The highly anticipated restaking protocol has pulled in $200M after adding support for six new Ethereum liquid staking tokens.
EigenLayer, an upcoming protocol enabling Ethereum stakers to validate third-party services for additional yield, has raised its global deposit cap to 500,000 ETH after running at full capacity for the past few months.
Users can now restake six additional liquid staking tokens – osETH from Stakewise, swETH by Swell Network, OETH from OriginProtocol, EthX issued by Stader Labs, Binance’s WBETH and AnkrETH.
Just over 88,000 ETH worth nearly $200M has been restaked across the newly supported LSTs since the caps were increased roughly 14 hours ago. swETH and ETHx account for the bulk of new deposits.
EigenLayer has seen substantial interest from DeFi users since launching in June, with previous deposit limits being reached within minutes of being raised.
While the concept of leveraging Ethereum’s security mechanism to secure other applications is interesting in and of itself, the protocol is also top of mind for airdrop hunters looking for a windfall when EigenLayer launches a native token. It’s currently running a points program that rewards users based on the amount and duration of their restaked assets.
Source: https://thedefiant.io/eigenlayer-raises-deposit-cap-to-500-000-eth