EigenDA
What is EigenDA?
EigenDA is a data availability solution with 10 MiB/s of write throughput and the lowest cost in its class. The system's design is inspired by Danksharding, which promises to scale Ethereum's DA beyond EIP-4844. EigenDA is available today. Learn more at https://docs.eigenlayer.xyz/eigenda/overview/
Twitter, Website, Contract, EigenLayer
address: 0x870679e138bcdf293b7ff14dd44b70fc97e12fc0
Restakeable assets
Assets accepted for restaking by EigenDA along with their delegated balances.
Token | Balance | USD Value |
---|---|---|
ETH | 3.07M | $10.98B |
stETH | 1.05M | $3.76B |
bEIGEN | 397.8M | $1.69B |
mETH | 136.6K | $513.5M |
ETHx | 77.7K | $290.8M |
wBETH | 26.6K | $100.5M |
swETH | 25.3K | $97.6M |
rETH | 18.5K | $74.2M |
osETH | 17.7K | $65.7M |
sfrxETH | 9.3K | $36.9M |
LsETH | 8.3K | $31.5M |
OETH | 6.1K | $21.7M |
cbETH | 5.5K | $21.4M |
ankrETH | 728 | $3.07M |
reALT | 1.66M | $247.3K |
Risk analysis
AVS
Business Model
EigenDA uses Dual Staking of ETH and EIGEN, where EIGEN stakers can be forked for data availability assurances. Rollups are also allowed to integrate their own token quorum so that DA commitments are validated by both the default EigenDA quorum and the custom rollup quorum.
While native rollup staked tokens and the unknown DeFi risk profile of EIGEN may introduce moderate initial risks, the strong quorum composition and the ability to soon slash intersubjective faults through the sovereign token establish a robust business model, where all quorums must be compromised in order for EigenDA to fail, which appears challenging to execute.
Being mindful in setting a biased staking balance in favor of ETH is strongly advised for added security, particularly at the early stage of an AVS.
Protocol Security
One code audit performed by one entity only.
Code coverage percentage measures the extent of EigenDA code tested by automated tests, calculated as the ratio of tested lines or branches to the total in the codebase. Higher percentages suggest more comprehensive testing and a reduced likelihood of latent bugs in EigenDA. It sits at around 55%, as of 11/18/2024.
Operator Profile
Since we are at the very early stages of EigenLayer, operators' performance reputation was classified as unknown. Operator's entrenchment level indicates how entrenched EigenDA's operators are validating other AVSs. The small number of AVSs currently live helps exacerbate this risk, in a pooled security context.
All AVSs are assigned a high operator profile risk at this early stage.
EigenDA Protocol
Rollups
EigenDA allows rollup nodes to interact directly with a majority of EigenDA nodes, alleviating centralization pressures by bypassing the need for a single leader to order the data. Existing solutions rely on a single leader to sequence blobs, introducing a potential censorship chokepoint.
Furthermore, rollups on EigenDA can now reserve a chunk of bandwidth (1MB/s, e.g), helping alleviate current data congestion issues, surge pricing, and fluctuating gas fees — throughput is greatly increased as a result.
Disperser
EigenDA's Disperser sends blobs straight to its operators through direct communication (unicast). In traditional methods, operators receive data blobs from peers and re-broadcast them to others, impacting liveness. Furthermore, the Disperser is built on KZG commitments and multi-reveal proofs rather than fraud proofs, making it possible to instantly verify correctness of coding.
Disperser permissionlessness and DAS (data availability sampling) for data verifiability are next in the roadmap. Currently, EigenDA uses a single permissioned Disperser to send data to its nodes, causing a liveness bottleneck. Once permissionless payments go live, the Disperser will be made permissionless, allowing any rollup sequencer to operate its own. Additionally, its usage of KZG polynomial coding ensures compatibility with DAS, to enhance verifiability, on a next release.
