The post Eigen Labs to introduce Permissionless Token Support on EigenLayer appeared on BitcoinEthereumNews.com.

An August 14 announcement from Eigen Labs revealed that the company would introduce Permissionless Token Support on EigenLayer. The feature will enable Actively Validated Services (AVSs) on EigenLayer to add ERC-20 tokens as restakable assets in a permissionless way. In the announcement, the EigenLayer developer explained that the feature was still on the testnet for a permissioned testing phase. EigenDA will be the first AVS to test the feature before it goes live.  Eigen Labs also revealed that the feature would deploy on the mainnet in the coming week as a protocol-layer update. The EigenLayer developer confirmed that it would also introduce the user interface support for restakers later in this year’s Q3. EigenLayer is one of the largest projects to launch this year. The protocol and its AVS, EigenDA, launched on Ethereum’s mainnet on April 9, and users deposited around $15 billion ahead of EigenLayer’s launch.  The new feature can improve AVSs’ crypto-economic security Coming Soon: Permissionless Token Support What Eigen Labs is proud to introduce Permissionless Token Support, an upcoming update, to the EigenLayer protocol. This feature will enable any ERC-20 token to be added as a restakable asset, significantly broadening the scope of… pic.twitter.com/zvN30f9Ipc — EigenLayer (@eigenlayer) August 14, 2024 The Eigen team disclosed that the Permissionless Token Support would broaden the scope of assets AVSs can utilize for crypto-economic security. The feature would also unlock the crypto-economic security of multiple assets on the protocol. These assets can be AVS-native tokens, BTC-denominated coins, and stablecoins. The announcement further explained that using native tokens for security will give them new utility. After the feature’s introduction, native tokens will gain more security functionality. AVS protocols can also use the tokens to reward users and operators. As a bonus, AVSs can further customize their security profiles. EigenLayer expanded on how…

---

Filed under: News - @ August 15, 2024 5:23 am