EigenLayer introduces Protocol Council to advance decentralized governance

EigenLayer introduces Protocol Council to advance decentralized governance

Is the newly fashioned Protocol Council the important thing to strengthening EigenLayer’s protocol safety and supporting community-driven progress?

On Jan. 14, EigenLayer (EIGEN) introduced the formation of the Protocol Council to make sure protocol safety and consider EigenLayer Enchancment Proposals. The information was shared by way of a tweet from the Eigen Basis.

EIGEN is a protocol constructed on Ethereum (ETH) that introduces restaking, a characteristic permitting already staked ETH (ETH locked as much as safe the community) to additionally safe varied different functions.

In easier phrases, in case you have ETH staked to assist shield the Ethereum community, you should utilize that very same staked ETH to offer safety for decentralized providers like sequencers (which assist order transactions), oracles (which provide real-world knowledge to the blockchain), and knowledge availability layers (which guarantee knowledge is accessible and verifiable), opening up new prospects throughout decentralized functions.

The newly fashioned Protocol Council might be instrumental in directing and overseeing the introduction of the above-mentioned options, guaranteeing that every one enhancements are well-vetted and help the protocol’s long-term targets, fostering broader ecosystem growth and empowering community-driven contributions.

Along with the formation of the council, EIGEN has launched the Eigen Council Telegram group, providing the neighborhood a chance to actively take part in governance, vote on proposals, and submit concepts. Energetic voters will obtain EIGEN tokens as rewards, making the method extra participating.

EigenLayer additionally helps restaking with any ERC-20 token, a characteristic launched in August 2024 with the launch of permissionless token help on its mainnet, permitting stakers to make use of varied ERC-20 tokens, together with AVS tokens, stablecoins, and Bitcoin(BTC) denominated property, to safe further networks and earn rewards.

Moreover, EigenDA, a service on EigenLayer offering low-cost knowledge availability for rollups, helps customized quorums secured by restaked ERC-20 tokens, providing further flexibility for rollup-specific safety wants.

With a 24-hour buying and selling quantity of over $137.35 million, the EIGEN token is buying and selling at about $2.98 as of Jan. 14. There are over 210.8 million EIGEN tokens in circulation, and the token’s market cap is $630 million, on the time of writing.

