Via a tie-up with Nuffle Labs, EigenLayer is now officially extending beyond Ethereum L1.
Restakers will be able to restake their assets on their home chain and get rewarded natively.
Background
- After amassing $13 million in funding earlier this year, NEAR Foundation put to sea Nuffle Labs
- As a separate entity, Nuffle Labs intends to extend NEAR's modularity
- Nuffle Labs has now started building Nuff Protocol — a permissionless platform to enable AVSs leverage security from any blockchain
- The team has tapped on EigenLayer for settlements and accounting
Why should you pay attention?
- The staking marketplace is ever-evolving and the Nuff Protocol is looking to democratize that
- EigenLayer’s core capabilities will be bolstered and extended to new ecosystems
- Counterparty risk will be slashed down because users don’t have to lean on bridged assets
- Using native assets will retrospectively check the safety box too
- AVSs will be able to optimize their security costs
Who said what?
- Recalling where it all started, Firat Sertgoz, the Co-founder and Junior Tech Officer at Nuffle Labs said that when he and his team were developing the fast finality layer, they intended to “grab security from multi-chain native assets,” and based on the state root attested, “reward restakers accordingly”
- Commenting on the latest collaboration, he asserted,
“Infinite sum games are the only way to bring the industry to the next stage”
- Emphasizing the essence of the tie up, Altan Tutar, the Co-Founder and CEO of Nuffle Labs said,
“We have not been more blessed to work with the stellar teams at the Eigen Foundation & Eigen Labs to turn the vision of "restake from anywhere, reward from anywhere, accounting on EigenLayer" into reality”
Zooming out
The Nuff Protocol seems to be on track to make the restaking economy more accessible. The latest development, though promising, is yet to pass the test of time and check all its ambitious boxes. Nevertheless, the endeavor is still unfurling and Nuffle Labs seems to be off to a flying start.
