What Is EigenLayer?
EigenLayer is the protocol that pioneered restaking — a mechanism that lets Ethereum stakers reuse their staked ETH to secure additional protocols, called Actively Validated Services (AVS). With over 5 million ETH restaked (worth $15B+), EigenLayer has become one of the most significant infrastructure layers in DeFi.
The core idea: Ethereum's security is expensive to build. Instead of each new protocol bootstrapping its own validator set, they can rent security from Ethereum's existing stakers through EigenLayer.
How Restaking Works
Step 1: Stake ETH
You either run an Ethereum validator (native restaking) or hold liquid staking tokens like stETH, rETH, or cbETH (liquid restaking).
Step 2: Deposit into EigenLayer
You deposit your staked ETH or LSTs into EigenLayer's smart contracts. This doesn't move your ETH off Ethereum — it creates an additional commitment layer.
Step 3: Delegate to an Operator
Operators are entities that run software for AVSs on your behalf. You delegate your restaked ETH to an operator, and they opt into various AVSs.
Step 4: Earn AVS Rewards
Each AVS pays rewards to the operators and restakers that secure it. Rewards come in various tokens — native AVS tokens, ETH, or stablecoins.
How to Restake on EigenLayer — Step by Step
Liquid Restaking (Easiest)
- Acquire LSTs — Get stETH from Lido, rETH from Rocket Pool, or cbETH from Coinbase.
- Visit app.eigenlayer.xyz and connect your wallet.
- Choose your LST — Select the token you want to restake.
- Deposit — Approve and deposit your LSTs into EigenLayer.
- Delegate to an operator — Browse operators, check their AVS selections and track record, then delegate.
- Earn rewards — Claim rewards periodically from the EigenLayer dashboard.
Native Restaking (Advanced)
- Run an Ethereum validator with 32 ETH.
- Set withdrawal credentials to EigenLayer's EigenPod contract.
- Create EigenPod through the EigenLayer app.
- Verify validator — Submit proof that your validator is pointed to EigenLayer.
- Delegate to an operator (or become one yourself).
Liquid Restaking Tokens (LRTs)
For even simpler access, Liquid Restaking Token protocols handle the EigenLayer interaction for you:
| LRT Protocol | Token | TVL | Approach |
|---|---|---|---|
| EtherFi | eETH/weETH | $5B+ | Largest LRT, auto-restaking |
| Puffer Finance | pufETH | $1.5B+ | Anti-slashing technology |
| Kelp DAO | rsETH | $1B+ | Multi-LST restaking |
| Renzo | ezETH | $1B+ | Cross-chain restaking |
| Swell | rswETH | $500M+ | Native + liquid restaking |
AVS Ecosystem
Over 20 AVSs are live or launching on EigenLayer, including:
- EigenDA — Data availability layer for rollups (the first and largest AVS)
- Omni Network — Cross-rollup interoperability
- AltLayer — Restaked rollup infrastructure
- Lagrange — Zero-knowledge coprocessor
- Witness Chain — Decentralized physical infrastructure
EigenLayer vs Alternatives
| Feature | EigenLayer | Symbiotic | Karak | Babylon (BTC) |
|---|---|---|---|---|
| Restaked value | $15B+ (5M+ ETH) | $2B+ | $1B+ | $4B+ (BTC) |
| Base asset | ETH/LSTs | Any ERC-20 | Any ERC-20 | Bitcoin |
| AVS count | 20+ | 5+ | 3+ | 10+ |
| Slashing | Live | Planned | Planned | Planned |
| Operator set | Open | Permissioned | Open | Finality providers |
EIGEN Token Overview
- Total supply: 1.67 billion EIGEN
- Key utility: Intersubjective slashing — EIGEN is forked to resolve disputes that can't be verified on-chain
- Staking: EIGEN can be staked alongside ETH for additional AVS security
- Governance: Community governance over protocol parameters
Risks of EigenLayer Restaking
Pros
- Earn additional yield on top of ETH staking (~2–8% extra)
- Extends Ethereum security to new protocols — massive utility
- Liquid restaking tokens (eETH, pufETH) make it simple
- 5M+ ETH restaked — strong network effects and operator ecosystem
- Multiple AVSs mean diversified reward sources
Cons
- Slashing risk — AVS failures can cause loss of restaked ETH
- Operator risk — delegating to a bad operator exposes your stake
- Smart contract risk across EigenLayer, LRT protocols, and AVSs
- Compounding complexity — more layers = more potential failure points
- EIGEN token utility (intersubjective slashing) is novel and unproven
Frequently Asked Questions
What is restaking on EigenLayer?
Restaking lets you reuse your staked ETH (or LSTs like stETH) to simultaneously secure additional protocols called Actively Validated Services (AVS). You earn extra rewards from each AVS you opt into, on top of your base Ethereum staking yield.
How much can I earn from EigenLayer restaking?
Earnings depend on which AVSs you secure. As of March 2026, additional yields range from 2–8% APY on top of base ETH staking (~3.5%), though rewards vary significantly by operator and AVS selection.
What is the difference between native and liquid restaking?
Native restaking requires running an Ethereum validator and pointing withdrawal credentials to EigenLayer. Liquid restaking uses LSTs (stETH, rETH) — you deposit them into EigenLayer without running a node. Liquid restaking is simpler for most users.
Can I lose my restaked ETH?
Yes. EigenLayer introduces slashing conditions from AVSs. If an operator you delegate to misbehaves on an AVS, your restaked ETH can be slashed. This is the primary risk of restaking beyond standard staking risks.