As a seasoned crypto investor with a knack for spotting promising opportunities, I find the latest move by EigenLayer operator P2P.org quite intriguing. Having closely followed the staking landscape, I can attest that this revenue-sharing program is indeed a game-changer, being the first of its kind from a staking validator.
The EigenLayer operator at P2P.org is attempting to attract more stakeholders through a revenue-sharing initiative, as they prepare for an increase in restaking rewards, according to their announcement on October 16th.
In September, EigenLayer announced plans to boost incentives for restakers by introducing “programmatic rewards” based on their native token, EIGEN.
In a recent announcement on October 16th, P2P stated that the new revenue strategy they’re introducing is groundbreaking as it originates from a staking validator, and coincides with other infrastructure providers readying to unveil their reward programs.
On top of being the leading platform for Ethereum’s staking process, EigenLayer fortifies multiple external protocols, referred to as Actively Validated Services (AVSs), and safeguards over $11 billion worth of re-staked collateral, as indicated by DefiLlama.
Restaking means reusing a token that was previously pledged as security with a validator to earn rewards, and employing this same token to support multiple other blockchain protocols concurrently.
On October 15th, as stated on their own website, the largest operator within EigenLayer, known as P2P, manages over $475 million in staked collateral that has been restaked.
In addition, it allows for staking various assets such as Bitcoin (BTC) and Ether (ETH). The platform manages a total of $7.5 billion in value locked (TVL), according to P2P.
In the same market, P2P is up against many other service providers, including companies like Figment, BlockDaemon, and Ankr that offer staking solutions as a service.
Its revenue-sharing program applies to restakers who delegated to P2P prior to Aug. 15, P2P said.
As a researcher, I am focusing my efforts on facilitating the onboarding of users, following the October 1st unlock of EIGEN, as shared by its founder, Sreeram Kannan, during our recent interview with CryptoMoon.
2024 saw great excitement for the EIGEN unlock event, as it put a significant focus on EigenLayer to amplify the earnings from its AVSs (Application-Specific Vertical Stacks) protocols. A portion of these earnings will be distributed to EIGEN token holders or stakers.
With EigenLayer’s system, the individuals known as ‘restakers’ will be granted a share of EIGEN tokens, which amounts to around 4% of the overall token supply, in recognition of their contributions through programmatic incentives.
Kannan mentioned that stakeholders will earn automatic incentives based on the number of AVSs (Automated Vending Stations) they manage. In turn, these AVSs will pay fees to both stakers and operators. The greater the amount paid by AVSs, the higher the value assigned.
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2024-10-16 16:03