EigenLayer TVL exceeds $15b after lifting restrictions on pool limits

The total value of locked funds in the EigenLayer restaking protocol exceeded $15.1 billion.

According to DefiLlama, the project team lifted restrictions on pool limits, which caused a noticeable increase in total value locked (TVL). This figure was $11 billion at the beginning of March, increasing by $4 billion in less than two months.

EigenLayer’s TVL still needs to be improved to reach Lido Finance’s liquid staking protocol, which sits at $29.6 billion.

In April, EigenLayer reached 115,000 unique users, according to Dune Analytics. In early April, the protocol announced the launch of the mainnet and introduced functionality for operators and restakers. Users now have access to several new features. In addition, this year, the developers promised to launch intra-protocol payments.

EigenLayer founder Sreeram Kannan said the protocol increases the utility of Ethereum and provides economic security to the asset.

Kannan, an assistant professor at the University of Washington, developed the protocol in 2021. It is based on Ethereum and allows customers to withdraw cryptocurrency and extend crypto security to new network applications such as bridges and oracles.