P2P.org offers revenue share as EigenLayer boosts rewards

P2P.org has introduced a revenue-sharing initiative to attract restakers as competition grows ahead of planned enhancements to restaking incentives on EigenLayer (CRYPTO:EIGEN). 

The company announced on Oct. 16 that the new initiative aims to maintain its position among EigenLayer validators by offering a share of profits to restakers who delegated their tokens before Aug. 15. 

EigenLayer, a restaking protocol on Ethereum, allows users to utilise staked tokens as collateral to secure additional networks. 

The platform currently supports more than $11 billion in restaked collateral, working with several third-party protocols known as actively validated services (AVSs). 

P2P.org manages approximately $475 million in restaked collateral on EigenLayer and has a total value locked (TVL) of $7.5 billion across assets like Bitcoin (CRYPTO:BTC), Ether (CRYPTO:ETH), and others. 

The new revenue-sharing program is being introduced as EigenLayer prepares to enhance restaking rewards, with incentives in its native EIGEN token. 

In September, the protocol announced plans to increase these incentives, aiming to make restaking more appealing. 

The platform's founder, Sreeram Kannan, highlighted the need for growth following the recent Oct. 1 unlock of the EIGEN token. 

He explained that around 4% of the total token supply would be allocated as rewards, distributed based on the number of AVSs supported by stakers. 

"Stakers will get programmatic rewards depending on how many AVSs they serve, and AVSs will pay fees to stakers and operators. 

The more AVSs pay, the more value gets allocated," Kannan said. 

As EigenLayer seeks to expand its user base and encourage greater participation, P2P.org's revenue-sharing approach aims to attract more restakers amidst increasing competition from other operators, including Figment, Blockdaemon, and Ankr (CRYPTO:ANKR). 

The focus on incentives is expected to strengthen engagement on the platform, supporting its broader growth goals.

At the time of writing, the Eigenlayer (EIGEN) price was $3.32.