Coinbase Adds Ethereum Restaking Project EigenLayer to Potential Listings

Coinbase, a major U.S. crypto exchange, has added a new Ethereum (ETH) restaking project to its list of possible future listings.

The exchange revealed that EigenLayer (EIGEN) has been placed on its listing roadmap, a system designed to promote transparency and prevent insider trading ahead of coin listings.

EigenLayer offers a service for ETH stakers, allowing them to restake their ETH. By participating in EigenLayer, users can rehypothecate their staked ETH to use on other platforms and applications.

Restaking and liquid staking derivatives enable users to stake their tokens while still taking advantage of other investment opportunities, thereby boosting capital efficiency and enhancing the token’s value.

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Consensys, an Ethereum development firm, believes EigenLayer could enhance Ethereum’s fee structure. Their model suggests that Ethereum provides security to decentralized apps (DApps), which in return send fees back to the network. Including new protocols in this system, instead of requiring them to build their own security, could help keep value within Ethereum and increase network revenue.

Coinbase’s pre-launch market data indicates that EIGEN perpetual futures contracts are trading at $3.98. The Eigen Foundation, which oversees EigenLayer, announced on the social platform X that EIGEN tokens will become transferable on September 30th.

Kosta Gushterov