Native Restaking is What Makes Restaking Permissionless.
When we first started building EigenLayer, an LST protocol wanted us to exclude native restaking and accept only LSTs.
Back then, EigenLayer was just an idea with zero TVL, and Sreeram was tirelessly advocating our vision on podcasts.
The proposal, at the time, seemed irresistible: quicker market entry and 70% fewer engineering challenges, as native restaking posed most of the technical hurdles.
It was a difficult decision, but we declined.
Native restaking is the lifeblood of Permissionless Restaking. Accepting the LST-only offer would alienate solo stakers and all those wanting control over their validators, shifting a large stake percentage to existing LSTs.
Despite the complexity of the LST dominance issue, excluding non-LST stakers would definitely harm the Ethereum community in the long term.
In hindsight, rejecting the offer was our best decision, staying true to our belief that any Ethereum validator, regardless of their operator affiliation or stake origin, should and could participate in restaking.
Permissionless Restaking.
As for Permissionless Staking (staking other ERC-20 tokens), the EigenLayer protocol is general-purpose and can accept any ERC-20 asset as stake.
Flexibility is Permissionless Restaking + Permissionless Staking. Don't let others tell you otherwise.
When we first started building EigenLayer, an LST protocol wanted us to exclude native restaking and accept only LSTs.
Back then, EigenLayer was just an idea with zero TVL, and Sreeram was tirelessly advocating our vision on podcasts.
The proposal, at the time, seemed irresistible: quicker market entry and 70% fewer engineering challenges, as native restaking posed most of the technical hurdles.
It was a difficult decision, but we declined.
Native restaking is the lifeblood of Permissionless Restaking. Accepting the LST-only offer would alienate solo stakers and all those wanting control over their validators, shifting a large stake percentage to existing LSTs.
Despite the complexity of the LST dominance issue, excluding non-LST stakers would definitely harm the Ethereum community in the long term.
In hindsight, rejecting the offer was our best decision, staying true to our belief that any Ethereum validator, regardless of their operator affiliation or stake origin, should and could participate in restaking.
Permissionless Restaking.
As for Permissionless Staking (staking other ERC-20 tokens), the EigenLayer protocol is general-purpose and can accept any ERC-20 asset as stake.
Flexibility is Permissionless Restaking + Permissionless Staking. Don't let others tell you otherwise.
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