Sreeram Kannan — EigenLayr: Permissionless Feature Addition to Ethereum (ETHconomics @ Devconnect)
Channel: ETHconomics Devconnect
Date: 2022-05-17

We propose EigenLayr, a re-staking collective for Ethereum. EigenLayr is a set of smart-contracts on Ethereum, that allows consensus layer stakers to grant smart-contracts the ability to impose additional slashing conditions on their staked ETH, thus allowing the extension of cryptoeconomic security to new services. By opting-in to EigenLayr, stakers can provide validation services for many new systems like data availability services, fair-ordering services, bridges, and sidechains. Instead of fragmenting security across different middleware, EigenLayr aggregates security across all of the middleware in the ETH ecosystem, thus significantly increasing the security of the Dapps relying on these services. Furthermore, the value of Ethereum increases significantly due to the future fee opportunity from these manifold services. Finally, EigenLayr enables a new era of permissionless innovation, where innovators need not build their own trust networks to implement new distributed validation services, but can instead rely on the high security and decentralization provided by ETH re-stakers in EigenLayr.