Thread by @luganodes

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The staking industry has grown to a whopping ~$152 billion, with #Ethereum leading the charge with the recent shift to PoS consensus🌐
But what if we told you that stakers could do more than just earn revenue from validating Ethereum transactions?

Introducing @eigenlayer🧵👇

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EigenLayer is a "restaking" protocol that lets $ETH holders stake & earn higher returns by performing additional tasks beyond just validating transactions

According to its founder, @sreeramkannan, "it is an extension protocol that extends the scope of what #Ethereum can do"🚀

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EigenLayer provides middleware solutions that aim to raise economic security to Ethereum levels🔐

But what is middleware, you ask?
It's a software layer that connects different software components and services to create a seamless experience.

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This is achieved through restaking - the secondary staking of Ethereum validators' ETH exposure👨‍💻️

By participating in restaking, stakers can earn revenue on the middleware and also have their original staked ETH slashed if they commit misbehavior.

source:@MessariCrypto

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EigenLayer also supports staking WETH/USDC LP Token and stETH/USDC LP Token, expanding the total addressable market. Moreover, EigenLayer enables other services, such as an oracle network, to rent security from #EigenLayer stakers, resulting in two core benefits👇

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First, by providing an extra layer of security, EigenLayer's middleware solutions ensure that other services are well-protected🔐
Second, EigenLayer stakers can earn additional revenue by renting out their security services to other projects.

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Examples of EigenLayer services include🛠️:

EigenDA: EigenLayer’s data availability (DA) solution that guarantees all transaction data is made available to other network participants regardless of validity.
EigenDA restakers function as DA nodes responsible for verifying data.

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MEV-Boost: Mechanism designed by Flashbots to manage bad MEV that occurs when front-running negatively affects the end user, usually a trader
EigenLayer's pooled security can help manage the process of block building, enabling partial-block MEV & helping honest block proposers

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Oracle secured by staked ETH: A project in which an oracle network secures its service by renting security from EigenLayer stakers.

Secure messaging through Hyperlane: A partnership with Hyperlane to provide secure messaging services using EigenLayer's pooled security

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Overall, EigenLayer's restaking protocol & middleware solutions are changing the staking game by providing additional revenue streams & enhanced security.
As the PoS movement continues to grow, EigenLayer's innovations could propel Ethereum & other projects to new heights🚀