EigenLayer Testnet is live: supports re-staking of stETH and rETH New validators can stake ETH

EigenLayer Testnet Launch: Supports re-staking of stETH and rETH

EigenLayer, as an Ethereum re-staking protocol, recently completed a funding of 64.4 million USD. The project has just launched its first Testnet version, supporting the re-staking of stETH and rETH test tokens, as well as the re-staking of ETH by new validators on the Testnet. This article will introduce how to perform re-staking and withdrawal operations of stETH and rETH on the Testnet.

Ethereum Re-staking Protocol EigenLayer Testnet Tutorial

Get Testnet Tokens

First, users need to obtain some ETH test tokens on the Goerli Testnet. Then they can convert Goerli ETH into stETH and rETH test tokens in the following ways:

  1. Switch to the Goerli Testnet in your Metamask wallet and use the send feature to transfer Goerli ETH to the specified address to receive stETH test tokens.

  2. Similarly, on the Goerli Testnet, stake Goerli ETH through a certain testing platform to obtain rETH test tokens.

  3. Add the corresponding token contract address in Metamask.

Re-staking and Withdrawal on EigenLayer

After completing the above steps, users can access the EigenLayer Testnet website and connect their Metamask wallet. The specific operations are as follows:

  1. Choose rETH or stETH, click "Deposit" and enter the amount to stake, then confirm the transaction through the wallet.

  2. On the application homepage, users can view their re-staking points, which depend on the stake amount and duration.

  3. To withdraw, select rETH or stETH, click "Unstake" and enter the withdrawal amount, then confirm through your wallet.

It is important to note that after canceling the stake, you need to wait for 7 days. After 7 days, click withdraw again and confirm through the wallet to complete the operation.

Ethereum Re-staking Protocol EigenLayer Testnet Tutorial

EigenLayer Project Introduction

EigenLayer aims to address the trust gap between blockchain and decentralized applications. Currently, various ecosystems incur high costs to maintain security. For example, the Ethereum Beacon Chain needs to provide a 3.9% annual yield for stakers to maintain the existing staking scale.

EigenLayer allows users to re-stake funds into middleware, oracles, and other decentralized applications beyond the PoS stake of ETH. This not only improves the efficiency of fund usage but also ensures the security of the Ethereum network and various protocols.

With the launch of the Testnet, EigenLayer is taking significant steps towards realizing its vision, promising more efficient capital utilization and stronger security for the Ethereum ecosystem.

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NoodlesOrTokensvip
· 08-06 01:40
This is really another copycat project of web3.
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BlockchainGrillervip
· 08-05 02:14
Cannot grab the test coin at all.
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BrokenDAOvip
· 08-05 01:52
Another project jumping into the re-staking pit... Isn't anyone discussing the lock-up period and trust cost?
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ProbablyNothingvip
· 08-05 01:49
Finally, there's a chance to get to the front row. Let's go!
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