Slashing Goes Live on EigenLayer, Final Upgrade Arrives

This update marks the final step toward a complete version of its Ethereum ETH $1,565.92 -based restaking protocol. In a post shared on April 2, the team said slashing is implemented to support a network of services built on what it refers to as a "Verifiable Cloud".

Users will be able to join the slashing system by choice, which gives them time to adjust. Slashing has only been tested in limited environments and was not part of the main system.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Tezos? XTZ Cryptocurrency Easily Explained (ANIMATED)

SUBSCRIBE

ON YOUTUBE

EigenLayer, launched in 2023, allows people to reuse already-staked tokens to secure other applications. This process is called restaking, which gives users the chance to earn more rewards by supporting multiple systems at once.

In a blog post from April 3, the team explained:

If Operators do not meet the conditions set, the Actively Validated Service (AVS) may penalize them. But, if the Operator runs the service successfully, AVSs can reward the Operator’s performance and incentivize specific activity.

AVSs are projects that use the platform’s restaked tokens as collateral. Over 30 AVSs are already active on EigenLayer, with more in development. Among them are EigenDA, created by Eigen Labs, and ARPA Network, which offers tools for random number generation.

Meanwhile, Starknet, an Ethereum-based Layer 2 network, recently announced plans to boost Bitcoin's BTC $78,778.04 speed and reduce its fees. How? Read the full story.