EigenLayer AVS crypto-economic security ranking by restaked ETH
Thread357 words
Ranks AVSs by restaked ETH securing them: EigenDA 3.3M ETH ($11B), eoracle 2.2M, Lagrange state committees 2.1M. Notes 153 operators secure 19 mainnet AVSes and 35% of restaked ETH is still undelegated.
Key claims
EigenDA secured by 3.3M ETH ($11B)
153 operators securing 19 AVSes on mainnet
3.4M ETH delegated, 35% of restaked ETH undelegated
Crypto-Economic Security of AVS Protocols
š„ @eigen_da: 3.3M $ETH = $11B
š„ @eoracle_network: 2.2M $ETH = $7.2B
š„ @lagrangedev (State Committees): 2.1M $ETH = $7B
4ā£ @lagrangedev (Prover): 1.95M $ETH = $6.4B
5ā£ @BuildOnCyber MACH*: 1.9M $ETH = $6.2B
* ) powered by @alt_layer
There is many more AVS protocols and a lot of them build modular infrastructure components.
Why do they build on @eigencloud?
@eigencloud is a general purpose layer for programmable trust.
It allows anyone to bootstrap a decentralized network on top of Ethereum's existing trust layer & run arbitrary programs.
This significantly abstracts complexity in building these infra layers and improves security of middleware that today is often centralized and introduces additional trust assumptions which lie outside of the security guarantees blockchains like Ethereum provide.
@eigencloud changes this, repurposing Ethereum's trust layer to secure literally anything, generalizing Ethereum beyond the limitations of the EVM.
Crypto-economic security is guaranteed by restaked $ETH that operators (Ethereum validators) put up and that in the future can be slashed on mainnet in the case of malicious behaviour.
Currently, we have a total of 153 operators on @eigencloud that are securing 19 AVSes on mainnet.
> 3.4M ETH have been delegated to operators and notably, 35% of total restaked $ETH has not been delegated yet.
The leading operators are mainly validators run by LST protocols, which is not surprising considering how much TVL has been attracted through these frontends thanks to the UX simplification and airdrop incentives they provide.
On top of that, 83.4M $EIGEN have been delegated to operators, adding to the crypto-economic security guarantees from above (at least down the line).
Huge thanks to @eigenbeat for the amazing dashboards I used here. Go check it out!
For a more comprehensive (but not complete) overview of the @eigencloud AVS ecosystem, check my thread below! ā¾āØ
x.com/zerokn0wledge_/status/1785251066189398440
Also make sure to check out @RedactedRes, where we have been diving deep into the tech of some of these AVS protocols in our @eigencloud series.
One example includes the above-mentioned @eoracle_network š
x.com/RedactedRes/status/1790899707994325145
Another one is @lagrangedev š
x.com/RedactedRes/status/1781659039975309575
Or @alignedlayer š
x.com/RedactedRes/status/1797563612216635844
But there is many more. š
DYOR anon.
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