CandleFocus EigenLayer enables restaking on Bitcoin: new incentives
2024-09-17
Author: Content Editor
EigenLayer, a restaking platform with a TVL of $10.8 billion, has added Bitcoin as an enabled asset for deposits through its collaboration with Threshold Network. This milestone allows for the first time economic incentives for network reassurance through restaking of Bitcoin. The addition of tBTC, a derivative of BTC on the Ethereum network, on EigenLayer opens up new investment opportunities in the Ethereum restaking sector. Users who deposit tBTC on EigenLayer earn a share of the governance coin of the Threshold project. The integration of tBTC on EigenLayer is a crucial step towards efficient portfolio management and offers diversification advantages. The ability of tBTC to bridge the Bitcoin and Ethereum ecosystems drives the development of the BitcoinFi ecosystem.
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