The EigenLayer Foundation announced a new rewards program for stakeholders and operators who secure Actively Validated Services.
Details in the a blog postEthereum is a cryptocurrency (ETHRestaking Protocol will also introduce a new incentive programme that offers 4% EigenLayer total supply (EIGEN).
EigenLayer Foundation announces rewards-boost program
EigenLayer combines different protocols for restaking, while stakers and AVS operators secure AVSs with restaking. ETH. They receive in return staking rewards.
It will be the very first time that stakers, node operators and AVSs directly reward tokens to AVSs using the EigenLayer protocol.
In addition, recipients will receive 4% of their supply through “rewards boost” As part of EIGEN’s new programmatic incentive program.
Stakeholders and operators in this situation will be rewarded proportionally to the distribution of AVSs. This means that, as a participant in the network supports more AVSs, they will receive more tokens from the EigenLayer Foundation.
“The goal of this design is to incentivize AVSs to begin distributing rewards to stakers and operators early, to benefit from and obtain a larger share of the early EIGEN programmatic incentives,” Read the entire blog.
The program is also open to new AVSs
EigenLayer has plans to support AVSs who may not have yet the capability to distribute rewards the first day. Even if AVSs are not able to distribute rewards on the first day, Stakers or operators who support them will receive EIGEN in small amounts.
The ‘rewards floor’ will be available outside the main rewards boost to allow every genuine AVS to allocate some rewards to its stakers and operators. EigenLayer believes this is a good way to encourage the addition of new services that are actively verified.
Programmatic incentives will begin in the next months, but AVS rewards is scheduled to launch within the next weeks.
EigenLaye launched their contracts for the mainnet June of last year and has since seen more than 4.8 million EIGEN and 108 millions ETH restated. The AVSs are launched by 16 and there are over 300 operators.
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Source: crypto.news
