EigenLayer News: New AVS go live, EIGEN claims, Build On Eigen | May 14th

Weekly summaries of the most significant events in the EigenLayer ecosystem.

Web3 Citizen

May 14, 2024

TVL watch: $14.5b
EIGEN Claims are open
New AVSs live on mainnet
Build On Eigen
Puffer Mainnet
Lyra announces tokenized derivatives yield
Near’s Fast Finality Layer on Holesky
AVS Spotlight: OpenLayer
Infinite Layers: Witness Chain
ETH Prague: EigenLayer at the ProtoLayers Conference

🌐 Ecosystem News:

TVL watch: $14.5b

After days of opening $EIGEN claims, EigenLayer has a total value locked (TVL) of $14.475b according to DefiLlama.

EIGEN claims are open

Season 1 Rewards Are Here! All eligible users can begin claiming their EIGEN tokens until September 7th.

Season 1 will allocate approximately 113 million EIGEN. In Phase 1, 6.05% of the initial supply can be claimed, and Phase 2 will extend that to 6.75% in mid-June 2024. Across all Seasons, Eigen Foundation will distribute 15% of EIGEN to the community.

Claims are only at claims.eigenfoundation.org.

Eigen Foundation Blog | How to delegate EIGEN to EigenDA

New AVSs live on mainnet

OpenLayer launches OpenOracle, a user-operated data oracle that provides and verifies external data feeds for smart contracts in an optimistic and cryptographically provable manner.
DODOchain, the Omni Trading Layer3, launches a fast finality AVS designed for the DODOchain by AltLayer.

Learn more: OpenOracle | DODOchain MACH

Build On Eigen

EigenLayer announced Build On Eigen, a space to keep up with educational series, tutorials, & guides, early stage AVSs and rollups, events, and ecosystem updates. You can also check out Awesome AVS to access resources and learn more about AVS projects.

Check out Awesome AVS | Follow @buildoneigen

Puffer Mainnet 🐡

After much anticipation, last week Puffer the native Liquid Restaking Protocol built on EigenLayer. Puffer introduces native Liquid Restaking Tokens (nLRTs) that accrue Proof of Stake and restaking rewards.

Nodes within the protocol leverage Puffer’s anti-slashing technology to reduce risks. With the launch of the Mainnet, users can now deposit native ETH, stETH, and wstETH, and also delegate EIGEN to puffer operators.

Lyra announces tokenized derivatives yield on EigenLayer

Lyra introduces a new onchain primitive for derivatives yield: the tokenized trading account. “In the background, this account executes a predefined strategy transparently and onchain, compounding LPs with real yield in ETH and USDC on their LRT collateral.”

Users can now deposit LRTs into Lyra, minting a yield-bearing LRT usable across protocols. Through tokenized basis trade and covered call strategies, users earn increased APYs on their LRTs. Initially, Lyra supports Etherfi’s eETH and Swell’s rwsETH.

Near’s Fast Finality Layer on Holesky

NEAR Fast Finality Layer (NFFL), is led by NEAR in collaboration with Nethermind and EigenLabs. NFFL aims to address the issues of fragmentation while achieving faster transaction finality across Ethereum’s Layer 2 rollups, leveraging Near’s validator features and EigenLayer restaking.

AVS Spotlight: OpenLayer

OpenLayer is the modular authentic data layer designed to modernize traditional data flows. OpenLayer offers a modular solution to coordinate data collection, validation and transformation.

OpenLayer’s first product OpenOracle, user-operated data oracle built on Eigenlayer. OpenOracle provides functionalities of existing oracles in a faster and cheaper manner. By leveraging user operated nodes, OpenOracle democratizes data streams and decreases the cost of creating and consuming data feeds. Furthermore, as data streams can be brought onchain optimistically and verified through cryptographic proofs, OpenOracle does not require complex consensus between nodes.

OpenLayer is backed by a16z CSX, Geometry Ventures, among others, and has worked on grants from the Ethereum Foundation, Arbitrum, and Optimism. It currently is secured by 34 operators, 42,200+ stakers and has over 1,522,000 ETH restaked.

Learn more about OpenLayer | Join the Mainnet launch celebration

📰 Community News:

Infinite Layers: Witness Chain

Tomorrow the fourth episode of "Infinite Layers", the series that highlights projects developed on EigenLayer will go live on X and Streamyard.

This episode features Ranvir Rana and Pramod Viswanath, co founders of Witness Chain, the AVS unifying DePIN economies. Together with members of the EigenLayer team, they will talk about DePIN coordination, which enables sharing information about physical locations, network capacities, and more.

Date: Wednesday May 15th, 9 am PT

X announcement | Join the live on streamyard

ETH Prague: EigenLayer at the ProtoLayers Conference

Going to ETH Prague? Don’t miss the opportunity to hear from the EigenLayer team!

Nader Dabit, Director of Developer Relations, and Gajesh Naik, Core Engineer at EigenLayer will speak on ProtoLayers, a highly technical side-event to ETHPrague that is focused on builders and researchers.

Date: May 30th

Save your spot at lu.ma/protolayersprague

📚 Learn about EigenLayer

Key resources, docs and guides on: EigenLayer Hub

{Stuff to Check Out}

Awesome AVS
eigenyields.xyz/eigenda
Lagrange’s seed round
Othentic <> Everstake
Skate on Holesky | Intro to Skate

See you next week

EigenLayer News is a space to learn and stay informed about announcements and upcoming initiatives within EigenLayer. Our aim is to provide a window into what we believe is the ultimate coordination layer in crypto.

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