TL;DR
- EigenDA, EigenLayer’s data availability protocol, will now support ERC-20 token restaking for layer-2 networks.
- Restaking will allow the use of previously staked tokens to secure other protocols, enhancing security and efficiency for rollups on the platform.
- EigenDA aims to reduce the costs of storing and accessing on-chain data for layer-2 scaling solutions.
EigenLayer has announced that EigenDA, designed for data availability, will now support restaking of native tokens from layer-2 networks, in addition to Ether (ETH) and the platform’s native token, EIGEN. This update, set to begin implementation this week, will enable users to earn yields through the restaking of layer-2 tokens, expanding the available options for generating profits on the platform.
Restaking is a process that allows previously staked tokens to be used to secure other protocols, increasing security and generating additional yields. With EigenDA’s integration, development teams will be able to use their staked ERC-20 tokens to create custom quorums in their rollups, which will enhance security and improve operational efficiency for users of these rollups.
Introducing EigenDA Custom Quorums
What
Teams can now restake their ERC-20 token to secure a custom quorum for their rollup, unlocking stronger security for rollup users and token yield for token holders.
Why
A quorum is an operator set defined by a distinct distribution of… pic.twitter.com/HX5HA3ktoD
— EigenDA (@eigen_da) August 26, 2024
EigenDA acts as a data availability layer on EigenLayer’s ETH restaking platform. Its goal is to reduce the costs associated with storing and accessing on-chain data for layer-2 scaling solutions in Ethereum.
EigenDA: An Alternative to Ethereum’s ‘Blobs’
This issue has been a limitation for layer-2 scaling chains, and while Ethereum’s Dencun upgrade in March introduced temporary off-chain data stores called “blobs,” EigenDA and other protocols like Celestia seek to offer alternative and effective solutions.
With nearly $12.75 billion in total value locked (TVL), EigenLayer has become a fundamental component for users engaged in restaking. EigenDA, the first “actively validated service” (AVS) launched on EigenLayer, is the largest of its kind and is secured by approximately 3.6 million restaked ETH and 71.5 million EIGEN contributed by over 128,000 stakers.
The update will allow layer-2 networks to create custom consensus mechanisms for secure data storage and access, as well as expand the range of tokens that can earn yields through restaking. With these changes, the protocol is expected to facilitate greater adoption and use of layer-2 networks.
