EigenLayer Unlocks Transfers, Expected To Launch On Major Exchanges

According to PANews, EigenLayer is set to unlock transfers tomorrow, with expectations of launching on major exchanges. The restaking sector has faced criticism for being a complex game among staking tokens. However, this criticism overlooks a significant positive externality: EigenLayer, along with protocols like Etherfi, Puffer, Renzo, KelpDAO, and Swell, has disrupted Lido's monopoly in the Liquid Staking Token (LST) market. Lido's market share has decreased from a concerning 33% to 28%, thereby maintaining the decentralization and security of the Ethereum mainnet. Restaking combined with Active Validator Set (AVS) represents the complete potential of EigenLayer. Currently, 19 projects have adopted EigenLayer's AVS, including OmniNetwork, Cyber MACH, AltLayer MACH, DODOchain MACH, and ARPA Network. Notable projects without token generation events (TGE) include EigenDA, Hyperlane, eoracle, Witness Chain, and Lagrange. Following Vitalik Buterin's confirmation of the Rollup Centric roadmap for the Ethereum community, the ReStaking+AVS paradigm faces some uncertainty. The next step might involve integrating with the Rollup paradigm to provide services such as Data Availability (DA), shared sequencers, high-security oracles, unified cross-domain liquidity, and ZK coprocessors. Given the current adoption of AVS, the Ethereum community's concern about consensus overload seems less urgent than it did before the exponential growth of the restaking sector earlier this year. Consensus overload refers to validators potentially taking on too many responsibilities beyond their original role on the Ethereum mainnet. This could lead to the dispersion of validator resources, complicate incentive mechanisms, and raise security concerns if a large number of validators participate in EigenLayer, potentially affecting the overall security of the Ethereum mainnet.