EigenLayer bolsters restaking with Bitcoin yield, P2P.org payouts

“By adding uniBTC as a supported asset, ARPA opens up new liquidity pathways and reward opportunities for BTC holders,” ARPA said.

Restaking involves taking a token that has already been staked — posted as collateral with a validator in exchange for rewards — and using it to secure other protocols simultaneously. 

In October, EigenLayer launched a rewards program in EIGEN, the protocol’s native token, in a bid to accelerate restaking adoption.

P2P.org is responsible for upward of $540 million worth of restaked collateral as of Nov. 5, according to the developer’s website.

It competes with dozens of other operators, including staking-as-a-service providers such as Figment, Blockdaemon and Ankr. 

EigenLayer is prioritizing onboarding consumer Web3 applications after EIGEN’s Oct. 1 unlock, Kannan said.