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Modular Chains

The EigenLayer Question

Apr 26, 2024 ⋅  9 min read

EigenLayer is a marketplace for decentralized trust and security. It enables Actively Validated Services (AVSs) to secure their services by utilizing a subset of Ethereum’s decentralized validator network and its high-quality staked capital. It has quickly grown to become the largest protocol by TVL across all chains and platforms (excluding LSTs), with $14 billion in ETH restaked. However, with great expectations comes great responsibility. Will EigenLayer live up to it?

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Kunal previously worked in equity research and now considers himself a financial analyst in crypto. He specializes in valuation and bottom-up analysis for Layer-1 and DeFi protocols because he has yet to learn of a way to value NFTs.

Prior to joining Messari, Seth worked in traditional finance software and services, and has a MSc in Applied Mathematics. Seth is a Senior Research Analyst on the Enterprise Research team, and focuses on infrastructure, verifiable compute, and the AI x Crypto intersection.

Nikhil is a Researcher focused on Web3 Infrastructure and Decentralized AI. Previously he was leading BD at Upshot and prior to that was working on growing Avalanche at Ava Labs.

Mentioned in this report

About the authors

Kunal previously worked in equity research and now considers himself a financial analyst in crypto. He specializes in valuation and bottom-up analysis for Layer-1 and DeFi protocols because he has yet to learn of a way to value NFTs.

Prior to joining Messari, Seth worked in traditional finance software and services, and has a MSc in Applied Mathematics. Seth is a Senior Research Analyst on the Enterprise Research team, and focuses on infrastructure, verifiable compute, and the AI x Crypto intersection.

Nikhil is a Researcher focused on Web3 Infrastructure and Decentralized AI. Previously he was leading BD at Upshot and prior to that was working on growing Avalanche at Ava Labs.

Mentioned in this report