Prime US crypto trade Coinbase has added a yet-to-be-launched Ethereum (ETH) restaking undertaking to its roster of potential upcoming listings.
In an announcement, Coinbase says that it has added EigenLayer (EIGEN) to its itemizing roadmap, which the trade makes use of for transparency and to forestall insider buying and selling on cash previous to them being listed.
EigenLayer goals to supply restaking companies for ETH stakers. Customers that stake ETH can decide in to EigenLayer and rehypothecate their cash on its community to make use of for different purposes.
The appearance of restaking and different liquid staking derivatives permits customers to stake their cash with out forgoing different alternatives whereas doing so, rising capital effectivity and worth accrual to the token.
Based on Ethereum growth agency Consensys, EigenLayer has the potential to enhance Ethereum’s charge mannequin.
“Briefly, this mannequin creates a movement of worth that grows together with the community: Ethereum provides safety to the entire completely different DApps constructed on high of it, and in trade, these DApps ship charges again to Ethereum. The basic limiting issue of Ethereum’s mannequin is that it’s completely unique to EVM (Ethereum Digital Machine) compatibility. Enabling new protocols to take part right here, relatively than constructing their very own pool of safety, helps maintain worth movement locked inside Ethereum and helps drive extra income again to the community.”
Based on Coinbase’s pre-launch market knowledge, EIGEN perpetual futures contracts are buying and selling at $3.98.
The Eigen Basis, the group behind EigenLayer, introduced by way of the social media platform X that EIGEN tokens would turn into transferrable on September thirtieth.
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