- EigenLayer is expanding restaking options for Bitcoin (BTC) and Ethereum (ETH) holders, offering enhanced yield opportunities on wrapped Bitcoin and payouts from its major validator, P2P.org.
- ARPA Network, built on EigenLayer, now supports uniBTC, enabling Bitcoin holders to earn rewards and increasing liquidity pathways in the restaking ecosystem.
- On Nov. 4, P2P.org distributed US$2.2 million in ETH to restakers, managing over US$540 million in collateral and competing with major validators like Figment, Blockdaemon, and Ankr.
EigenLayer (EIGEN), Ethereum’s largest restaking platform, is enhancing its offerings by introducing new restaking options for Bitcoin (BTC) and Ethereum (ETH) holders.
On Nov. 4, EigenLayer announced enhanced yield opportunities for wrapped Bitcoin and distributed payouts from P2P.org, a prominent node operator on the platform.
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More Yield Opportunities
In a separate announcement, ARPA Network, a protocol leveraging EigenLayer’s infrastructure, will now allow users to earn rewards on uniBTC, a restaked Bitcoin wrapper, according to a blog post by the protocol.
By supporting uniBTC, ARPA aims to increase liquidity for Bitcoin holders, offering fresh incentive pathways for those engaged in the restaking ecosystem and expanding liquidity avenues, the protocol said.
With uniBTC as a supported asset, ARPA expands liquidity avenues and rewards opportunities for Bitcoin holders.
ARPAThis development aligns with ARPA’s core functions on EigenLayer, where it generates secure random numbers essential for applications such as on-chain governance, gaming, and lotteries.
ARPA was one of the earliest protocols to leverage EigenLayer’s security model, providing foundational support for dApps needing reliable data randomness.
On the same day, P2P.org, a major validator on EigenLayer, distributed US$2.2M (AU$3.3M) in ETH as a reward to restakers.
As EigenLayer’s largest operator, P2P.org manages over US$540M (AU$823M) in collateral, which it uses to validate and secure a variety of decentralised applications. P2P.org plays a key role in the platform’s expanding restaking ecosystem, and it competes with other notable operators like Figment, Blockdaemon, and Ankr.
Focused Expansion in Web3 and New Use Cases
Following the anticipated unlock of the EIGEN token on Oct. 1, EigenLayer has prioritised partnerships with Web3 applications to grow its utility and revenue sources. For instance, RedStone, a prominent oracle provider, integrated a data-validation service with EigenLayer on Oct. 23, signalling increased interest in EigenLayer’s security solutions from diverse Web3 projects.
EigenLayer’s EIGEN token, with a fully diluted market cap of about US$4B (AU$6.09B), is designed to support a broader range of security needs than traditional proof-of-stake (PoS) mechanisms. The protocol recently investigated a US$5.5M (AU$8.3M) unauthorised sale of EIGEN tokens after a hacker gained access to an investor’s email chain.
However, the price of EIGEN has been on a downward trend in the last 30 days, as data from CoinMarketCap shows the token is down 16% on the weekly chart and 25% on the monthly scale. It’s currently trading at US$2.39 (AU$3.68), a decrease of 1.31% from yesterday.
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