Overload, a re-pledge protocol similar to EigenLayer, appears in the Base ecosystem! Any ERC-20 token can be pledged

This site (120BTc.coM): Overload, a re-pledge protocol similar to EigenLayer, appears in the Base ecosystem. Its highlight is that it can pledge any ERC-20 tokens and is not limited to ETH. On the other hand, This agreement will also not reduce the number of node operators, further reducing the asset risk of re-pledgers.

Re-pledge introduction

Re-pledge refers to staking the liquid pledge token (LST) again. In addition to protecting the main network, it can also protect other external networks. For example, users can choose to pledge ETH to the Lido protocol to protect the security of the Ethereum network, and pledge their pledge-proof token stETH to EigenLayer to protect more other networks and obtain higher returns.

EigenLayer is the first re-staking protocol that uses node operators to manage stakers’ tokens and help protect the security of external network projects. The latter is also called actively validated services (AVS).

At present, the TVL of this agreement has reached more than 16 billion US dollars, and there are already nine AVS waiting for cooperation.

Introduction to the re-pledge protocol Overload

In the Base ecosystem, a similar re-pledge project Overload has also appeared. According to the team, this project has three differences:

• Any ERC-20 token can be pledged

• On-chain consensus

• No slashing mechanism (slashing)

• Pledger privilege elevation

Each of these changes the re-pledge mechanism, which are explained below.

Any ERC-20 token can be pledged

Compared with EigenLayer which only accepts ETH and its corresponding liquidity pledge token, Overload can accept users to pledge any ERC-20 token. It can increase the flexibility and motivation of pledgers.

Overload can accept any ERC-20 token for pledge

This is to make up for the lack of asset volume in the Base ecosystem. On the other hand, whether Overload's design will compromise the network security of its AVS in the future still requires more discussion.

Onchain Consensus

Overload introduces the concept of Onchain Consensus, allowing AVS to perform verification directly on the chain. According to the team’s description, this move can prevent malicious behavior by node operators and greatly simplify the development of AVS.

No reduction mechanism

On the Ethereum network, there are 4 possibilities for validators to be punished:

• Propose a different block

• Surround voting

• Double signature

• Inactivity leaks

The validator who reduces the token will lose part of the pledged ETH. If the ecology is pledged again, it will become a node operator and cause the staker's assets to suffer losses, which is considered to be a way to obtain more benefits. The risks and costs to be borne.

However, there is no reduction mechanism in Overload. Since AVS uses on-chain consensus, only the "inactive participation" penalty is applied. Instead, the verifier is imprisoned and temporarily kicked out of the verifier set to allow the verifier to Miss out on proof rewards. This penalty will not cause the staker's assets to be lost.

The Overload team believes that this can increase users’ willingness to pledge assets.

Pledger privilege enhancement

Compared with the design in EigenLayer, the pledger entrusts the tokens to the node operator, and the latter can choose which AVS to operate, so the token is actually pledged The user's authority and operation difficulty are not high.

Overload downplays the role of node operators, allowing pledgers to choose which AVSs they want to operate their tokens on, and then pledge them to the corresponding verifiers. They can also choose more than one object to increase their assets. autonomy.

Overload allows stakers to decide which AVS to operate

New points competition

The Overload team said it will launch re-staking in the near future The related points competition, imitating the EigenLayer marketing model, is expected to attract some users to try it first.

The Overload team’s first step is quite satisfactory and the strategy is reasonable. Opening diversified ERC-20 assets as collateral can make up for the lack of existing funds in the Base ecosystem; on the other hand, the non-penalty mechanism can reduce users' doubts about Layer 2 and it is a new project; finally, because Layer 2 users are relatively It can perform more advanced operations, so opening more permissions to pledgers may meet the needs of these people.

However, whether the market will pay for this remains to be verified.

Restaking facilities are emerging in major ecosystems

In addition to this Base network, in fact, there have been many restaking projects in Solana this year, such as Cambrian, Solayer Labs, and Picasso. Create a Solana-style EigenLayer to enhance the existing ecosystem.

Достаточная ли безопасность?

Однако суть повторной ставки заключается в том, чтобы разделить безопасность с внешними децентрализованными сетями, которые должны быть построены на прочном фундаменте исходной основной сети.

По сравнению с рыночной стоимостью ETH (370 миллиардов долларов) или SOL (71 миллиард долларов), у Base в настоящее время TVL составляет всего 5,4 миллиарда долларов. Имеет ли она возможность управлять сильной экосистемой рестейкинга? Кажется, впереди еще долгий путь.

Нужно ли строить экосистему перезалога?

Еще один ключевой вопрос, который необходимо прояснить всем командам по повторному стейкингу: «Действительно ли сеть предлагаемого протокола нуждается в экосистеме повторного стейкинга?» Например, некоторые пользователи в сообществе Solana считают, что это будущее развитие? Solana будет основана на единой. Действительно ли необходима выгода от децентрализации безопасности на другие внешние сети, если body Chain является основной?

Конечно, команде Overload также необходимо подумать (или обосновать), нужно ли снова закладывать экосистему Base? Будет ли он пересекаться с существующей экологической инфраструктурой Ethereum?

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