Eigen Layer - what is it? Full analytics for Warpcaster.

Token is CONFIRMED!

If you haven't heard of this protocol, then you are obviously not in crypto, for it has come up incredibly often in my information field over the last month.

1/23.🧵👇

The mouthpiece of truth and the voice of freedom.

Building a clothing brand that bridges Web2 and Web3 — Ayaysee.

Writing about Retro, DeFi, NFT.

Most people take the position that depositing their $ETH there is an incredibly cool idea and mindlessly throw in huge amounts of $ETH.

Is this idea really nobrain?

I'm ready to explain it for you.

2/23.

Let's start with the fact that the project has collected for two rounds just an incredibly large amount of money being a protocol, $64.5 million in the main with Polychain and Coinbase.

4/23.

Yes, this amount is really gigantic, considering that it is not an L2 solution, it's just a protocol, nothing more.

5/23.

With a probability of 99.9% the project will collect 100+ million dollars in the next year, because the excitement around it simply forbids investors not to invest more and more of their money in it.

6/23.

As they say, the project colossally changes everything related to Ethereum staking and introduces the term "Restaking". That is, the $ETH staked in this protocol can be used to protect other blockchains, be it L1, blockchains in the Cosmos Ecosystem, Polkadot, and so on.

7/23.

In fact, the project is really changing the concept of staking. As you know, Ethereum has moved to Proof of Stake, so the more $ETH is staked, the more secure the Ethereum system itself is, so keeping stakers is fundamentally important.

8/23.

Ethereum Liquid staking protocols abound, ranging from LidoFinance to Coinbase to Rocket PooIs.

9/23.

Eigen Layer in theory is able to overwhelm all its competitors, both in terms of capitalization and fundamental importance in the whole ecosystem, because there is only 1 restaking protocol so far and it is Eigen Layer.

10/23.

It allows interoperability with all currently existing liquid-staking protocols and utilizes $ETH to get even more APR from those projects that decide to get protection from the Ethereum core network.

11/23.

It's done to avoid gaining your own set of validators, because you need to be strongly grounded in this for your project to be considered truly decentralized.

12/23.

In the future, it is very likely that all protocols that use LSD will integrate Eigen Layer, because what these guys are doing is really revolutionary.

The basics are clear, hopefully even to those who had no prior knowledge of LSD and Eigen Layer. 

How to make money on it? LFG.

13/23.

It's very simple. 

We are waiting for an Airdrop token for providing our $ETH as liquidity for the protocol. 

Stake $ETH. 

Stake $ETH. 

Stake $ETH.

14/23.

I'll tell you more about it from now on.

> The number of Eigen Layer tokens we can get depends on the amount of $ETH you have staked over time.

> Sybil attackers will be shamed. It doesn't make sense in this project.

Next.

15/23.

> The token has been confirmed by the Musalbas founder of Celestia. He gave a technical inside that the project cannot work correctly without the token.

> Whales keep a close eye on the project and as soon as there is an opportunity to throw in a pool they do so.

16/23.

We have several options how to stack $ETH in Eigen Layer: 

- We can wait for some of the pools to become free;

- We can wait for Eigen Layer to increase the space in the pools by itself;

- We can wait for integration with other projects, for example Swell.

17/23.

On August 22 at 7am Pacific Time, EigenLayer will take another step forward in its evolution. Restaking opportunities will be expanded by raising the caps on Liquid Staking Tokens (LSTs), including stETH, rETH, and cbETH.

18/23.

After the caps are lifted, users will be able to deposit any one of these tokens into EigenLayer. At the point any LST reaches a milestone of 100k tokens restaked, a global pause will be implemented.

19/23.

What to do point by point?

> We need something that we will stake on the Ethereum network.
> stETH - DEX or lido.fi/#networks
> rETH - DEX or stake.rocketpool.net/
> cbETH - Coinbase or Uniswap

— Waiting for pools - app.eigenlayer.xyz/

20/23.

The rich will get ultimatum rich after the release of this project token. This is the best idea where to put your free capital, because the potential demand for this token, given the architecture of Eigen Layer, will be incredible.

21/23.

But don't forget that any protocol can be hacked and Eigen Layer is no exception.

22/23.

Help me to push this cast guys. Eigen Layer LFG.

The end.

Eigen Layer — is it a fundamental project? Is the hype around it really so justified? Is this project a must have idea for a retrohunter or not?

3/23.