What is Eigen Layer? In simple terms

good summary buddy i need to introduce my friend to it thanks for the easy setup

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@0xAsharib WE gonna make it bigggg :stuck_out_tongue_winking_eye:

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What is the secured additional protocol that you sponsor in this forum

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Can’t wait when re-re-re-re-restake will be live! :slight_smile:

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So it, it means ETH, would be staked twice? Does it mean the UNstaking period would be twice as long?

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Where is the additional value to pay interest derived from?

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Probably not, it depends on how Eigen Layer is built.

General principal is : you stake your ETH normally, but you change your withdrawal adress to an Eigen Layer contract adress. Now, Eigen Layer holds your stake, you can’t withdraw normally. Then, you rune an Ethereum validators (like normal), but you also run another validator (for any other project). You earn ETH rewards + bonus rewards. If you want to get your ETH back, you have to withdraw from Ethereum AND EigenLayer. It won’t last twice much time as a normal withdraw

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I have one question :hugs::hugs: :upside_down_face:

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I have one question :interrobang::sweat_smile::sweat_smile:

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what I like most about the project is that way of generating trust to users, is wonderful

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Yep. they’re building amazing products just because they want to revolutionize the Ethereum space in a way like never before, and we’re part of it!

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Great high level summary @0xAsharib :clap:

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oracle is an example of a service that can be built on eigenlayer and so yeah you dont have to worry about chainlink that already has high economic security (and even more recently with around 200M at stake) because you have theoretically 25B available at stake on ethereum.

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https://forum.eigenlayer.xyz/t/what-is-eigen-layer-in-simple-terms/169?u=blkylim

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In EigenLayer’s own terms, it is “a general-purpose marketplace for decentralized trust.”

That doesn’t really explain much, does it?

In ELI5 terms, EigenLayer allows staked ETH to be rehypothecated, meaning you can stake ETH to secure Ethereum and stake it elsewhere (without unstaking). Protocols benefit from the security of the Ethereum blockchain because the staked collateral secures Ethereum and the protocol. The user benefits from double staking yield, one from Ethereum and one from the additional protocol secured.

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The Restaking Collective is a forum for the crypto community where anyone can join, create topics,

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MEV, sequencing rollup, bridges, oracles, and other solutions, as well as for the analysis of EigenLayer data availability services, called EigenDA

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this looks good
keep building​:heart::heart::heart:

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thanks for sharing . sharing is caring !

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