EigenLayer’s TVL has increased to $20.09 billion, marking it as the second-largest DeFi protocol behind Lido.
The total value locked on restaking protocol EigenLayer has reached $20.09 billion, marking it as the second-largest DeFi protocol behind Lido. Since the beginning of the year, the protocol's TVL has grown from $1.4 billion to $20 billion , The Block data shows.
EigenLayer is a restaking protocol that aims to allow users to deposit ether and various liquid staking tokens to help secure third-party networks. Its mainnet was rolled out in April. The Eigen Foundation later expanded airdrop allocations for all users and clarified the timeline of token unlocks and their transferability, which helped alleviate concerns. This change was followed by increased inflows. Notably, May 31 witnessed a significant spike in inflows — with more than half a billion in deposits made on the platform, according to The Block's data on daily net flows.
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