You can earn EIGEN tokens on EigenLayer through two main methods: restaking and staking.
1. Restaking: If you already have staked ETH or hold liquid staking tokens (LSTs), you can restake them on EigenLayer. This involves depositing your staked assets into EigenLayer’s smart contracts. By doing this, you secure various services and protocols within the network, earning EIGEN tokens as rewards. The supported LSTs include stETH (Lido), rETH (Rocket Pool), and more. You simply connect your wallet to the EigenLayer platform, choose the restaking option, and select the amount you want to restake.
2. Staking: You can directly stake EIGEN tokens to secure Actively Validated Services (AVS) on EigenLayer, like EigenDA, a data availability service. After obtaining EIGEN, connect your wallet on the EigenLayer platform, select the staking option, and specify the amount to stake. Staking EIGEN helps secure the network and earn rewards. If you prefer, you can also delegate your staked EIGEN to operators like Everstake, allowing them to manage your stake while you earn rewards.
Always ensure you understand the risks involved, such as potential slashing, before participating in these activities.