Interest in the Ethereum-based protocol EigenLayer is rising, as evidenced by the increase in the cap for deVamp up to 10,000 ETH. Described as a marketplace akin to 'TaskRabbit for Ethereum security', where protocols can purchase security from Ethereum validators, EigenLayer allows users to stake and restake ETH, delegate to operators, and earn rewards in 4 easy steps. By leveraging platforms like EigenLayer and EtherFi, users are able to convert staked ETH into eETH to participate in DeFi opportunities, such as those offered by Pendle Finance, which advertises yields as high as 30% APY in what can be seen as an on-chain gig economy.
Eigenlayer is a portal for Ethereum values to escape beyond the protocol
What is EigenLayer? @eigenlayer enables use of ETH to export Ethereum's security and trust in an on-chain gig economy while earning yield and rewards in 4 easy steps. 1. Stake (LSTs) 2. Restake (LRTs) 3. Delegate (Operators) 4. Earn (AVSs) https://t.co/vdcMSptRaR
Latest premium article on #EigenLayer and @EtherFi and how to $Pendle it to get 30% APY on your $ETH in one step https://t.co/4bCJCnr15R
My "explain like I'm five" description of @eigenlayer: EigenLayer is essentially a marketplace where protocols can "buy" security from Ethereum validators. It's like TaskRabbit for Ethereum security - protocols request a certain amount of pooled security for a price and⦠https://t.co/u5czJFDxs9
Seems like people can't get enough deVamp, so caps are going up again, now up to 10k ETH π§ββοΈπ If you have restaked stETH or cbETH on @eigenlayer you can now instantly turn it into eETH and earn great yields in DeFi. Why settle for 3% when you can get 30% on @pendle_fi ?β¦ https://t.co/WoMUracEy9