Eigenlayer will introduce an inter-principal fork at the launch of the EIGEN token
2024-04-29 17:23:50
On April 30th, Eigenlayer described a high-level overview of the V1 version of its inter-principal fork protocol in a white paper published on GitHub. Eigenlayer will introduce a new crypto-economic security system, called an inter-principal fork, designed to complement Ethereum remortgaging. There are two separate tokens in Eigenlayer, bEIGEN (powered by EIGEN) for staking and EIGEN for non-staking purposes, such as DeFi. bEIGEN can be forked. bEIGEN and EIGEN are both ERC20 contracts. Anyone can immediately exchange 1 bEIGEN for 1 EIGEN and vice versa. Only bEIGEN forks that currently support EIGEN will be considered for encapsulation and unencapsulation. Eigenlayer will build V2 on top of V1, and in V3, the ability to defend against malicious behavior by the Security Council will be implemented. Before the full launch of V1, there will be a whitelisting process for inter-principal AVS, and all whitelisted AVS will be run by all EIGEN stakeholders.
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