkthrough by Matt Murray
Not all LRTs are the same chart by Etherfi
About Gasp testnet
Espresso isn’t a shared sequencer
Miscellaneous
Etherfi announces the Liquid Market-Neutral USD vault
See you next week
EigenLayer News is a space to learn and stay informed about announcements and upcoming initiatives within EigenLayer. Our aim is to provide a window into what we believe is the ultimate coordination layer in crypto.
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About us, @ocandocrypto and @eugenia , we’re core contributors to web3citizen.xyz.
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