EigenLayer and EigenDA Launch on Ethereum Mainnet

EigenLayer, a "restaking" service for Ethereum that has already racked up $12 billion in user deposits, announced today that it is officially launching to the blockchain's mainnet.

Eigen Labs, the development firm behind EigenLayer, announced the launch on Tuesday on EigenLayer's X account.

EigenLayer's pitch is that it lets upstart blockchain protocols borrow Ethereum's security. The platform allows users to take $ETH they've staked with Ethereum, and to "restake" it with a much larger pool of $ETH from other users.

That restaked $ETH is used to secure other networks, called actively validated services (AVSs), which can be anything from blockchain bridges to exchanges or oracles.

EigenLayer's initial launch, which comes alongside the launch of EigenDA, Eigen Labs' in-house data availability service, will have a restricted feature set for the time being.