EigenLayer LST Addition Contest in Partnership with JokeRace

In collaboration with JokeRace, we're excited to announce an upcoming contest, starting October 20, that will help select the next LST tokens to be listed as restaking assets on EigenLayer!

EigenLayer's Vision: Our vision for EigenLayer is audacious - we envision a future where EigenLayer thrives in an uncapped and permissionless state. But to reach this future, we need community participation and the right assets to back our goal.

For this contest, all active Ethereum LST tokens backed by more than 15,000 ETH are eligible for submission and inclusion in the voting process, and all their token holders have the right to cast votes. Any LST that receives votes exceeding 15,000 ETH will be integrated into EigenLayer in the upcoming months. The incorporation will start with the LST that attracts the most votes, representing the LST community's commitment to restake, and will continue in order based on the number of votes from highest to lowest. Additional contests will be run in the future, inviting new LSTs to participate.

Below are the LSTs we have identified as satisfying the 15,000 ETH criteria. Did we miss one? Help us list it! You can recommend additions on our Discord in the #lst-addition-jokerace channel before the contest's official start on October 20, when a snapshot will be taken for all eligible LST wallets to participate in the vote.

The initial LST candidate list:  

  1. wBETH (Binance) 
  2. sfrxETH (Frax) 
  3. SETH2 (Stakewise) (if Stakewise gets enough votes, their new LST osETH will be added when live)
  4. swETH (Swell) 
  5. AnkrETH (Ankr) 
  6. LsETH (Liquid Collective) 
  7. mevETH (mev.io) 
  8. EthX (Stader) 
  9. oETH (Origin ETH)

Pre-commitments & Ranking Logic

Tokens are not only welcomed but encouraged to pre-commit restaking volume if they’re vying for being added. The tokens will be ranked based on the ETH volume their communities commit to restake.

Counting Votes

During the submission phase, LSTs can present information and rally for votes. All addresses from the snapshot can cast their votes on the Jokerace contest. We will run an X (Twitter) poll to determine the chain that will host the contest. Please help choose where the contest will be held on this poll before October 20.  

Winner Selection

We’re optimistic about the LST landscape's evolution, aiming to facilitate restaking for every LST in the long haul. However, in the immediate future, the integration will be sequential. Post contest, LSTs that receive over 15,000 ETH in voted interest will be added to EigenLayer. The journey will commence with the leading LST and progress sequentially.

Submission & Voting Procedures

  • Snapshot Date: A snapshot will be taken on Oct 20th to identify eligible Ethereum LST wallet holders.
  • Eligibility: Wallets holding any of the listed Ethereum LSTs or EigenLayer restakers by Oct 20th are qualified to vote. Each wallet gets 1 vote for every $USD worth of tokens staked.
  • Campaigning: LST teams, over the subsequent week, will spotlight their tokens, disseminate pertinent information, drive marketing, and pronounce their restaking pledges.

Voting Insights

  • Duration: One week.
  • Focus Areas:
    • Restaking Capability
    • Total Value Locked (TVL)
    • Reputation
    • Operational Stability

Key Dates:

  • Interested in adding an LST to the allowlist with more than 15k ETH TVL? Please provide your justification on Discord by October 20th, 9 am Pacific Time.
  • Submissions (for LSTs to campaign): Oct 20-25 
  • Voting: Oct 25-Nov 1

Feedback or Queries?

Jump into the EigenLayer Discord and step into the #lst-addition-jokerace channel to converse with team EigenLabs, JokeRace, and other LST team representatives. We're all ears!

We're excited to see the submissions and the community's enthusiasm. Let's continue to shape the future of restaking together.