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Information about EigenLayer (EIGEN)
EigenLayer is an Ethereum-based protocol that introduces a restaking mechanism. This allows ETH stakers to reinvest their locked tokens or Liquid Staking Tokens into other protocols, enhancing the overall network security. By doing so, EigenLayer empowers developers to tap into Ethereum's robust security without the overhead of managing their own security infrastructure.
Having secured over $164 million in funding from top-tier investors like A16z, Polychain Capital, and Coinbase Ventures, EigenLayer has seen meteoric growth. With a Total Value Locked (TVL) surging past $12.08 billion in September 2024, a ninefold increase year-to-date, it has solidified its position as the third largest DeFi protocol, trailing only Lido and Aave.
EIGEN is a native coin of the EigenLayer ecosystem, operating on Ethereum according to ERC20 standard, and can be used to:
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