Tech Slashing may allow the restaking pioneer to make good on its “shared security” promise.
When Ethereum’s hottest startup of ultimate yr, EigenLayer, launched a yr prior to now to very large expectations — many neighborhood members had been quick to criticize that it was lacking a critical feature.
An announcement from the problem on Wednesday acknowledged that the attribute — slashing — is lastly set to achieve on April 17. The introduction of slashing will mark the first “feature complete” mannequin of the protocol.
EigenLayer pioneered the thought of restaking, a method for Ethereum prospects to protected further protocols previous the underside layer by recommitting their staked Ether. Slashing was imagined to be a core part of this method, providing apps an answer to punish harmful actors by seizing a portion of their capital.
The implementation of slashing will allow Actively Validated Services (AVSs) — apps constructed atop EigenLayer’s restaking system — to set personalized circumstances penalizing operators who fail to satisfy pre-established circumstances and rewarding people who do.
“This is a major step forward in the EigenLayer protocol because it allows for a free marketplace where Operators can earn rewards for their work and AVSs can launch verifiable services,” EigenLayer acknowledged in a blog post.
EigenLayer attracted larger than $15 billion to the platform inside a yr and generated enormous hype for the EIGEN token, which launched in October.
EigenLayer’s ecosystem has been growing, with “100+” AVSs in progress, primarily based on its site. Notable suppliers embody EigenDA, a data availability service operated by Eigen Labs, and ARPA Network, which focuses on trustless randomization.
While EigenLayer pioneered restaking, the dearth of slashing left room for opponents to realize market share. Symbiotic, which allows for the restaking of any asset, has been utilized by EigenLayer early adopters along with Hyperlane, an interoperability framework, and Ethena, a most popular synthetic buck protocol.
Read further: EigenLayer, Crypto’s Biggest Project Launch This Year, Is Still Missing Crucial Functionality
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