EigenLayer’s EigenDA now supports native token restaking for layer-2 networks, enhancing rollup security and providing yield for token holders.
As per an Aug. 26 post on the X platform by EigenDA, the data availability protocol of EigenLayer, native token restaking is now supported for layer-2 scaling networks, in addition to Ether and EigenLayer’s native EIGEN token.
According to the post, “Teams can now restake their ERC-20 token to secure a custom quorum for their rollup, unlocking stronger security for rollup users and token yield for token holders.”
EigenDA is a “data availability layer” that operates on EigenLayer’s ETH restaking platform. It is intended to decrease the costs of storing and accessing onchain data for Ethereum’s layer-2 scaling solutions. According to a blog post, its objective is to ensure that “data availability (‘DA’) is available in abundance, scalable, and secure.”
The cost of securely storing and accessing transaction data has been a significant impediment for layer-2 scaling chains. In March, Ethereum’s Dencun upgrade was implemented to resolve this matter by implementing temporary offchain data stores known as “blobs.” Competing solutions are provided by other protocols, including Celestia.
Restaking is the process of simultaneously securing other protocols by utilizing a token that has already been staked, which is collateral that has been posted with a validator in exchange for rewards. According to DefiLlama, EigenLayer currently has nearly $12.75 billion in total value locked (TVL).
EigenDA was the first “actively validated service” (AVS) to be launched on EigenLayer and the largest. According to EigenLayer’s website, it is safeguarded by approximately 3.6 million restaked ETH and 71.5 million EIGEN, which were contributed by over 128,000 stakeholder.
Native token restaking on EigenDA enables a 2 to establish custom consensus mechanisms, or “quorums,” for the secure storage and retrieval of data. Additionally, it broadens the selection of tokens that generate yield through restaking.
“You will soon be able to opt in to support staking other tokens in the same way you staked ETH and EIGEN tokens as custom ERC20 token quorums are added to EigenDA,” according to the post.
