1. Executive Summary & Market Thesis
EigenLayer created the "Restaking" primitive, founded by University of Washington professor Sreeram Kannan. EigenLayer allows Ethereum stakers to repurpose their staked ETH and liquid staking tokens (stETH, etc.) to validate new Actively Validated Services (AVSs) such as oracles, bridges, data availability layers, and coprocessors, establishing a decentralized shared security marketplace.
2. Project Genesis & Core Mission
To eliminate the cost of capital for new distributed protocols by pooling Ethereum multi-billion dollar economic security.
3. Technical Architecture & Cryptographic Blueprint
Stakers opt into EigenLayer smart contracts on Ethereum, granting smart contracts the right to enforce additional slashing conditions for malicious behavior on connected AVS networks. The EIGEN token introduces intersubjective slashing for faults that cannot be proven cryptographically on-chain.
4. Tokenomics, Value Accrual & Utility
EIGEN handles intersubjective fault resolution, staking, and governance across the restaking ecosystem.
5. Verified Ecosystem Milestones & Developments
Over $12 billion in restaked collateral, launch of EigenDA, and onboarding dozens of production AVSs.
6. Risk Analysis & Attack Vectors
Systemic cascading slashing risk for Ethereum Layer 1, complex operator yield-stacking incentives.
7. Long-Term Structural Outlook
EigenLayer is one of the most foundational innovations in crypto architecture, transforming Ethereum into the ultimate trust marketplace.