EigenLayer Surpasses $750 Milion TVL

The milestone follows an increase in EigenLayer's deposit limit for LSTs.

EigenLayer Surpasses $750 Milion TVL

Quick Take

  • EigenLayer surpasses $750 million TVL.
  • Succinct Labs introduces Tendermint X.
  • bloXroute’s MEV Relay censors OFAC transactions.
  • NFT Trader contract suffers an exploit.

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EigenLayer Surpasses $750 Milion TVL

EigenLayer's TVL surpassed $750 million following an increase in its deposit limit for LSTs. The protocol now holds over 280,000 ETH in LST deposits, with an additional 74,000 ETH from native restakers. The raised caps permit up to 200,000 ETH in deposits for each LST, with a global deposit limit of 500,000 ETH. The expansion was accompanied by the support of six new LSTs, including Swell's swETH, Stakewise's osETH, and Stader’s xETH. Lido's stETH constitutes the majority of the TVL, with over 162,000 stETH deposits. EigenLayer is an Ethereum restaking protocol, enabling stakers to contribute to the security of other networks by allocating their stakes to participating operators.

Succinct Labs Introduces Tendermint X

Succinct Labs introduced Tendermint X, an open-source light client leveraging Tendermint ZK to enable a trust-minimized ZK bridge that connects Cosmos and Ethereum. Tendermint X is designed for gas efficiency. The release allows developers to rapidly deploy smart contracts and circuits on the Succinct platform. Succinct Labs is using Tendermint X in its Blobstream X project, which integrates Celestia DA into Ethereum. According to Succinct Labs, Tendermint X can generate proofs in 4 minutes. Succinct is a platform designed for ZK application development, offering a range of developer tools and a standardized proof protocol.

bloXroute MEV Relay Blocks OFAC Addresses

bloXroute announced that its MEV relay will no longer include transactions involving addresses listed on the OFAC’s SDN list. bloXroute, which previously offered a non-censoring relay, cited regulatory compliance as the reason for the change. An MEV relay acts as a mediator between validators and block builders in transactions. As a block builder, bloXroute's role involves assembling transaction bundles into blocks and then proposing the blocks to validators for inclusion. Validators who prefer to process blocks without censorship are encouraged to transition to non-censoring relays such as Manifold, Ultra Sound, and Wenmerge relays.

NFT Trader Suffers Exploit

NFT Trader, a peer-to-peer NFT swap protocol, suffered an exploit on its smart contracts. The exploit allowed attackers to drain NFTs from users who had granted open approvals. Nearly $3 million worth of NFTs, including Bored Ape Yacht Club and Pudgy Penguins NFTs, were drained by attackers. Boring Security, a security team funded by ApeDAO, successfully negotiated the return of the stolen NFTs from an attacker in return for a 10% bounty.

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