Coinbase, the popular US crypto exchange, has added EigenLayer (EIGEN) to its listing roadmap. This means that the exchange is considering listing the project, which aims to provide restaking services for Ethereum (ETH) stakers.
What is EigenLayer?
EigenLayer allows users who have staked their ETH to “rehypothecate” their coins. This means they can use their staked ETH for other applications, like running decentralized apps (DApps), without having to unstake their coins.
This “restaking” concept offers a few advantages:
- Increased Capital Efficiency: Users can earn rewards from both staking and using their ETH for other applications.
- Value Accrual: This can lead to increased value for the ETH token.
EigenLayer’s Potential Impact on Ethereum
According to Consensys, a leading Ethereum development firm, EigenLayer has the potential to improve Ethereum’s fee model. By allowing DApps to leverage the security of the Ethereum network, EigenLayer could help keep value flowing within the Ethereum ecosystem and drive more revenue back to the network.
EIGEN Token on the Move
The Eigen Foundation, the organization behind EigenLayer, announced that EIGEN tokens will become transferable on September 30th. EIGEN perpetual futures contracts are currently trading at $3.98.
Coinbase Listing Roadmap
Coinbase’s listing roadmap is a tool used to provide transparency and prevent insider trading on coins before they are listed on the exchange. By adding EIGEN to the roadmap, Coinbase is letting users know that they are considering listing the project.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions. /p>
