EigenLayer TVL soars after deposit cap removed

EigenLayer’s TVL almost doubled in the past 24 hours, according to information available on DeFiLlama

article-image

EigenLayer and Adobe Stock modified by Blockworks

share

Following its decision to temporarily remove total value locked (TVL) caps for all tokens, restaking protocol EigenLayer has seen deposits on its network soar. 

According to information available on DeFiLlama, EigenLayer’s TVL almost doubled in the past 24 hours, from $2.16 billion to $3.84 billion at the time of writing.  

Loading Tweet..

Unlike traditional proof-of-stake blockchains that issue their own tokens which validators can then use to secure the network, EigenLayer’s security model relies on an open marketplace, where validators can choose to opt into Actively Validated Services (AVSs) of their choice. 

This means that users can participate in securing EigenLayer by depositing their already natively staked ETH or liquid staked ETH into the network’s smart contracts, subjecting them to slashing conditions for extra rewards. 

Validators also have the option to restake liquid provision tokens — this not only allows them to extend economic security but also enables users to earn additional rewards on their tokens that may be sitting idly in DeFi protocols. 

Read More: EigenLayer deploys restaking protocol on Ethereum mainnet

Caps on TVL were introduced on EigenLayer as a method to promote decentralization and prevent one single token from dominating and engaging in harmful activities.

TVL caps have been temporarily lifted between Feb. 5 and Feb. 9, with plans to lift the caps permanently in the near future. This decision will come hand in hand with limiting governance participation for any liquid-staked token or liquid-staked token to 33%. 

There are currently 10 active liquid staking protocols on EigenLayer, according to DeFiLlama. The current largest liquid staking protocol is ether.fi, which has a TVL of $785 million,  Puffer Finance comes in second with a TVL of $476.12 million and Kelp DAO follows closely behind with a TVL of $325.86 million.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research

article-image

Bitcoin needs a price, but its magic runs deeper

article-image

Circle had a pretty successful first day of trading, but what’s next for the stablecoin issuer?

article-image

Solana’s USDC caught a boost after being paired with the TRUMP memecoin

article-image

The stablecoin issuer’s successful first day of trading is likely to spur more crypto IPOs, industry watchers say

article-image

Job openings rallied and continuing claims stalled ahead of May’s employment report

article-image

A group of Twitch streamers battle for bitcoin. Will their chats help them?