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The Ethereum restocking protocol, EigenLayer, is attracting the attention of investors in the cryptocurrency market. Since the beginning of the year, the project has recorded significant growth in terms of capital input.

Its total value locked (TVL) increased by 1,000%, jumping from $1,343 million in January to $14,928 million, as per DeFi Llama.

EigenLayer is currently the second largest DeFi protocol on the Ethereum network, surpassing even the historic decentralized platform Aave, which began operations in 2017. This rapid growth of EigenLayer has occurred since its founding in 2021.

EigenLayer is an Ethereum-based restocking protocol. It allows token holders to stake and at the same time participate in other decentralized finance activities. Its proposal is to attract investors who want to maximize their earnings through staking and other income opportunities.

EigenLayer supera Aave

The surge in interest in EigenLayer has been driven by several recent developments. One of them is the creation of the Eigen Foundation, an independent organization dedicated to accelerating the growth of the EigenLayer ecosystem.

Furthermore, the protocol launched the EIGEN token, a crypto asset that allows reaching consensus on data that cannot be verified directly on the network. This “intersubjective agreement” is important for the functioning of applications such as prediction markets, storage services and gaming virtual machines.

Another important factor for the growth of EigenLayer is the airdrop (or “stakedrop”) of the EIGEN token. This practice is common in the cryptocurrency industry and aims to promote projects, increase activity and user base, and expand the money supply.

The protocol has reserved 15% of the 1.670 billion EIGEN tokens issued for the airdrop. Distribution will take place over two seasons. In the first season, the project will deliver 5% of the token supply to users. Of these tokens, 90% can be unlocked once new features are active and decentralization is achieved.

Token transferability must occur on the mainnet before September 30, 2024. Eligible users include those who have staked directly with EigenLayer as well as those who have staked via Liquid Restaking Tokens (LRT) by March 15.


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