The developers behind the EigenLayer restaking protocol have launched a testnet. Initially, the solution is based on the Goerli Ethereum testnet.
At the end of March, the project raised $50 million in a Series A funding round at a $750 million valuation. EigenLayer seeks to become a decentralized marketplace for Ethereum node operators and validators to generate income from offering value-added services.
The protocol allows holders to re-stake the coins they acquire in exchange for locked ETH on other platforms. Coins can be used to validate and secure third-party networks such as sidechains or non-EVM blockchains.
EigenLayer’s main network launch is expected no sooner than the third quarter of 2023, after the end of the test phase, which consists of three stages: attracting users to liquid and native restaking with coins from Lido (stETH) and RocketPool (rETH); connecting node operators and implementing delegation from restakers; and implementing active network check services into the protocol.
Depending on the results of testing and user feedback, the team will decide which assets will be supported by the mainnet at launch.