For more details, check eigenda.wtf and its blob explorer here.
BFT Validator Profile
BFT consensus imposes minimum thresholds of 1/3 and 2/3 validator agreement for liveness and safety guarantees, respectively.
EigenDA has introduced new low node requirements to promote decentralization and increased throughput. The minimum node requirement for validator participation is only 0.5MB/s (three orders of magnitude lower than current standards); the more stake delegated, the more node bandwidth becomes available.
At scale, TEE and DVT would potentially still be worth considering.
Operators for EigenDA (top 20)
# | operator group | TVL |
---|---|---|
1 |
ether.fi
ether.fi-1 - Pier Two
($1.00B)
ether.fi-2 - P2P.org
($918.0M)
ether.fi-10 - Node.Monster
($824.2M)
ether.fi-4 - Finoa
($809.7M)
ether.fi-3 - DSRV
($705.6M)
ether.fi-11 - Validation Cloud
($580.7M)
ether.fi-6 - A41
($424.4M)
ether.fi-5 - Cosmostation
($339.7M)
ether.fi-8 - DSRV
($248.3M)
ether.fi-7 - Chainnodes
($224.2M)
ether.fi-12
($162.0M)
ether.fi-9 - Nethermind
($116.0M)
|
$6.36B |
2 |
Kelp
Kelp by Kiln
($966.5M)
Kelp by Luganodes
($699.0M)
|
$1.67B |
3 |
EigenYields
|
$1.62B |
4 |
Renzo
Renzo by Figment
($497.3M)
Renzo by HashKey
($253.3M)
Renzo by Pier Two
($249.8M)
Renzo by P2P.org
($168.5M)
Renzo by Luganodes
($104.1M)
Renzo ezEIGEN
($19.4M)
Renzo $EIGEN by P2P
($6.47M)
|
$1.30B |
5 |
P2P.org
|
$1.19B |
6 |
Unit 410
Unit 410 [1A]
($127.2M)
Unit 410 [3B]
($120.0M)
Unit 410 [3C]
($110.0M)
Unit 410 [3D]
($100.0M)
Unit 410 [3A]
($76.4M)
Unit 410 [3E]
($67.0M)
Unit 410 [3F]
($60.0M)
Unit 410
($52.4M)
Unit 410 [2A]
($23.9M)
|
$737.0M |
7 |
Eigenpie
|
$676.2M |
8 |
Kraken
|
$532.3M |
9 |
Coinbase
Coinbase
($162.3M)
Coinbase [1]
($95.9M)
Coinbase [5]
($91.3M)
Coinbase [2]
($60.6M)
Coinbase [4]
($55.3M)
Coinbase [3]
($53.5M)
|
$518.9M |
10 |
Puffer
Puffer - P2P
($284.5M)
Puffer - InfStones
($64.9M)
Puffer
($27.0M)
Puffer - Everstake
($17.1M)
Puffer - A41
($9.10M)
Puffer - Hashkey Cloud
($8.75M)
Puffer - CoinSummer
($8.38M)
|
$419.7M |
11 |
mETHProtocol
mETHProtocol-A41
($207.8M)
mETHProtocol-P2P
($207.8M)
|
$415.6M |
12 |
InfStones
|
$270.7M |
13 |
Twinstake
|
$261.7M |
14 |
Swell
Swell - InfStones
($93.3M)
Swell - P2P
($27.1M)
Swell - Luganodes
($21.5M)
Swell - Pier Two
($21.5M)
Swell - Finoa
($21.5M)
Swell - Chorus One
($21.5M)
Swell - Everstake
($21.5M)
Swell - A41
($21.5M)
|
$249.6M |
15 |
Kiln
|
$230.7M |
16 |
Staked
|
$148.3M |
17 |
Galaxy
|
$127.5M |
18 |
RockX
|
$127.1M |
19 |
CoinSummer
|
$115.5M |
20 |
AltLayer
|
$106.7M |