- The amount of assets submitted to the restaking protocol has increased by around 170%.
- At 3 p.m. ET today, EigenLayer’s TVL caps will be restored back to the initial metrics.
After EigenLayer temporarily lifted its deposit limitations, its TVL surged to roughly $6 billion in the previous three days. According to DeFiLlama statistics, the amount of assets submitted to the restaking protocol has increased by around 170% from $2.15 billion when the window started on Feb. 5 to $5.85 billion at the time of writing, which is equivalent to approximately 2.3 million ether.
According to estimates the TVL is equal to around 2% of the overall circulating quantity of ether. It also ranks EigenLayer in the top five DeFi protocols according to TVL, only below JustLend, Maker, Lido, and Uniswap.
Window Closing Soon
After a series of hikes to the deposit ceiling, EigenLayer temporarily lifted the most recent cap of 200,000 ether ($500 million) per liquid staking token. At 3 p.m. ET today, EigenLayer’s TVL caps will be restored back to the initial metrics. In the long run, however, the initiative hopes to completely remove caps, creating a “permissionless, neutral environment while promoting decentralization.”
According to EigenLayer, the interim limitations were removed in order to increase organic demand. Nevertheless, a large number of users have been encouraged to deposit funds and engage with the network in order to accumulate reward points. Stakers are weighing the possibility of receiving Eigen token airdrop incentives down the road.
On EigenLayer, users may stake their ether using liquid staking tokens, which they can then use to support the security of third-party networks and, maybe, receive more rewards.
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