EigenLayer has achieved a remarkable milestone, with user deposits exceeding $900 million. This significant increase is attributed to the recent adjustment of deposit caps for liquid staking assets (LSTs), which led to an influx of over 410,000 ether.
The protocol’s decision to revise its re-staking limit from under 120,000 ETH to a new ceiling of 500,000 ETH (about $1.1 billion) promptly escalated EigenLayer’s total value from $250 million to over $900 million.
Expansion and Diversification
Originally, EigenLayer supported LSTs from Lido, Rocket Pool, and Coinbase. However, it has broadened its horizon by incorporating six additional LSTs, including Swell’s swETH, Stakewise’s sETH, and Stader’s xETH.
This expansion has spurred increased activity on the platform, drawing a wider pool of users. These users are not just participating but are potentially positioned to earn rewards in the form of Eigen tokens, although this remains speculative.
With the user deposits nearing the 500,000 ether cap, EigenLayer plans to pause further deposits.
This step follows EigenLabs’ successful $50 million Series A funding round in March, led by Blockchain Capital, highlighting the growing investor interest and the protocol’s expanding footprint in the decentralized finance sector.
Also Read: EigenLayer’s TVL Spiked 200%, 100K ETH Limit Filled In Hours
