Airdrop Crypto: how to farm EigenLayer on Ethereum?

Airdrop Crypto: how to farm EigenLayer on Ethereum?

Protocol last June EigenLayer made noise on Ethereum during its launch. Shortly after, she introduced a point system to her protocol, so many observers considered the airdrop. Let’s explore how to position yourself for a potential EigenLayer drop.

EigenLayer: a recovery paradigm

Custom layer arrived at Ethereum with a proposal that is surprising to say the least: reassessment. Restaking is an advanced form of staking that consists of reuse staking tokens to secure other networks, kut while maintaining betting rewards.

EigenLayer, for its part, serves as a security marketplace. So the platform offers access to the staked capital of ETH as well as a set of decentralized validators.

In addition, EigenLayer is evolving EigenDAchannel specializing in data availability.

In parallel, EigenLayer launched a point systemwhich allows quantify each user’s participation in terms of recounting.

“Recovered points are a measure of your contribution to the shared security of the EigenLayer ecosystem. This is a bet participation rate equal to the bet amount integrated over time. »

Many see a method behind this system calculate the allocations of the future landing party. Let’s not miss this opportunity and dive into EigenLayer.

Position yourself for the EigenLayer drop

Assumptions

To stand up for this potential drop, you’ll need to have a Ethereum walletas MetaMask. You must too have ETH on Ethereum. To do this, buy some on your favorite exchange platform or make a deposit from another chain via bridge.

Attention, this tutorial takes place on the Ethereum mainnet where transaction fees can be very high. So only participate if you have enough funds to amortize the transaction costs.

Get the LST

To use EigenLayer you must to have LST, namely the Liquid Staking Token. This is a liquid token representation of an Ethereum deposit. For example logs Lido Or Inflate enable Liquid Staking.

To do this, you have two options:

  • Exchange your ETH for one of these LST tokens on DEX, such as 1 inch;
  • Go mint LST tokens directly on the protocol. For example, store ETH against swETH on the Swell protocol.

Here is the list of LSTs supported by EigenLayer:

List of LSTs supported by Eigenlayer

Restake on EigenLayer

Once the LST token is in your possession, you can go to restake section Eigenlayer : https://app.eigenlayer.xyz/.

Select LST to file and  on “Deposit”. In our case we saved swETH.

Send LST to Eigenlayer.

Once your funds are resacked, you will start earning “Restored Points”.

If deposits are suspended, wait until January 29 that EigenLayer teams cancel pool limits.

Well done, you’re ready to generate EigenLayer points and position yourself for a potential drop in the coming months! You can also generate EigenLayer points through another Liquid Staking protocol, namely EtherFi. And that’s good, he could also distribute the parachute.

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