EigenLayer

EigenLayer is a restaking protocol on Ethereum that lets stakers repurpose their staked ETH (native or via LSTs) to provide cryptoeconomic security to additional services called Actively Validated Services (AVSs). Operators run AVS software and register on-chain; stakers delegate their restaked assets to operators. If an operator misbehaves, both the operator and their delegators can be slashed. This creates a shared security marketplace where new protocols bootstrap validator sets without requiring their own token stake.

What You Probably Got Wrong

• EigenLayer is NOT a liquid staking protocol -- it is a restaking protocol. You stake assets that are ALREADY staked (LSTs like stETH, rETH, cbETH) or native beacon chain ETH to provide security to AVSs. EigenLayer does not issue a liquid receipt token for your deposit.
• Restaked assets are NOT locked permanently -- there is a withdrawal escrow period (currently 7 days for the minWithdrawalDelayBlocks parameter) to allow slashing to be processed before funds are released. You queue a withdrawal, wait, then complete it.
• Operators and Stakers are different roles -- Operators register on-chain and run AVS node software. Stakers deposit assets and delegate to an operator. Stakers bear slashing risk proportional to their delegation if their chosen operator misbehaves.
• Delegation is all-or-nothing per operator -- you delegate ALL your restaked assets across ALL strategies to ONE operator. You cannot split delegation across multiple operators. To diversify, use separate addresses.
• EigenLayer contracts use upgradeable proxies -- always interact with proxy addresses, never implementation addresses. The implementation behind a proxy can be upgraded by the EigenLayer governance multisig.
• Native restaking requires an EigenPod -- each restaker deploys a unique EigenPod contract. Your Ethereum validator's withdrawal credentials must point to this EigenPod address. This is a one-time setup per address.
• queueWithdrawals() starts the delay, completeQueuedWithdrawals() finalizes -- these are two separate transactions. You cannot withdraw in a single step. The withdrawal root must exist and the delay must have elapsed.
• Rewards are distributed via RewardsCoordinator -- AVSs submit reward roots, and stakers/operators claim via Merkle proofs. Rewards do not arrive as direct token transfers to your address.
• Slashing is real and live -- since the SLASHING upgrade, AVS operators can be slashed for misbehavior via the AllocationManager. Delegated stakers bear proportional losses. Evaluate operator track records before delegating.
• Strategy deposit caps exist -- each strategy (stETH, rETH, cbETH, etc.) may have a maximum total deposit cap. When the cap is reached, new deposits revert. Check getTVLLimits() on the strategy before depositing.

Quick Start