So the way I see it, EigenLayer creates a raw market for decentralized trust. More specifically, that market is like a massive pool of validator capital currently being used to secure the Ethereum network.
EigenLayer allows current ETH validators to opt-in and use their staked assets to secure other networks (I foresee this being used for highly modular networks like app-specific rollups that could greatly benefit from not having to recruit their own validator sets + find firms to participate in them)
All that sounds dandy and great; let builders focus on improving UX and PMF over spending resources and capital ensuring there is enough staked capital in their PoS system to secure their network. The Ethereum validators, in return, get to juice up their yields by securing one, two, maybe three other networks other than Ethereum.
Nowww… doesn’t that sound a lot like uncontrolled leverage on Ethereum-staked capital? I think we know what happens on the other end of leveraged, yield-chasing greed.
PS: I still am greatly intrigued by this topic but thought this conversation was one worth having