EigenLayer

1. What is EigenLayer

EigenLayer is a protocol operating on Ethereum, introducing a novel concept called "restaking" as a cryptoeconomic primitive. Unlike conventional staking pools, restaking enables the reuse of assets to secure multiple Actively Validated Services (AVS) with the same initial capital. Moreover, EigenLayer is uniquely designed to allow Ethereum (ETH) already staked and engaged in Ethereum consensus to be repurposed for securing additional services.

2. Restakers

These are the individuals or entities who have staked ETH, either directly or through liquid staking derivatives. Restakers have the option to restake their ETH via Eigenlayer to provide additional security to services, earning rewards and points in exchange.

3. Node Operators

These participants play a pivotal role by choosing which AVSs to support and actively validate. In return for their service, node operators earn yields from the supported AVSs. Crucially, node operators face the risk of slashing (loss of staked ETH) due to misbehavior or failure of validation duties.

4. Actively Validated Services (AVS)

These are applications including, but not limited to, rollups, data availability layers, oracles, or other specialized services that require security guarantees via consensus. By opting into Eigenlayer, AVSs access Ethereum’s pool of staked ETH.

5. Liquid Restaking Tokens (LRTs)

While not directly a part of the Eigenlayer, LRTs streamline the process for users to participate in the Eigenlayer. They function as staking pools for restaking. By depositing ETH into LRTs (for example, ezETH [3], pufETH [1], etc.), users receive representative tokens. These tokens represent a share in a node operator network and earn Eigenlayer points, with potential additional rewards offered by the LRT providers themselves.