The total value locked in EigenLayer was $11 billion at the beginning of March and increased by $4 billion in less than two months. In April, the protocol reached 115,000 unique users according to Dune Analytics. EigenLayer also announced the launch of the mainnet and introduced new functionality for operators and restakers in early April. This update granted users access to several new features and promised intra-protocol payments for this year.
Kannan, an assistant professor at the University of Washington, developed EigenLayer in 2021. The protocol is built on Ethereum and allows users to withdraw cryptocurrency and extend crypto security to new network applications such as bridges and oracles.
