EigenLayer, Crypto’s Biggest Project Launch This Year, Is Still Missing Crucial Functionality
The “restaking” protocol with $15 billion in deposits won’t pay rewards to depositors and is missing its mission-critical “slashing” feature.
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EigenLayer
The “restaking” protocol with $15 billion in deposits won’t pay rewards to depositors and is missing its mission-critical “slashing” feature.
Chain signatures allow users to transact on any network from one account.
The pioneering restaking project EigenLayer, led by Sreeram Kannan, isn’t even live but investors are piling in. A16z Crypto is affiliated with the venture capital firm Andreessen Horowitz.
Liquid restaking protocols are seeing ample demand from users as speculation mounts over potential applications for the Ethereum restaking juggernaut EigenLayer, and the prospects for rewards paid out to early users.
EigenLayer has become the fifth largest protocol in decentralized finance (DeFi) following more than $4 billion in inflows over the past two weeks.