How to interact when EigenLayer is officially launched on the mainnet?

This morning, the Ethereum restaking protocol EigenLayer officially announced that it has launched the first phase of the application on the mainnet, allowing users to restake operations through two methods: liquid restaking and native restaking .

At the end of last quarter, EigenLayer had just completed a $50 million Series A round of financing led by Blockchain Capital, with participation from Coinbase Ventures, Polychain Capital, Bixin Ventures, Hack VC, Electric Capital, and IOSG Ventures.

Earlier, EigenLayer had completed a $14.5 million seed round of financing led by Polychain Capital and Ethereal Ventures.

Because the innovative re-staking mechanism opens up the imagination space for expanding the trust layer of Ethereum, EigenLayer has attracted countless attentions at the moment when LSD is in full swing, and is even regarded by many practitioners as the most important project in the current Ethereum ecology (probably in many There is no need to add "one" in human eyes).

As mentioned above, current users who want to experience and interact with EigenLayer can do so in two ways: liquidity re-staking and native re-staking. The difference between the two is that the latter is suitable for staking users who independently run verification nodes.

In the following, we will describe the operational details of these two re-pledging methods, especially the liquidity re-pledging method that is more suitable for ordinary users.

Liquidity Re-Pledge

The first is liquidity re-pledging. At the current stage, EigenLayer supports three kinds of liquidity staking derivative tokens, namely Lido stETH (stETH), Rocket Pool ETH (rETH) and Coinbase Wrapped Staked ETH (cbETH).

For the sake of stability, **EigenLayer temporarily limits the TVL of the agreement and the amount of a single deposit. In terms of TVL, the three assets stETH, rETH, and cbETH are all limited to 3,200 tokens (a total of about 9,600 ETH). In terms of a single deposit amount, users are required to deposit only 32 tokens at a time. **

Due to the extremely high popularity of EigenLayer, although the threshold for this limit is already high, the three assets still quickly reached the TVL hard cap shortly after the mainnet went live, and it is temporarily impossible to continue depositing assets.

However, EigenLayer has also mentioned that TVL and single deposit amount restrictions will be gradually relaxed in a few weeks to a few months, and for users who intend to interact with the leading agreement, it is still necessary to understand the operation method in advance so that they can use it in the future Seize the "pit position" as soon as possible when the quota is released at one time.

Before operating, users need to prepare a certain amount of stETH, rETH or cbETH.

Taking the most commonly used stETH as an example, after clicking the stETH column on the Dapp official website, you can jump to the corresponding re-staking page. Next, the user needs to input the amount of stETH they want to re-stake, click "Next" to complete the authorization (there will be a prompt of "custom expenditure limit", just choose the largest value) and after confirming the two transactions, see "Deposit Successful" That is, the re-pledge is successful.

Note from Odaily Planet Daily: This is a screenshot of the test network because the main network is no longer able to deposit.

After returning to the homepage, we can directly track the changes in the stETH rewards we have re-staked.

Note from Odaily Planet Daily: This is a screenshot of the test network because the main network can no longer be deposited.

After completing the re-stake, we can also withdraw our own assets by unstaking. The specific method is to select "UnStake" on the re-staking page of a specific token. One thing to note about unstaking is that it takes a 7-day security period to withdraw funds from EigenLayer, so you must wait at least 7 days before you can withdraw assets.

Native re-staking

Different from liquidity re-pledging, native re-pledging needs to run verification nodes independently, so the technical threshold and capital threshold are relatively high for users (also 32 ETH, but liquidity re-pledging will loosen restrictions in the future, this is Ethereum The hard requirements of Fang’s pledge mechanism will not change in the future).

For this method, EigenLayer has also set a TVL limit of 9600 ETH, but currently only 384 ETH has been deposited (in conversion, only 12 addresses have deposited), and there is still a large space.

For users who are running verification nodes independently and want to re-stake in this way, they can refer to the tutorial content given in the official documents to assign the withdrawal credentials of the validator to the EigenPods address. The specific deposit operation has four steps.

First of all, enter the Dapp official website and link the wallet.

Then you need to click "Create EigenPod" to create an EigenPods. After success, click "Pod Details" to get the specific address of the EigenPods.

Next, the user needs to configure the withdrawal credentials on the Beacon chain (to complete this step, the Ethereum verification node needs to be run first) to the EigenPods address.

Finally, you can also return to the homepage to check the changes in your re-pledging rewards in real time.

Phase 1, just the beginning

It is worth mentioning that, in addition to interaction, EigenLayer also issued a commemorative free NFT on Zora this time (Zora will charge a minting fee of 0.000777 ETH). Currently, the minting window will be closed in 3 and a half days. Users may wish to play a self-defense.

According to the official description of EigenLayer, the launch of the protocol will be divided into three phases to attract various participants to join the ecosystem.

In the first phase "Stakers" of this launch, stakers can try to re-pledge through EigenLayer; in the second phase "Operators", node operators can accept the entrustment of stakers on EigenLayer; Services", the active verification service will be launched.