Coinbase Adds EigenLayer (EIGEN) Reststaking Project to Its Roster of Potential Upcoming Listings

Top US crypto exchange Coinbase has added a yet-to-be-launched Ethereum (ETH) restaking project to its roster of potential upcoming listings.

Major US crypto exchange Coinbase has included an upcoming Ethereum (ETH) restaking project in its lineup of potential future listings.

Coinbase announced in a statement that EigenLayer (EIGEN) has been added to its listing roadmap, a tool used by the exchange to ensure transparency and prevent insider trading on coins before they are listed.

EigenLayer aims to provide restaking services for ETH stakers. Users who stake ETH can join EigenLayer and rehypothecate their coins on its network for use in other applications.

The introduction of restaking and other liquid staking derivatives allows users to stake their coins without sacrificing other opportunities, increasing the token’s capital efficiency and value accrual.

According to Consensys, an Ethereum development firm, EigenLayer could enhance Ethereum’s fee model.

“In short, this model creates a flow of value that grows along with the network: Ethereum supplies security to all of the different DApps built on top of it, and in exchange, these DApps send fees back to Ethereum. The fundamental limiting factor of Ethereum’s model is that it is entirely exclusive to EVM (Ethereum Virtual Machine) compatibility. Enabling new protocols to participate here, rather than building their own pool of security, helps keep value flow locked within Ethereum and helps drive more revenue back to the network.”

According to Coinbase’s pre-launch market data, EIGEN perpetual futures contracts are trading at $3.98.

The Eigen Foundation, the organization behind EigenLayer, announced on the social media platform X that EIGEN tokens will become transferable on September 30th.