JUST IN: 🇦🇪 UAE's Central Bank approves the launch of a AE | CryptoMatrixx on Binance Square

Trending Articles

Bookmarked and Liked

--

JUST IN: 🇦🇪 UAE's Central Bank approves the launch of a AED stablecoin.

0 people tipped the creator.

Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.

297

0

Replies 0

Explore the latest crypto news

⚡️ Be a part of the latests discussions in crypto

💬 Interact with your favorite creators

👍 Enjoy content that interests you

Email / Phone number

Relevant Creator

@cryptoMatrixx

Explore More From Creator

--

ARB Add this to your spot holdings Expecting the same move on it as of SUI Can do 5x from here in the next one to three months $ARB

--

BTC 🚀 Exactly predicted the big upside move just before the actual move. Our insider calls are printing max but with max accuracy that no one else in this space have. Definitely you guys are going to miss big gains if you're not in the premium circle. 👁️ $BTC

--

--

I'm writing a brief note on EigenLayer. This won't be a deep dive or an economic analysis, but rather my personal take on the project, especially since our LPs have acquired a significant amount of EIGEN tokens. We've also analyzed one of the AVSs (currently raising a round) that is responsible for transaction validation. All AVSs on EigenLayer operate using a Shared ETH model. Essentially, users deposit ETH with an operator, and the operator distributes it among the AVSs. Most operators are working with more than five AVSs. This introduces a significant slashing risk. In my opinion, sooner or later, one of these AVSs will make a mistake, get hacked, or face some other issue, as the risk level is orders of magnitude higher than with native staking. And considering many users are also using liquid ETH the situation gets even messier. There's a lack of incentive to hold EIGEN tokens. From what I see, a lot of tokens are being dumped on exchanges. Who's buying them back? Perhaps EigenLayer itself. Apart from the airdropped EIGEN tokens, the AVSs themselves generate minimal profit (practically none), because there aren't any projects that are eager to "host" on EigenLayer. Why? Mainly because there’s no need for it, and every project prefers having its own token issued on an L1 like Ethereum or Solana. Will this change in the future? I think that's a big "if." Since there aren't any projects paying AVSs for “hosting” on EigenLayer, AVSs are now planning to issue their own tokens to raise funds (at insane valuations). But who needs these useless AVS tokens? That's unclear. I’m not here to predict the price of EIGEN or the fate of the entire EigenLayer ecosystem. But from what I’ve seen internally, there just aren’t any economic incentives to participate in the network (aside from the airdropped EIGEN). And there are no projects that really need EigenLayer at this point, for all the reasons mentioned above. That said, crypto is unpredictable, and the famous VCs backing this project might just help it grow into something significant.

--

Latest News

Doge Meme Shiba Inu Owner Reports Instagram Account Hacked

--

Immutable zkEVM Now Open To All Developers

--

Radiant Capital Faces Issues On BNB Chain And Arbitrum

--

Stripe In Talks To Acquire Fintech Platform Bridge

--

AI Startup Clay Seeks Funding At $1.3 Billion Valuation

--

Trending Articles

Ripple Vs SEC Appeal News: ChatGPT Says Case Won’t End If SEC Misses Deadline Today

How to Avoid the 7 Most Common Crypto Trading Mistakes

What to do if you Stuck in trade? # The

Bitcoiners should be wary of final dip 'before another leg up' — Analyst

🚨🚨Israel’s Strike on Iran Is Locked In – What’s Coming Next? 🚨🚨

Cookie Preferences

ba-one-trust-cookie