P2P.org promotes revenue share as EigenLayer operators vie for redeployment opportunities.

EigenLayer operator P2P.org is introducing a revenue-sharing program to attract restakers as competition intensifies before the planned resumption of payouts, according to a statement from P2P.org on Oct. 16.

In September, EigenLayer announced plans to enhance rewards for restakers with incentives denominated in EIGEN, the protocol’s native token.

P2P.org stated on Oct. 16 that their new revenue initiative is the first of its kind to be launched by a staking validator, as other infrastructure providers prepare to unveil their own incentive programs.

EigenLayer, as Ethereum’s largest reinvestment platform, secures over $11 billion in reinvested collateral for various third-party protocols, known as actively validated services (AVSs), according to DefiLlama.

Redemption involves using a previously staked token as collateral with a validator to earn rewards, while also securing other protocols simultaneously.

As of October 15, P2P.org, the largest professional validator for EigenLayer, is responsible for over $475 million in reinvested collateral and supports staking for assets like Bitcoin (BTC) and ether (ETH), with a total value of $7.5 billion (TVL).

P2P.org competes with numerous other operators, including staking-as-a-service providers like Figment, BlockDaemon, and Ankr.

The revenue-sharing program is applicable to restakers delegated to P2P.org before August 15, according to the company.

EigenLayer will focus on user onboarding after the EIGEN unlock on October 1, as founder Sreeram Kannan mentioned in an interview with Cointelegraph.

The OWN unlock was highly anticipated in 2024 and puts pressure on EigenLayer to increase protocol revenue from AVSs, benefiting EIGEN stakers.

EigenLayer’s programmatic incentives will reward restakers with EIGEN emissions equivalent to approximately 4% of the token’s total supply.

Kannan stated, “Stakers will receive programmatic rewards based on the number of AVSs they operate, and AVSs will pay fees to stakers and operators. The more AVSs pay, the more value is provided.”

SOURCE

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top