174 - EigenLayer Will Change Ethereum Forever
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 5 June 2023
⏱️ 111 minutes
🧾️ Download transcript
Summary
Is re-staking the biggest thing to happen to Ethereum since MEV?
We’re joined by Sreeram Kannan who walks us through Eigenlayer. The re-staking protocol that is set to change the trajectory of Ethereum forever. It may even be launching pretty soon…
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https://www.bankless.com/debrief-sreeram-kannan
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Topics Covered
0:00 Intro
7:51 How Big Is Restaking?
9:41 What is Restaking?
16:22 What Was The Aha Moment?
21:32 Restaking Explained (Simply)
25:11 Where Does Eigenlayer Live?
29:40 Slashing on Eigenlayer
42:20 Risks of Restaking
57:23 Restaking Networks
1:05:27 Designing Modular Trust
1:07:43 Eigen DA
1:10:35 The 3 Aspects Of Trust
1:14:18 Tokens On Eigenlayer
1:17:54 Why Start a Network on Eigenlayer?
1:24:22 2 Uses Of Economic Security
1:26:06 Eigenlayer Alignment
1:30:42 Restaking Risk Management
1:36:19 Takes on Vitalik's Post
1:46:55 When is Mainnet Launch?
1:49:59 How Will Restaking Change The World?
1:56:59 Outro
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Resources:
Sreeram Kannan:
https://twitter.com/sreeramkannan
Vitalik’s Article ‘Don’t Overload’:
https://vitalik.ca/general/2023/05/21/dont_overload.html
Sapiens by Yuval Harari:
https://www.amazon.com/Sapiens-Humankind-Yuval-Noah-Harari/dp/0062316095
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Related Episodes:
https://www.bankless.com/125-matt-cutler
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
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Transcript
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| 0:00.0 | You guys talk a lot about this, like, you know, banks, right? |
| 0:03.3 | Banks go and take risks, and, you know, they may crash. |
| 0:07.2 | And if they crash and burn, they're going to come to, like, the government and say, hey, you know, pay us up. |
| 0:12.5 | 2008. That's exactly what happened. Too big to fail. |
| 0:16.4 | Too big to fail. We also heard that in the crypto space, if you remember someone, we're going to be too big to fail. |
| 0:24.4 | Yeah, that's all those words. |
| 0:25.9 | Welcome to Bankless, where we explore the frontier of internet money and internet finance. |
| 0:33.7 | This is how to get started, how to get better, how to front-run the opportunity. |
| 0:37.5 | This is Ryan Sean Adams. I'm here with David Hoffman, and we're here to help you become more bankless. |
| 0:43.9 | I think we've got another opportunity to front-run the opportunity today, this time with restaking. |
| 0:50.3 | This is a phenomenon. I think David thinks restaking will change everything, and so we have the father. |
| 0:56.8 | No going back. |
| 0:57.7 | There's no going back now. We have the father of restaking Srivaram Kanan. He's the founder of eigenlayer. |
| 1:03.3 | The concept behind restaking is pretty simple. You stake your eith, and then you stake it again. |
| 1:08.3 | And it sounds deceptively simple, but it's quite the rabbit hole. |
| 1:12.1 | This is the first episode where we go down the restaking rabbit hole a few takeaways for you today. |
| 1:17.3 | We talk about what restaking is going to do to Ethereum. |
| 1:20.8 | Have we just opened Pandora's Box? |
| 1:22.7 | Number two, we talk about all the cool things that can be built on top of restaking. |
| 1:27.8 | Number three, we talk about Vitalik's concerns about restaking. |
| 1:31.4 | What happens when eith-stakers become polyamorous? |
| 1:35.1 | Number four, we talk about eigenlayer. That's the protocol that Srivaram is building, |
... |
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