EigenLayer, the pioneering Ethereum restaking protocol, launched a contest for liquid staking token issuers hoping to safe an integration on the platform.
On. Nov. 1, EigenLayer tweeted that whitelisted customers can vote till Nov. 8 to pick which liquid staking tokens (LSTs) they wish to see supported by the protocol. Eligibility was decided by a snapshot of LST pockets balances taken on Oct. 20.
“All lively Ethereum LST tokens backed by greater than 15,000 ETH are eligible for submission and inclusion within the voting course of, and all their token holders have the appropriate to forged votes,” EigenLayer stated in a weblog put up. “Any LST that receives votes exceeding 15,000 ETH will probably be built-in into EigenLayer within the upcoming months.”
Voters can choose from certainly one of 9 candidates, spanning wBETH from Binance, sfrxETH from Frax, SETH2 and rETH2 from Stakewise, swETH from Swell, AnkrETH from Ankr, LsETH from liquid collective, mevETH from MEV Protocol, EthX from Stader, and OETH from Origin.
EigenLayer will combine the profitable LSTs within the order that they surpass the required vote threshold. The workforce inspired voters to think about a candidate’s staking capability, whole worth locked, operational stability, and popularity throughout the web3 group.
The announcement added that EigenLayer will run comparable onboarding contests once more sooner or later.
LST Range
The information comes as considerations surrounding the centralization of Ethereum’s staking layer are at an all-time excessive.
Lido, the main LST supplier, presently controls 31.4% of staked Ether, down from 32.4% in early February. Lido has copped flak for refusing to self-limit its dominance, regardless of Ethereum researchers warning {that a} single entity controlling greater than one-third of staked Ether would undermine the decentralization of Ethereum.
EigenLayer presently helps uncapped native staking, along with restricted swimming pools supporting three LSTs — Lido’s stETH token, RocketPool’s rETH, and Coinbase’s cbETH. Nevertheless, its LST swimming pools are presently paused, with EigenLayer indicating the protocol seeks to make sure its development by selling a plurality of liquid staking tokens.
“We envision a future the place EigenLayer thrives in an uncapped and permissionless state,” EigenLayer stated. “However to achieve this future, we want group participation and the appropriate property to again our purpose.”
