What is EigenLayer?
EigenLayer is a restaking protocol on Ethereum that lets stakers extend the cryptoeconomic security of their staked ETH to other decentralized services called Actively Validated Services (AVS). Launched on mainnet in mid-2023, EigenLayer represents an entirely new staking primitive: instead of just earning Ethereum consensus rewards, restakers can simultaneously secure data availability layers, oracle networks, cross-chain bridges, and other trust-requiring systems — and earn additional yield from each.
Users deposit stETH, rETH, or native ETH through EigenLayer's contracts. Operators opt into AVS services on behalf of stakers who delegate to them. Each additional AVS opted into increases potential yield but also exposes the restaked ETH to that AVS's slashing conditions. Risk and reward scale together.
Restaking mechanics and EIGEN token
The EIGEN token governs the EigenLayer protocol and is used for social consensus in resolving disputes that cryptoeconomic slashing cannot address — known as "intersubjective faults." Stakers who participate in EigenLayer natively restaking (running their own validator with EigenPods) get the highest yield and full control, but the technical bar is high.
Liquid restaking tokens (LRTs) such as eETH (ether.fi), pufETH (Puffer Finance), and ezETH (Renzo) abstract EigenLayer restaking into a simple deposit experience, similar to how stETH abstracts Ethereum staking. LRT depositors delegate their restaking exposure to the LRT protocol, which manages operator selection and AVS opt-ins.
- Restake native ETH, stETH, rETH, cbETH, and other LSTs
- Earn base staking APR plus AVS rewards on top
- EIGEN token provides governance and intersubjective security
- Operator delegation system separates stakers from technical node management
Risk profile: slashing and AVS exposure
EigenLayer introduces a new category of slashing risk. Each AVS defines its own slashing conditions, which may have nothing to do with Ethereum consensus. A bug in an AVS contract or a malicious AVS operator could slash restaked ETH independently of anything happening on the Ethereum base layer. Users should review each AVS's security model before opting in, or use a reputable LRT operator that does this analysis on their behalf.
As of early 2026, slashing on the base EigenLayer protocol has not been activated for live AVSs yet, but the contracts are live and the timeline for activation is public. This is a critical consideration: yields earned today do not yet carry full slashing risk; that changes when slashing goes live.
Yield expectations and points programs
EigenLayer yields are complex. The base layer returns Ethereum staking APR (3.5 to 4.5%). On top, each AVS pays its own reward token. Early participants also earned EIGEN points and AVS-specific points that converted to airdrops. Going forward, active AVSs like EigenDA pay restakers in their native tokens or ETH. Blended yields for active restakers through LRTs have ranged from 5 to 8% APR in the period immediately after EIGEN airdrop events, settling lower as more capital entered.
Who should use EigenLayer?
EigenLayer is for sophisticated stakers who want exposure to the leading edge of Ethereum's cryptoeconomic infrastructure and are willing to understand AVS-specific risks. It is not for users who want a simple, single-click staking experience. Native restaking via EigenPods suits validators already running nodes. Casual stakers who want the upside without the complexity are better served by depositing into a reputable liquid restaking token.
EigenLayer does not replace regular Ethereum staking — it extends it. The additional yield comes with additional slashing risk that stakers must actively manage.