EIGEN 6-month value chart | Supply: crypto.information

Supply hyperlink

bitcoin
Bitcoin (BTC) $ 96,848.95 0.60%
ethereum
Ethereum (ETH) $ 2,665.52 1.54%
xrp
XRP (XRP) $ 2.46 2.18%
tether
Tether (USDT) $ 1.00 0.03%
solana
Solana (SOL) $ 202.27 3.96%
bnb
BNB (BNB) $ 639.80 10.28%
usd-coin
USDC (USDC) $ 1.00 0.00%
dogecoin
Dogecoin (DOGE) $ 0.256623 3.36%
cardano
Cardano (ADA) $ 0.701081 1.31%
staked-ether
Lido Staked Ether (STETH) $ 2,663.38 1.71%
tron
TRON (TRX) $ 0.235828 1.41%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 97,100.02 1.07%
chainlink
Chainlink (LINK) $ 18.77 3.83%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,176.13 1.66%
avalanche-2
Avalanche (AVAX) $ 25.24 4.32%
stellar
Stellar (XLM) $ 0.327908 0.33%
shiba-inu
Shiba Inu (SHIB) $ 0.000016 5.50%
sui
Sui (SUI) $ 3.10 4.39%
the-open-network
Toncoin (TON) $ 3.81 2.35%
hedera-hashgraph
Hedera (HBAR) $ 0.23954 4.38%
leo-token
LEO Token (LEO) $ 9.82 0.08%
usds
USDS (USDS) $ 1.00 0.17%
litecoin
Litecoin (LTC) $ 106.50 3.09%
hyperliquid
Hyperliquid (HYPE) $ 23.63 3.43%
bitget-token
Bitget Token (BGB) $ 6.42 0.81%
weth
WETH (WETH) $ 2,664.82 1.59%
polkadot
Polkadot (DOT) $ 4.82 6.02%
bitcoin-cash
Bitcoin Cash (BCH) $ 326.19 2.41%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.06%
mantra-dao
MANTRA (OM) $ 5.97 0.33%
uniswap
Uniswap (UNI) $ 9.28 5.44%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,817.32 1.52%
ondo-finance
Ondo (ONDO) $ 1.34 2.31%
pepe
Pepe (PEPE) $ 0.00001 5.86%
monero
Monero (XMR) $ 215.80 1.53%
near
NEAR Protocol (NEAR) $ 3.37 5.36%
whitebit
WhiteBIT Coin (WBT) $ 27.26 0.19%
aave
Aave (AAVE) $ 246.54 5.09%
mantle
Mantle (MNT) $ 1.05 0.99%
dai
Dai (DAI) $ 1.00 0.05%
official-trump
Official Trump (TRUMP) $ 17.04 0.28%
internet-computer
Internet Computer (ICP) $ 7.07 4.88%
aptos
Aptos (APT) $ 5.92 5.05%
susds
sUSDS (SUSDS) $ 1.04 0.03%
ethereum-classic
Ethereum Classic (ETC) $ 20.41 2.76%
bittensor
Bittensor (TAO) $ 361.85 7.68%
okb
OKB (OKB) $ 48.37 2.85%
vechain
VeChain (VET) $ 0.033317 2.62%
gatechain-token
Gate (GT) $ 21.45 4.09%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.314499 5.10%
crypto-com-chain
Cronos (CRO) $ 0.095976 4.21%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 96,956.98 0.69%
algorand
Algorand (ALGO) $ 0.278804 3.70%
render-token
Render (RENDER) $ 4.38 7.42%
kaspa
Kaspa (KAS) $ 0.08801 1.25%
tokenize-xchange
Tokenize Xchange (TKX) $ 28.02 6.94%
jupiter-exchange-solana
Jupiter (JUP) $ 0.837507 4.25%
filecoin
Filecoin (FIL) $ 3.37 5.24%
cosmos
Cosmos Hub (ATOM) $ 4.77 8.97%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 0.774074 9.45%
arbitrum
Arbitrum (ARB) $ 0.46116 6.26%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 97,654.16 1.68%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.13%
fasttoken
Fasttoken (FTN) $ 3.93 0.18%
celestia
Celestia (TIA) $ 3.16 12.35%
binance-staked-sol
Binance Staked SOL (BNSOL) $ 208.98 3.96%
binance-peg-weth
Binance-Peg WETH (WETH) $ 2,666.75 1.61%
ethena
Ethena (ENA) $ 0.503372 0.51%
kelp-dao-restaked-eth
Kelp DAO Restaked ETH (RSETH) $ 2,752.17 1.41%
solv-btc
Solv Protocol SolvBTC (SOLVBTC) $ 96,648.89 0.69%
kucoin-shares
KuCoin (KCS) $ 12.28 1.19%
immutable-x
Immutable (IMX) $ 0.840428 11.04%
optimism
Optimism (OP) $ 1.08 6.17%
raydium
Raydium (RAY) $ 5.00 0.75%
xdce-crowd-sale
XDC Network (XDC) $ 0.09241 4.44%
bonk
Bonk (BONK) $ 0.000018 6.24%
blockstack
Stacks (STX) $ 0.921056 6.93%
lido-dao
Lido DAO (LDO) $ 1.53 1.37%
injective-protocol
Injective (INJ) $ 13.98 6.21%
rocket-pool-eth
Rocket Pool ETH (RETH) $ 2,986.14 1.71%
theta-token
Theta Network (THETA) $ 1.34 3.31%
nexo
NEXO (NEXO) $ 1.32 0.17%
sonic-3
Sonic (prev. FTM) (S) $ 0.410914 6.30%
the-graph
The Graph (GRT) $ 0.135626 6.73%
movement
Movement (MOVE) $ 0.546784 5.48%
flare-networks
Flare (FLR) $ 0.021741 2.12%
worldcoin-wld
Worldcoin (WLD) $ 1.27 3.97%
mantle-staked-ether
Mantle Staked Ether (METH) $ 2,819.22 1.60%
usual-usd
Usual USD (USD0) $ 0.998357 0.00%
dexe
DeXe (DEXE) $ 19.78 3.28%
jasmycoin
JasmyCoin (JASMY) $ 0.022815 5.45%
solv-protocol-solvbtc-bbn
Solv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 96,103.75 0.67%
sei-network
Sei (SEI) $ 0.231278 5.87%
msol
Marinade Staked SOL (MSOL) $ 255.41 3.96%
gala
GALA (GALA) $ 0.022478 7.37%
the-sandbox
The Sandbox (SAND) $ 0.393794 5.97%
floki
FLOKI (FLOKI) $ 0.000099 11.96%
tezos
Tezos (XTZ) $ 0.92038 9.67%
eos
EOS (EOS) $ 0.616885 5.68%
bittorrent
BitTorrent (BTT) $ 0.00000087416521 2.52%
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