UNCHAINED: Why EigenLayer May Be the Most Innovative New Ecosystem Since Ethereum
CoinDesk Podcast Network
Introduction
Exploring the advancements in blockchain technology including Polkadot, Eigenlayer, and restaking and their impact on the development of GameFi and DeFi applications.
Developer activity on EigenLayer has sprouted up extremely quickly, according to founder Sreeram Kannan and investor Olaf Carlson-Wee.
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Sreeram Kannan, founder of EigenLayer, and Olaf Carlson-Wee, founder and CIO of Polychain Capital, an investor in EigenLayer, say that the developer ecosystem around EigenLayer is sprouting up very fast, which reminds Carlson-Wee of the developer excitement in Ethereum’s early days.
They discuss the potential of EigenLayer, which uses a restaking mechanism to allow ETH stakers to reallocate their staked ETH and Liquid Staking Tokens (LSTs) to bolster security for other protocols. They cover how it could turbocharge Ethereum's rollup scaling roadmap and enable Ethereum to become a stack of decentralized software-as-a-service providers. Additionally, they discuss the potential risks associated with restaking as well as how EigenLayer could work with AI.
Show highlights:
- Sreeram's explanation of what EigenLayer is and what is allows on Ethereum
- Why Polychain invested in EigenLayer's seed round
- Why Sreerarm believes that there are not just going to be three modules in blockchains, but thousands
- The types of applications that can be built with actively validated services, according to Sreeram
- Why they both believe that EigenLayer will improve smart contracts
- Whether EigenLayer will help solve the liquidity fragmentation issue in Layer 2s
- What Ethereum inclusion guarantees are and why they are important
- The potential risks of EigenLayer and why Olaf doesn’t agree that EigenLayer results in rehypothecation
- How attribution claims work in EigenLayer, allowing for "elastic scaling of security"
- EigenLayer’s points program and the likelihood of a token
- Why Sreeram believes that an EigenLayer governance token wouldn't have the same issues as Lido's LDO
- Whether EigenLayer should be a core part of the Ethereum protocol itself
- How AI and EigenLayer intersect and how to have permissionless innovation in the AI space
Thank you to our sponsors! Polkadot
Guest |
Olaf Carlson-Wee, founder and CIO of Polychain Capital
Previous appearances on Unchained:
OG Olaf Carlson-Wee on Why His Crypto Thesis Is Stronger Than Ever
Olaf Carlson-Wee: 'If There Is a Money-Losing Exploit, the Money Is Gone'
Why The First Employee Of Coinbase Launched A Hedge Fund
To the Moon and Back With Polychain's Olaf Carlson-Wee
All Things Cryptoeconomics, Pt. 1, With Olaf Carlson-Wee and Ryan Zurrer of Polychain Capital
Sreeram Kannan, founder of EigenLayer
Previous appearance on Unchained: Do You Need to Think Twice Before Restaking Your Assets?
Links |
EigenLayer
Unchained:
What Is Ethereum Restaking? A Beginner's Guide
ETHDenver’s 2024 Hackathon: Onchain Security, AI, and Gaming Fun Dominate the Winning Projects
A16z, Binance Labs Make Investments in EigenLayer Ecosystem
Sreeram’s post on why “building on EigenLayer, therefore, doesn't negate the utility of an AVS token”
Points
DL News: Kelp DAO opens trading of the $340m EigenLayer airdrop market with KEP
CoinDesk: Omni Network Signs $600M Restaking Deal With Ether.Fi to Enhance Security
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Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.
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