9 Feb 2024

What is EigenLayer?

EigenLayer is a protocol built on Ethereum that introduces restaking, a new primitive in cryptoeconomic security. This primitive enables the reuse of ETH on the consensus layer. Users that stake ETH natively or with a liquid staking token (LST) can opt-in to EigenLayer smart contracts to restake their ETH or LST and extend cryptoeconomic security to additional applications on the network to earn additional rewards.

With EigenLayer, Ethereum stakers can help secure many services by restaking their staked ETH and opting-in to many services simultaneously, providing pooled security. Reusing ETH to provide security across many services reduces capital costs for a staker to participate and significantly increases the trust guarantees to individual services.
Anyone building a new decentralized service for Ethereum must bootstrap a new trust network to secure their system, fragmenting security. EigenLayer solves this problem by enabling any service, regardless of its composition (e.g. EVM-compatibility), to tap into the pooled security of Ethereum's stakers, creating an environment for permissionless innovation and free-market governance.

EigenLayer introduces two novel ideas, pooled security via restaking and free-market governance, which serve to extend the security of Ethereum to any system and to eliminate the inefficiencies of existing rigid governance structures:


  1. Go to the EigenLayer testnet page.
  2. Connect your Metamask wallet.
  3. Change the network to Goerli.
  4. Currently, they’ve Lido’s stETH and Rocket Pool’s rETH pools to test with so you will need stETH and rETH.
  5. Go and get Goerli ETH from this faucet.
  6. Send Goerli ETH to this Lido’s stETH token contract address “0x1643E812aE58766192Cf7D2Cf9567dF2C37e9B7F”. You will get Lido’s stETH back automatically once your transaction is complete.
  7. Go to the Rocket Pool testnet page and stake your Goerli ETH to get Rocket Pool’s rETH.
  8. Now you will have both Lido’s stETH and Rocket Pool’s rETH testnet tokens.
  9. Go back to the EigenLayer testnet page and select “Rocket Pool ETH” and stake your rETH and then select the “Lido Staked Ether” pool and stake your stETH.


  1. Visit the EigenLayer mainnet page.
  2. Connect your Metamask wallet.
  3. They currently support stETH (Lido), rETH (Rocket Pool), cbETH (Coinbase), wBETH (Binance), osETH (Stakewise), swETH (Swell), AnkrETH (Ankr), EthX (Stader) and OETH (Origin ETH).
  4. Get some ETH first and restake it on one of the above-mentioned platforms to get their LSTs.
  5. Now, go back to the pools and stake your tokens.
  6. You will start earning EigenLayer points. They’re a way to measure your contribution to the EigenLayer ecosystem.
  7. You can also earn more EigenLayer points as well as become eligible for other speculative airdrops by interacting with other projects using the EigenLayer protocol. Some are:
    • Swell has confirmed to airdrop SWELL tokens to users who earn PEARL points. Staking ETH on Swell and then restaking swETH on EigenLayer gets you PEARL points as well as EigenLayer points.
    • You can also earn EigenLayer points as well as ether.fi points for staking on Ether.fi. They’ve also hinted at rewarding early users.
    • Stake ETH on Renzo to earn Renzo points as well as EigenLayer points. They’ve also hinted at rewarding early users.

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