u--1: EigenDA

EigenDA AVS on EigenLayer

EigenDA

Total restaked ($)
info
Total value of restaked assets (excluding EIGEN)
:
$9.38B
ETH restaked
info
Total restaked beacon ETH and LSTs, denominated in ETH
:
3,536,920.833
Total operators: 220
Total stakers: 85,069
Weekly rewards
info
Total weekly rewards shared between restakers
:
2.5  weth WETH

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

Risk analysis (beta)
risk analysis by tokensight

AVS

Business Model

Dual Staking + Rollup Custom Quorum
low risk

EigenDA uses Dual Staking of ETH and EIGEN, where EIGEN stakers can be forked for data availability assurance. 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 establishes a robust business model, where all quorums must be compromised in order for EigenDA to fail, which appears challenging to execute.

Protocol Security

Code Audits & GitHub Code Coverage
medium risk

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 9/17/2024.

view github

Operator Profile

Reputation & Entrenchment Status
high risk

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.

view full operator list

EigenDA Protocol

Rollups

Blob Sequencer Decentralization & Bandwidth Reservation
low risk

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

Disperser Communication & Security Status
low risk

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

Decentralization & Security Status
low risk

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.

Have a question or feedback about AVS risks? Get in touch.

Operators for EigenDA (top 30)

# operator group TVL ETH EIGEN
1
ether.fi ether.fi
info
ether.fi-1 - Pier Two (264K ETH)
ether.fi-2 - P2P.org (260K ETH)
ether.fi-4 - Finoa (204K ETH)
ether.fi-3 - DSRV (189K ETH)
ether.fi-11 - Validation Cloud (158K ETH)
ether.fi-6 - A41 (116K ETH)
ether.fi-5 - Cosmostation (83K ETH)
ether.fi-8 - DSRV (73K ETH)
ether.fi-12 (45K ETH)
ether.fi-9 - Nethermind (34K ETH)
ether.fi-10 - Node.Monster (11K ETH)
$3.82B 1.44M 5.66M
2
Puffer Puffer
info
Puffer - P2P (162K ETH)
Puffer - InfStones (34K ETH)
Puffer - Hashkey Cloud (23K ETH)
Puffer (22K ETH)
Puffer - A41 (17K ETH)
Puffer - CoinSummer (16K ETH)
Puffer - Everstake (16K ETH)
$769M 290K 1.49M
3
P2P.org [all AVS] P2P.org
$744M 280K 19.8M
4
Renzo Renzo
info
Renzo by P2P.org (61K ETH)
Renzo by Figment (56K ETH)
Renzo by Pier Two (55K ETH)
Renzo by HashKey (55K ETH)
Renzo by Luganodes (46K ETH)
Renzo $EIGEN by P2P (2K ETH)
$729M 275K 350K
5
Eigenpie by P2P.org Eigenpie by P2P.org
$624M 235K 845K
6
Kelp Kelp
info
Kelp by Luganodes (120K ETH)
Kelp by Kiln (104K ETH)
Kelp by Omakase (997 ETH)
$596M 225K 59K
7
EigenYields EigenYields
$413M 155K 8.96M
8
InfStones Enterprise InfStones
$257M 97K 4K
9
Swell Swell
info
Swell - InfStones (29K ETH)
Swell - Luganodes (9K ETH)
Swell - P2P (9K ETH)
Swell - Everstake (9K ETH)
Swell - A41 (9K ETH)
Swell - Chorus One (8K ETH)
Swell - Finoa (8K ETH)
Swell - Pier Two (8K ETH)
$229M 86K 2K
10
Unit 410 [1A]
$128M 48K 850K
11
Kiln Kiln
$110M 41K 20.1M
12
Staked Staked
$107M 40K 1.74M
13
InfStones InfStones
$97.7M 37K 1.42M
14
CoinSummer Labs CoinSummer Labs
$96.4M 36K 86K
15
Galaxy Galaxy
$95.2M 36K 32K
16
AltLayer AltLayer
$86.5M 33K 2.32M
17
stakefish
$54.6M 21K 314K
18
HashKey
$45.6M 17K 148K
19
Black Sand
$38.5M 15K 74K
20
Nethermind
$22.5M 8K 629K
21
Coinbase
$20.3M 8K 31.7M
22
Chorus One
$19.7M 7K 480K
23
Luganodes
$18.0M 7K 2.86M
24
Unit 410 [2A]
$17.7M 7K 0
25
Kraken
$17.1M 6K 0
26
Allnodes
$16.1M 6K 233K
27
ChainUp Cloud
$16.0M 6K 765
28
Frax
$15.6M 6K 7K
29
Figment
$14.7M 6K 1.77M
30
A41
$14.3M 5K 18K

Research