Coinbase, a major U.S. crypto exchange, has added a new Ethereum (ETH) restaking project to its list of possible future listings.
Major U.S. crypto exchange Coinbase has added a new Ethereum (ETH) restaking project to its list of potential future listings.
The exchange disclosed that EigenLayer (EIGEN) has been included in its listing roadmap, a system designed to promote transparency and prevent insider trading ahead of coin listings.
EigenLayer provides a service for ETH stakers, enabling them to restake their ETH. By participating in EigenLayer, users can rehypothecate their staked ETH to use on other platforms and applications.
Restaking and liquid staking derivatives allow users to stake their tokens while simultaneously utilizing them for other investment opportunities, boosting capital efficiency and enhancing the token’s value.
Consensys, an Ethereum development firm, believes EigenLayer could improve Ethereum's fee structure. Their model suggests that Ethereum provides security to decentralized applications (DApps), which in turn send fees back to the network. By including new protocols in this system, rather than having them build their own security, value can be retained within Ethereum and network revenue can increase.
Coinbase’s pre-launch market data shows that EIGEN perpetual futures contracts are trading at $3.98. The Eigen Foundation, which governs EigenLayer, announced on the social platform X that EIGEN tokens will become transferable on September 30th.
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