EigenLayer to Increase Restaking Capacity for LST and Native Restaking
EigenLayer will expand restaking opportunities for users by increasing caps on Liquid Staking Tokens (LSTs). This upgrade enhances access to restaking while upholding asset safety and security.
To modify the restaking limits, a protocol parameter change must undergo approval from the Multisignature Governance system. As of today, June 30, the Operations multisig transaction to raise the caps has been queued in the 10-day timelock, ensuring adherence to governance processes and security measures.
After the 10-day timelock expires, the Operations Multisig, which is responsible for overseeing the protocol’s routine operations and procedures, needs to trigger the action from the timelock contract. This will initiate the parameter changes in the Executor Multisig and execute the modifications. As a result, after a minimum of ten days, the Operations multisig may lift the caps at any time. Closer to the exact time, we will provide updates on Twitter, this blog post, and Discord. We expect the caps to be raised sometime during the week of July 10.
At that time, the caps for LSTs, including rETH, stETH, and cbETH, will be increased to 15,000 tokens per LST with no individual deposit limit. Once the sum total of all LST deposits reaches 30,000 tokens, a global pause on LST restaking will be initiated.
This significant increase in restaking capacity empowers more users to actively participate in future restaking opportunities. Additionally, native restaking remains uncapped, allowing users to create EigenPods and link them to an unlimited number of validators.
Our commitment to network security and decentralization drives the measured increase of LST caps and the unrestricted native restaking capability. We strive to establish a resilient ecosystem for users to confidently restake their assets.
What's on the Horizon?
With the upcoming LST cap increase, let's explore what's next on the EigenLayer roadmap. Our focus remains on enhancing the restaking experience, while ensuring top-tier security and decentralization.
Q3 Operator Testnet: This phase will allow operators to familiarize themselves with EigenLayer infrastructure and prepare for seamless service of AVS validation tasks. It serves as a crucial step towards the operator mainnet launch, scheduled for the end of Q4.
Q4 AVS Testnet: EigenLabs is currently in active development of EigenDA, the first AVS scheduled for launch on the EigenLayer platform. We are also collaborating closely with a variety of rollup teams to leverage this offering. Furthermore, our team is engaged in partnerships with multiple projects to develop and introduce a wide range of actively validated services (AVSs) on EigenLayer. During the AVS testnet phase, our partners have the opportunity to refine their offerings, ensuring the highest standards of security and performance. The anticipated AVS mainnet launch is currently scheduled for Q1'24, providing users with a diverse selection of AVS options to enhance their restaking experience.
Continuous Security Measures: EigenLayer prioritizes the security of users' assets. Rigorous third-party security audits, including collaborations with ConsenSys Diligence and Sigma Prime, and participation in the Code4rena Audit Contest, reinforce our commitment to a secure ecosystem. Our bug bounty program with Immunefi encourages community involvement in identifying and resolving potential vulnerabilities.
As EigenLayer progresses on its roadmap, we continue to provide increased restaking opportunities, foster decentralization, and safeguard assets within our ecosystem. Stay updated by visiting our website, exploring the app, reviewing documentation, joining our Discord community, contributing to the forum, and following us on Twitter. Together, we shape the future of restaking.
Website: eigenlayer.xyz
App: app.eigenlayer.xyz
Documentation: docs.eigenlayer.xyz
Discord Community: discord.gg/eigenlayer
Forum: forum.eigenlayer.xyz
Twitter: twitter.com/eigenlayer