$ALT was just the beginning: Binance listing, Staking airdrops
EigenLayer revolution has a lineup of explosive protocol launches
Here are my top protocols to watch ๐๐งต
This thread was done in collaboration with @zeuuss_01
A hustler in finding gems and highly recommended to follow!
Restaking is one of the hottest trends, having accumulated over $1B of LST's in less than a year. All these accomplished even before going to mainnet.
Jul and Aug marks the dates where staking limits were adjusted. We can see that stETH and swETH tokenholders are leading the way.
The challenge faced is bootstrapping economic activity due to high costs and inefficient for many applications.
So, instead of building a network from the ground up, a project could opt-in into #EigenLayer.
This introduces capital efficiency and additional yield sources from the onboarded apps/services
At the expense of additional technical complexity (security risks) as well as risk of centralization
There are many protocols being build on Eigen, so this thread will focus on Rollups and AVS as I believe that more AVSes will launch to benefit from Ethereum's security.๐
๐ท Layer N ๐ท
@LayerN_Official is an Ethereum StateNetโA novel L2 designed as a network of custom and optimized Rollup Nodes powered by a shared state and liquidity layer. Layer N is designed with one mission in mind: to expand what's possible on-chain.
The Layer N StateNet, with optimistic operations and zk-fault proofs, are able to match the performance of many centralized systems, creating an on-chain rival to traditional networks.
Earn Airdrops from @SushiSwapโs own Layer 2 Perp DEX, @susa_ex + airdrops from@LayerN_Official
Notable achievements:
EigenDA Launch Partner
+100K TPS
Raised $5M seed round from Peter Thiel-backed Founders
๐ท Polymer Labs ๐ท
A project that caught my attention is @Polymer_Labs.
It plays into the modular rollup scene, using Eigen Layer for data availability and applying the Cosmos SDK for development.
@Polymer_Labs is one the potential projects that will have upcoming airdrops for $TIA stakers.
Polymer bridges Ethereum rollups to other blockchains, making ETH an access point to the growing interchain world. It links Eth's infrastructure to the IBC trade routes.
To better help you understand about Polymer.
Think of the following example:
ZK + Tendermint = ZKmint
Cosmos + Ethereum = @Polymer_Labs
And also the following analogy, where:
Polymer is powered by @Optimism to scale Ethereum
Farcaster is powered by @Optimism to scale Ethereum
Base is powered by @Optimism to scale Ethereum
Zora is powered by @Optimism to scale Ethereum
Notable achievements:
Secured $23M in Series A funding, led by Blockchain Capital, Maven 11, and Distributed Global, with support fro"m Coinbase Ventures and Digital Currency Group.
Get early access now
๐ท Lagrange ๐ท
Lagrange Labs is building the secure scale zero-knowledge proof based interoperability.
@lagrangedev is building an extensible infrastructure for sharing cross-chain security, called Lagrange State Committees.
Lagrange State Committees bring fast and provable one-block finality to any optimistic rollup through succinct zero-knowledge proofs
Extremely scalable: unbounded number of nodes
Langrange is another competitor to LayerZero and Hyperlane. It is a cross-chain infrastructure that enables the creation of generalized state proofs across all major blockchains.
Mantle is a major partner.
Notable achievements:
Raised $4M
Secured @LayerZero_Labs V2 Protocol as a Decentralized Verifier Network (DVN).
๐ท Witness Chain ๐ท
@witnesschain uses Eigenโs restaking for Proof of Diligence to verify rollup security, as well as for Proof of Location to establish physical node decentralization.
Witnessโs watchtowers runs into several narratives such as rollups, DePIN and AI coprocessors.
Witness chain watchtower network is the first line of defense for rollups.
With rollups, it is getting safer due to the decentralized watchtower network.
These watchtowers are:
Trustfree and reward-driven through Proof of Diligence
Decentralized through Proof of Location
Applications can be built on top through transaction tracers
Use case of these watchtowers include:
Offering quick finality and insurance for bridges.
Fill the trust gaps in blockchains by verifying parts of states which are missed by the core protocol
They have notable investors, including Polychain Capital, Dao5, Frontiers Capital, Robot Ventures
Twitter: https://twitter.com/arndxt_xo/status/1757380465772945739