EigenLayer has seen its TVL grow to nearly $6 billion in the past few days. After the temporary deposit limit is lifted
Assets deposited with EigenLayer increased approximately 170% from $2.15 billion on February 5 to $5.9 billion at the time of writing, or approximately 2.3 million ether, according to the data.of DeFiLlama
The TVL value is equivalent to approximately 2% of the total circulating supply of ether. This also makes EigenLayer one of theFive leading DeFi protocols by TVL It’s ahead of Uniswap and behind only Lido, Maker, Aave and JustLend.
What is EigenLayer?
EigenLayer allows users to deposit and re-stake ether via liquid staking tokens, allocating those funds to secure third-party networks. and may receive additional rewards.
Eigenayer’s protocol launched on the Ethereum main network in June 2023, allowing users to deposit LST from three main projects: Lido, Rocket Pool and Coinbase and the protocol.expandto additional LSTs including Stakewise’s sETH, Mantle’s mETH, Frax’s sfrxETH, Ankr’s ankrETH and Binance’s wBETH.
EigenLabs — the team behind EigenLayer — closed a $50 million Series A funding round led by Blockchain Capital in March 2023.
Last month, EigenLayer announced plans to implement a shared security model — a mechanism that allows protocols to join the network by leveraging a pool of ETH stakes — with the goal of becoming a more integrated application platform. Important decentralization and help other projects launch, leveraging the shared security model.
refer : theblock.co
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