Leading US cryptocurrency exchange Coinbase has introduced a new, upcoming Ethereum (ETH) restaking initiative to its list of potential future listings.
In an announcement, Coinbase reveals that EigenLayer (EIGEN) has been added to its listing roadmap, serving as a means of transparency and preventing insider trading on coins before they are officially listed.
EigenLayer is designed to offer restaking services for ETH holders. Users who stake ETH can choose to participate in EigenLayer and rehypothecate their assets within its network for use in various applications.
The rise of restaking and other liquid staking derivatives enables users to stake their assets while still pursuing additional opportunities, enhancing capital efficiency and value accumulation for the token.
As noted by Ethereum development firm Consensys, EigenLayer has the potential to enhance Ethereum’s fee structure.
“In essence, this model creates a value flow that expands in tandem with the network: Ethereum provides security to all the various DApps built on it, and in return, these DApps transfer fees back to Ethereum. The primary limiting factor of Ethereum’s model is its exclusive reliance on EVM (Ethereum Virtual Machine) compatibility. Allowing new protocols to engage here, instead of establishing their own security pool, helps to retain value flow within Ethereum and increases revenue directed back to the network.”
Based on Coinbase’s pre-launch market data, EIGEN perpetual futures contracts are currently priced at $3.98.
The Eigen Foundation, which is behind EigenLayer, announced via the social media platform X that EIGEN tokens will become transferable on September 30th.
Stay Updated – Subscribe to receive email notifications directly to your inbox
Monitor Price Movements
Follow us on X, Facebook and Telegram
Explore The Daily Hodl Mix
Disclaimer: Views expressed at The Daily Hodl are not investment advice. Investors should conduct their due diligence prior to making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be aware that your transactions and trades are at your own risk, and any losses incurred are your responsibility. The Daily Hodl does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not an investment advisor. Additionally, The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Dutch
English
French
German
Greek
Italian
Portuguese
Russian
Spanish