Buidlers' Voice: In-depth Discussion on the Transformation of Ethereum Staking Landscape

The development of the cryptocurrency industry cannot do without the long-term efforts of builders. To delve into the stories and perspectives of these industry pioneers, an English podcast series called "Buidlers' Voice" has emerged. This series particularly focuses on outstanding leaders in the cryptocurrency field, aiming to explore the technological innovations of mainstream cryptocurrencies such as Bitcoin and Ether, as well as how other emerging technologies are changing the global economic system and the cryptocurrency market. At the same time, the program also addresses regulatory challenges faced by the industry, market trends, and how to cope with market fluctuations.

"Buidlers' Voice" is not only a platform for builders in the cryptocurrency industry to voice their opinions, but also a bridge connecting ordinary users with industry insiders, helping everyone to better understand this complex and fascinating field. This episode features Su Yang, the head of the Asia-Pacific region at Eigen Foundation, and here are some highlights from the conversation.

Host: Su, could you introduce the most important milestones achieved by Eigenlayer this year?

Su Yang: This year is a pivotal year for Eigenlayer, and we have three important milestones worth mentioning. First, we secured $100 million in Series A funding, which not only validates our strategy but also enables us to scale operations significantly. Second, we successfully launched the mainnet in April, allowing stakers to fully understand the actual operations of Eigenlayer. Finally, we introduced the EIGEN token, initially designed as a non-transferable token to ensure its secure use within the ecosystem.

Host: Can you explain the AVS ecosystem and its importance in the development of the Ethereum staking landscape?

Su Yang: AVS, or Active Validation Service, is a concept proposed by the founder of Eigenlayer. It allows protocols that require economic security guarantees to utilize our network, particularly proof-of-stake protocols. This means that any protocol needing such security guarantees can become part of our AVS ecosystem, making it highly diverse. For example, we have partners supporting rollup services, as well as some focused on key functionalities like data availability. The AVS ecosystem essentially creates a more secure and scalable environment for various projects.

Host: How does permissionless staking differ from the traditional Ethereum staking model?

Su Yang: Permissionless staking is a significant innovation for us. It allows more projects to utilize their native tokens for staking, creating a more vibrant and secure environment. Initially, we focused on ETH as the primary staking asset, but as the projects grew, we realized the need for greater flexibility. Now, ERC-20 tokens have been introduced as restakable assets, and we are expanding participation and enhancing the security of the AVS ecosystem.

Host: What challenges has Eigenlayer faced this year, and how have community and developer feedback influenced the project's roadmap?

Su Yang: One of our biggest challenges was managing community expectations and demands during the mainnet launch. We advanced the timeline, which increased the pressure, but with the strong support of our ecosystem partners, we successfully overcame these difficulties. The feedback from the community has been invaluable to us, emphasizing the importance of maintaining a close and supportive ecosystem.

Host: What significant updates, strategic partnerships, or development plans does Eigenlayer have in the next 6 to 12 months?

Su Yang: We plan to introduce programmatic incentives, expand token governance, and launch a reduction mechanism to enhance protocol security. In addition, we are preparing some exciting partnerships that will be announced soon. Our goal is to continue moving forward on a strong foundation, driving innovation and expanding our ecosystem.

User Q&A Session

Audience 1: Can you talk about the role of the Eigenlayer token in the ecosystem and what benefits long-term holders will receive?

Su Yang: Our token plays a key role in providing economic security and driving incentive mechanisms within the ecosystem. Long-term holders can earn rewards by staking tokens and participate in governance decisions. The purpose of designing the token is to ensure that holders are not just investors, but active contributors to the ecosystem.

Audience 2: What measures has Eigenlayer taken regarding the security of staked assets on Ethereum?

Su Yang: We mainly focus on smart contract risks and the slashing mechanism. Currently, the slashing mechanism of Eigenlayer has not been launched but will be introduced in future updates. The staked assets are locked through smart contracts to ensure their security.

Audience 3: Do you have plans to launch an ambassador program? If so, how can one participate and become an ambassador for Eigenlayer?

Su Yang: Yes, we are planning to launch an ambassador program, with details expected to be announced in the next one to two months. This program will provide opportunities for those who wish to actively participate in our ecosystem and help promote Eigenlayer. Please follow our official channels for more information.

Audience 4: How does Eigenlayer view the potential of the Asian market? Are there plans to expand into other countries with significant cryptocurrency market potential?

Su Yang: The Asian market is very important to us, and we are designing plans that are more suitable for this region. We hope to see more developers, ecosystem supporters, and advocates of Eigenlayer emerging from this area. The ambassador program will be part of our efforts, but we are also considering more ways to collaborate closely with the communities in the Asia-Pacific region.

Host: Thank you for Su's sharing. Clearly, Eigenlayer is at the forefront of innovation in Ethereum staking. We look forward to the arrival of these developments.

Su Yang: Thank you! I'm glad to share our journey, and I am full of hope for the future. Thanks to everyone who participated today.