Originally published on: November 04, 2024
EigenLayer, a leading staking platform on Ethereum, is enhancing its staking options by introducing new features such as Bitcoin yield and payouts from P2P.org operators. These exciting updates were revealed in separate announcements on November 4th.
ARPA Network, a protocol operating on EigenLayer, has announced that it will start rewarding users who deposit uniBTC, a wrapped Bitcoin wrapper, as stated in a recent blog post by the protocol. This move will provide BTC holders with increased liquidity and more opportunities for earning rewards.
At the same time, P2P.org, one of EigenLayer’s major professional validators, distributed a staggering $2.2 million in Ether to stakers on November 4th. This demonstrates the platform’s commitment to rewarding its users for participating in the staking process.
EigenLayer is known for securing various third-party protocols with over $10 billion in collateral that has been restaked through its platform. To boost adoption, EigenLayer recently launched a rewards program in its native token, EIGEN, offering incentives to stakers based on the number of actively validated services (AVSs) they support.
Sreeram Kannan, the founder of EigenLayer, mentioned in an interview with Cointelegraph that the platform is focusing on onboard consumer Web3 applications post the EIGEN unlock, aiming to accelerate adoption and increase protocol revenues.
With ARPA utilizing EigenLayer to generate secure random numbers for various applications, and P2P.org overseeing a significant amount of restaked collateral worth over $540 million, EigenLayer continues to establish itself as a key player in the staking ecosystem.
As EigenLayer looks towards the future, the platform remains dedicated to enhancing user experience and driving innovation within the staking space. Stay tuned for more updates from EigenLayer as they continue to revolutionize the staking industry.
