The restaking DeFi protocol, EigenLayer sees a massive surge in TVL following its increased liquid staking limit to 100K Ether.
EigenLayer’s TVL (total value locked) has spiked 200% in a sudden jump. The TVL was near $78 million hours before its increasing liquid token staking limit. It currently lays at $236.7 million, according to data from DeFiLlama.
The innovative restaking protocol increases its token cap gradually which eventually leads to increased participation from users. It allows to deposit a number of liquid tokens including Lido’s stETH, Rocket Pool’s rETH and Coinbase’s cbETH.
EigenLayer allows to restake ETH liquid-staked assets to unlock additional yield rewards. It was launched in June, 2023.
The liquid staking has become the most popular primitive in decentralized finance (DeFi) with it having a $18 billion market. Lido is currently the biggest LSD protocol with a 74% dominance in domain
Also Read: Will Mantle’s $66M ETH Staking Bet on Lido Pay Off Big?
