Originally published on: November 04, 2024
EigenLayer, a leading platform for restaking on Ethereum, is enhancing its services by offering new restaking options. Users can now earn wrapped Bitcoin yield and receive payouts from node operator P2P.org, as announced on Nov. 4.
ARPA Network, a protocol operating on EigenLayer, will now reward depositors of uniBTC, a wrapped BTC token, with payouts, according to a recent blog post by the protocol.
This move by ARPA introduces new liquidity pathways and opportunities for BTC holders, expanding the potential rewards for stakeholders.
At the same time, P2P.org, EigenLayer’s primary professional validator, distributed $2.2 million in Ether to restakers on Nov. 4, showcasing the platform’s commitment to rewarding its users.
Restaking involves leveraging already staked tokens to secure other protocols simultaneously, a process central to EigenLayer’s operations. With over $10 billion of restaked collateral securing dozens of third-party protocols, EigenLayer is a key player in the DeFi space.
EigenLayer’s recent launch of a rewards program in its native token, EIGEN, aims to drive further adoption of restaking. Founder Sreeram Kannan explained that stakers and operators will receive rewards and fees based on the number of protocols they support, creating a sustainable ecosystem.
From generating random numbers securely to supporting data validation services, EigenLayer is at the forefront of DeFi innovation. ARPA and P2P.org are just some of the platforms utilizing EigenLayer’s capabilities to enhance their offerings and reward their users.
As consumer adoption of Web3 applications grows, EigenLayer remains dedicated to scaling protocol revenues and delivering value to its community. The recent EIGEN token unlock signals a new chapter for EigenLayer, positioning them as a leader in the DeFi space.
With a fully diluted market capitalization of $4 billion and a focus on securing protocols against a wide range of faults, EigenLayer continues to drive innovation in the blockchain ecosystem. Subscribe to our newsletter for more insights into the latest DeFi developments and financial opportunities.
