EigenLayer testing permissionless token support, ERC-20 tokens to be added as restakable assets

Ethereum restaking project EigenLayer is adding permissionless token support on the protocol.

"This feature will enable any ERC-20 token to be added as a restakable asset," Eigen Labs said in a post to X, adding that the move will expand "the scope of assets that can contribute to the security of decentralized networks" and unlock "the cryptoeconomic security of unlimited ERC-20 tokens" on the EigenLayer protocol.

After an initial "testing phase" on the testnet, Eigen Labs said it will initiate a mainnet deployment next week. "User Interface support for restakers will be added later in Q3," the company also said.

Earlier this year, venture capital firm Andreessen Horowitz invested $100 million in Eigen Labs, the core development team behind the EigenLayer protocol. The project's total value of assets is currently over $12 billion, according to DefiLama.

EigenLayer's protocol allows users to re-stake validators' ether stakes natively or via liquid staking tokens, allocating those funds to economically secure third-party protocols.