EigenLayer announced expanding its staking prospects by elevating caps on LSTs (Liquid Staking Tokens.)
The latest upgrade will enhance users’ access to staking while maintaining utmost asset security and safety. Achieving such an update requires approval from the Multisignature Governance system.
On June 20, EigenLayer stated that its Operations multisig transaction to increase the caps is queued in a 10-day timelock. It will ensure compliance with security measures and governance processes.
Once the timelock is over, Operations Multisig must trigger the action from the contract. Operations Multisig has been assigned accountable for monitoring the protocol’s daily procedures and operations.
After triggering the action, Operations Multisig will start the parameter modifications in the Executor Multisig. Resultantly, the multisig will be able to take the caps off at any moment. EigenLayer has assured users about sharing updates on its official Twitter account, Discord channel, and website.
The caps are expected to be raised by July 10, 2023. After that, the caps for Liquid Staking Tokens, such as cbETH, stETH, and rETH, will be raised to 15k tokens per LST without any individual deposit limit.
After the overall total of LST deposits reaches 30k tokens, a worldwide pause on LST restaking will commence. The massive increase in the capacity will allow users to seamlessly partake in upcoming staking opportunities.
At the same time, the protocol keeps native staking uncapped to help users to create and link EigenPods to multiple validators. EigenLayer has once again showcased its commitment to decentralization and network security.
The protocol aims to establish a robust ecosystem where users can easily and securely restake their assets. The latest post by the platform has also shed light on its upcoming endeavors, such as Q3 Operator Testnet, Q4 AVS Testnet, and Continuous Security Measures.