High US crypto alternate Coinbase has added a yet-to-be-launched Ethereum (ETH) restaking challenge to its roster of potential upcoming listings.
In an announcement, Coinbase says that it has added EigenLayer (EIGEN) to its itemizing roadmap, which the alternate makes use of for transparency and to forestall 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 functions.
The appearance of restaking and different liquid staking derivatives permits customers to stake their cash with out forgoing different alternatives whereas doing so, growing capital effectivity and worth accrual to the token.
In keeping with Ethereum growth agency Consensys, EigenLayer has the potential to enhance Ethereum’s payment mannequin.
“Briefly, this mannequin creates a movement of worth that grows together with the community: Ethereum provides safety to all the totally different DApps constructed on high of it, and in alternate, these DApps ship charges again to Ethereum. The basic limiting issue of Ethereum’s mannequin is that it’s fully unique to EVM (Ethereum Digital Machine) compatibility. Enabling new protocols to take part right here, fairly than constructing their very own pool of safety, helps hold worth movement locked inside Ethereum and helps drive extra income again to the community.”
In keeping with Coinbase’s pre-launch market information, EIGEN perpetual futures contracts are buying and selling at $3.98.
The Eigen Basis, the group behind EigenLayer, announced by way of the social media platform X that EIGEN tokens would change into transferrable on September thirtieth.
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