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 stop insider buying and selling on cash previous to them being listed.
EigenLayer goals to offer restaking providers for ETH stakers. Customers that stake ETH can choose in to EigenLayer and rehypothecate their cash on its community to make use of for different purposes.
The arrival 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.
In line with Ethereum improvement agency Consensys, EigenLayer has the potential to enhance Ethereum’s payment mannequin.
“In brief, this mannequin creates a move of worth that grows together with the community: Ethereum provides safety to the entire totally different DApps constructed on high of it, and in trade, these DApps ship charges again to Ethereum. The elemental 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 preserve worth move locked inside Ethereum and helps drive extra income again to the community.”
In line with 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 through the social media platform X that EIGEN tokens would change into transferrable on September thirtieth.
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