30s Summary

P2P.org, an operator for EigenLayer, plans to lure more restakers with a program sharing revenue, as competition and payouts grow. P2P, the largest Ethereum restaking platform, has over $11 billion in restaked assets; it handles more than $475 million. Offering rewards for restakers in their own EIGEN token, P2P also stakes other currencies, with $7.5 billion in total value locked. Restakers who joined P2P before 15 August will be included in the revenue-sharing scheme. EigenLayer aims to attract users after the 1 October release of EIGEN tokens, with EIGEN token rewards for restakers making up about 4% of total supply.

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P2P.org, an operator for EigenLayer, is planning to attract more restakers with a new program that shares revenue. This comes as competition increases, particularly with expectations of higher restaking payouts. As noted by P2P on October 16, the company will offer extra rewards for restakers via “programmatic incentives”, which will be paid out in EIGEN, their own native token.

P2P is boldly leading the way with this new incentive program for staking validators, just as others are getting set to launch their own reward schemes. This move comes from the largest restaking platform for Ethereum, EigenLayer, which secures lots of third-party protocols – these are known as actively validated services (AVSs) – and holds over $11 billion in restaked assets.

Restaking means you take a token that has already been staked and use it to secure other protocols as well. P2P, one of the largest professional validators among EigenLayer’s operators, is handling over $475 million of these restaked assets.

P2P isn’t exclusively about staking with their native token – they also deal with staking other currencies such as Bitcoin and Ether, with a hefty $7.5 billion locked in total value. However, they’re not alone in this business, as there are many rival operators like Figment, BlockDaemon, and Ankr who offer similar services.

And there’s some good news for those restakers who joined P2P prior to August 15, as they’ll be included in this revenue-sharing program according to P2P’s statements.

Currently, EigenLayer is working hard to attract more users after their EIGEN token’s recent unlock on October 1. Founder Sreeram Kannan shared that this unlock event was one of the most awaited in 2024 and now there’s a pressing need for EigenLayer to boost their revenues from AVSs for the benefit of the EIGEN stakers.

The planned programmatic incentives of EigenLayer will generously reward restakers with EIGEN tokens making up about 4% of the total supply. As Kannan explains, the rewards for stakers will vary depending on the number of AVSs they serve. The more AVSs stakers work with, the more fees they’ll receive helping increase the value of their holdings.

Source: Cointelegraph