EigenLayer's Total Value Locked (TVL) has surpassed $20.000 billion.
Ethereum's restaging protocol has become the second largest in the decentralized finance (DeFi) ecosystem, after Lido.
Data from The Block Research shows that EigenLayer achieved a new milestone on June 6, when its TVL surpassed $20.000 billion, one year after its launch.
Source: The Block Research
As shown in the chart, EigenLayer’s TVL growth has been extraordinary since the beginning of April when its mainnet went live. The protocol’s TVL has grown from $13.600 billion on April 1 to over $20.100 billion today.
EigenLayer is a resttaking protocol launched on the Ethereum blockchain in June 2023, with the aim of enabling ETH holders to maximize the yield and utility of their cryptocurrency holdings. Through this protocol, users can re-stake their ETH, in a process known as “restaking,” into supported solutions within the Ethereum ecosystem through the use of smart contracts. This is an innovative approach that unlocks accessibility to staked ETH on the Ethereum network, increasing opportunities for cryptocurrency holders and investors.
EigenLayer deposits are increasing
EigenLayer's resttaking ecosystem has seen tremendous growth in 2024, leading this protocol to represent a substantial part of the decentralized finance sector.
According to data from DeFi platform Llama, the current TVL of the DeFi ecosystem, in general terms, is $110.000 billion, so EigenLayer is accounting for 18% of this ecosystem. Meanwhile, Lido remains the leading liquid staking solution for ether and other Proof of Stake (PoS) cryptocurrencies, with a TVL of $36.000 billion, currently.
Source: DeFi Llama
The constant flow of deposits into EigenLayer has been driving the protocol's massive growth. Also, the substantial recovery that the Ethereum price Over the past year, there has been a huge surge in interest in EigenLayer, encouraging ETH stakers to contribute to the security and protection of other solutions within the Ethereum ecosystem.
Holesky Rewards System Launched
Recently, EigenLayer developers announced the launch of an MVP experience of the rewards system on the Ethereum testnet, Holesky. This is a simplified version, which will allow users to test new functionalities and opportunities in the protocol, without risking security.
On X, the protocol developers commented that the launch of the full experience will take place in the coming weeks. In the meantime, they clarified that most of the reward tokens in the MVP experience will not have a price and that it will serve to refine the protocol's reward system and ensure a successful launch on mainnet.
