EigenLayer Integrates 6 new LSTs: What it Means for InceptionLRT

December 08, 2023
Share on XShare on Telegram

EigenLayer Integrates 6 New Collaterals_Cover.png EigenLayer has announced the expansion of the accepted LSTs onto the platform and a cap increase for the integration of these. InceptionLRT welcomes with great enthusiasm these new LSTs arriving into the ecosystem.

TL;DR:

  • 6 new liquid staking tokens will be integrated into EigenLayer on the 18th of December;

  • StakeWise, Swell, Origin, Stader, Binance, and Ankr LSTs will be integrated into the protocol;

  • EigenLayer LSTs cap will increase to 500k ETH.

EigenLayer will Onboard 6 new LSTs and increase LSTs caps

Following up on the voting competition held between October 27th and November 1st, by active restakers and LST contestant holders, EigenLayer announced the integration of 6 new Liquid Staking Tokens (LSTs) into the platform, on December 18th at 10 am PT.

The integration of the new LSTs will see an increase in the current restaking caps, which will double the amount available to restake per each token up to a maximum of 200k (it was capped at 100k previously). However, a global pause mechanism will come into effect as the total LST TVL approaches the 500k ETH.

This recent cap increase won’t be exclusive to the new 6 tokens being onboarded, as it will also impact the previously integrated tokens from Lido, Rocket Pool, and Coinbase.

The New Players Election

During the voting period, when EigenLayer's active stakeholders voted to choose the new LSTs to be integrated, a total of 12.8k wallets engaged in the voting process resulting in a total of >500k ETH in holdings taking part. The voting mechanism allocated one vote per each ETH or LST in restaking.

The results of the voting were publicly announced by EigenLayer, welcoming StakeWise, Swell, Origin, Stader, Binance, and Ankr as the new 6 protocols.

EigenLayer Integrates 6 New Collaterals_Image.png LST Contest Winners. Source: EigenLayer

EigenLayer operations multisig has begun the transaction to restart protocol functions. After a mandatory 10-day waiting period, these assets will be seamlessly added to the system, accompanied by a suitable modification in the cap limits.

The Expansion on the Horizon and What it Means for InceptionLRT

At InceptionLRT we are looking for these integrations with extreme enthusiasm. Even though we are not confirming the creation of a liquid restaking token (LRT) of any of these tokens as of now, we are thrilled to see the ecosystem grow and capture the attention of the largest players in the industry.

As an LRT provider, the integration of new LSTs into the protocol opens avenues for protocol expansion and deserves due consideration on the implementation of the same. The cap increase also poses an opportunity for InceptionLRT to leverage, as an expansion of the capacity to gather more user interest in participating in this ecosystem.

The future is looking bright for EigenLayer and the whole ecosystem! We invite all users to start testing the InceptionLRT platform, which is already on testnet, and be at the forefront of this innovative solution for Ethereum’s ecosystem expansion.

© 2024 InceptionLRT. All rights reserved