EigenLayer’s General Price Locked (TVL) has escalated to almost $6 billion.
This surge marks a 170% build up from $2.15 billion since Feb. 5, in response to DeFiLlama information. This expansion, amounting to a couple 2.3 million ether, represents about 2% of ether’s overall circulating provide.
The spike in TVL catapults EigenLayer into the highest 5 defi protocols through TVL, positioning it forward of Uniswap and trailing most effective at the back of giants like Lido, Maker, Aave, and JustLend.
The numerous upward push follows EigenLayer’s resolution to briefly raise deposit caps, which have been in the past set at 200,000 ether ($500 million) for every liquid staking token.
EIGENLAYER TVL SOARS, SURPASSES UNISWAP
Restaking protocol EigenLayer’s TVL has greater through 171% previously 7 days to US$5.66 billion, surpassing Uniswap to turn into the 5th greatest protocol with regards to TVL.
EigenLayer deposits shall be open till 4:00 UTC+8 on February tenth.… %.twitter.com/wPW40M6bwZ
— Crypto The city Corridor (@Crypto_TownHall) February 9, 2024
This transfer is a part of a broader solution to in the end do away with those caps fully, fostering a “permissionless, impartial atmosphere whilst selling decentralization,” as EigenLayer targets to toughen natural call for and incentivize participation with the possibility of praise issues and possible Eigen token airdrop rewards.
.@eigenlayer has now surpassed Uniswap to take the quantity 5 spot with a TVL of $5.74b.
The query now isn’t ”will it surpass $10b?” however ”when will it surpass $10b & take the quantity 2 spot?”.
Going to be one hell of an airdrop frens. %.twitter.com/HysnkMKxya
— ZeroToTom (@zerototom) February 9, 2024
EigenLayer, a protocol facilitating the deposit and re-stake of ether by the use of liquid staking tokens, helps the safety of third-party networks whilst providing customers the danger to earn further rewards.
Since its preliminary section in June 2023, EigenLayer has expanded its liquid staking token choices, with contributions from primary staking initiatives and a $50 million Collection A investment spherical led through Blockchain Capital in March 2023.
