0x740e2e5f…85d3sent to0xec17aaba…5b39·#18,477,068·0xdf332b86…882939
<p>Proposal to Integrate AnkrETH with EigenLayer</p><p><strong>Abstract:</strong></p><p>This proposal outlines Ankr's plan to integrate ankrETH with EigenLayer, a decentralized liquid staking protocol. The integration would allow ankrETH users to restake this Ankr’s LST within the EigenLayer ecosystem, which would benefit both Ankr's and EigenLayer's communities by increasing total restaked assets on EigenLayer and offering ankrETH users to enhance their rewards thanks to EigenLayer.</p><p><strong>Background:</strong></p><p>AnkrETH is a liquid staking solution that allows users to stake their ETH and receive in exchange a liquid staking token.</p><p>Ankr Staking is a pioneer in liquid staking being the first LST protocol to launch ETH LST in December 2020. Today, Ankr Staking has a TVL of over $75 million and more than 17,000 stakers.</p><p><strong>Security:</strong></p><p>Ankr is committed to providing its users with the most secure liquid staking experience possible. We take a number of steps to protect your assets, including:</p><ul><li><p>Using ankrETH, the first ETH LST solution on Ethereum, successful and market-tested since December 2020.</p></li><li><p>Undergoing multiple security audits from reputable independent third-party auditors: <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.ankr.com/docs/staking-extra/audit-reports/">https://www.ankr.com/docs/staking-extra/audit-reports/</a></p></li><li><p>Launching a bug bounty program to incentivize the security research community to help us identify and fix security vulnerabilities: <a target="_blank" rel="noopener noreferrer nofollow" href="https://immunefi.com/bounty/ankr/">https://immunefi.com/bounty/ankr/</a></p></li><li><p>Using an enhanced key-management solution from Cubist to make our validators trustless and provide additional slashing protection: <a target="_blank" rel="noopener noreferrer nofollow" href="https://cubist.dev/case-study-ankr-secure-key-management-for-ethereum-liquid-staking">https://cubist.dev/case-study-ankr-secure-key-management-for-ethereum-liquid-staking</a></p></li><li><p>Using distributed validator technology (DVT) from the SSV Network to further diminish the risk of slashing: <a target="_blank" rel="noopener noreferrer nofollow" href="https://ssv.network/">https://ssv.network/</a></p></li></ul><p>These security measures fuse together to create a robust and secure platform for liquid staking. </p><p><strong>Motivation:</strong></p><p>Ankr believes that EigenLayer is a real game changer for the liquid staking industry. By integrating ankrETH with EigenLayer, Ankr would provide additional options to its community to boost rewards on top of ankrETH in exchange for providing crypto economic security and trust to EigenLayer’s AVS. This would benefit both the Ankr and EigenLayer communities.</p><p><strong>Proposal:</strong></p><p>Ankr proposes to integrate ankrETH LST token with EigenLayer. This would allow ankrETH users to restake on EigenLayer with low barriers to entry to our community to integrate with EigenLayer.</p><p><strong>Benefits:</strong></p><p>The integration of AnkrETH with EigenLayer provides the following benefits:</p><ul><li><p>Increased restaked assets: By integrating with EigenLayer, Ankr enables its ankrETH users to easily restake on EigenLayer and benefit from additional rewards from AVS.</p></li><li><p>Liquid Restaking: Ankr Staking has been exploring the possibility of enabling liquid staking on top of EigenLayer (rankrETH). The architectural options have been defined, and voting will decide which option will be selected to enable rankrETH in 2024 Q1.</p></li><li><p>Reduced complexity: With ankrETH integrated on EigenLayer, creating rankrETH on top of restaked ankrETH is substantially easier than choosing a different architecture, which would result in increased risks, complexity, and interoperability problems with the ankrETH.</p></li></ul><p><strong>Timeline:</strong></p><p>Votes in favor of this proposal will enable Ankr restaked ETH (rankrETH) to be integrated over-the-top (restake ankrETH on EigenLayer) by early 2024 Q1.</p><p>Votes against this proposal will increase the complexity, cost, and risks because of the “under the hood” integration of the liquid staking solution, which will delay the implementation of Ankr restaked ETH (rankrETH) by late 2024 Q1.</p><p><strong>Conclusion:</strong></p><p>Ankr is a pioneer in liquid staking, and we are committed to continuous innovation in this field. Integrating ankrETH with EigenLayer will provide all the conditions for Ankr to create a liquid restaking solution with reduced complexity and cost, and ensure optimal interoperability with Ankr’s existing ankrETH LST offering. This integration will facilitate restaking on EigenLayer, while Liquid Restaking will ensure that restaked ankrETH remains liquid and composable within DeFi. All of that will make restaking ETH/ETH LST highly competitive within the LSTfi ecosystem. </p><p><br></p>