EigenLayer 重塑收益：再质押的模式与收益

About a year ago, the author started a new journey to help the new paradigm of network security understanding. The concept of re-pledge came into being. In a word, verifiers can now protect the security of multiple networks, including layers, basic layers, computing networks, and middleware such as shared sequencers. Essentially, any network needs some form of consensus and does not need start-up funds to ensure security. These networks are called active authentication services in the world. If no one wants to become a certain department, Generally, all operators need to invest in related hardware and initial pledge, which makes the projects that need a set of verifiers have to issue tokens at a very high and sometimes unreasonable valuation in order to obtain high inflation rewards, which may lead to large-scale speculative selling, which is very unfavorable to the verifier operators. Although there is a risk of leverage lightening of a single operator, there will always be verifiers with good performance who want to gain some additional benefits by creating or using similar and equal mobile pledge tokens. The local re-pledge of Ethereum ensures the security of the network. Anyone who owns it is actually a contributor to the security and decentralization of Ethereum, and gets rewards from the Ethereum network. The further pledge of the mobile pledge token provides security for the network in exchange for income, so the re-pledge person will be entitled to the network reward and deduct the operator's fee. Since the pledge and re-pledge are beneficial, why is it mobile? If you believe in the mobile pledge of Ethereum, then you will also recognize the mobile. The mobile pledge of re-pledging Ethereum actually involves two parties and retail participants. Retail participants may say that I don't have enough hardware or even time to operate a verifier, but they want to make my income higher. The pledge company will say that I can help you collect part of the return as operating expenses and conduct it in a completely transparent way, which eliminates the five expenses of the public: hardware cost, hardware maintenance time, energy and thinking space. For me, there are additional commissions besides the above-mentioned related expenses. The cost of each node operated by operators in Ethereum is replaceable, that is, the network regards each node as the same, whether it is running in the infrastructure cloud or other places. For a network to protect other networks, each operator can choose which other networks he wants to verify, which basically means that there are no identical two operators, so experienced teams or associations wisely choose operators with good strategies to solve the problem of retail participants' hesitation. Worrying about the current part has the opportunity to get higher income than any pledge agreement on the Ethereum all year round. How to start the income flywheel again? If you only pay attention to the income, there are about one way to get higher income. The real value lies in the almost risk-free rate of return, which means the earning method with the least risk. The less the risk, the greater the possibility of being included in other agreements, the stronger the combination, and the greater the demand. All this starts with trust, that is, the lowest risk for me. Evaluation is not so difficult. You have risks based on operators, operators closing verifiers, operators quality, hardware quality, and network-based risks. The consensus mechanism of all risks is the same, and the minimum hardware requirements for all operators are the same. There are more factors to consider in the re-pledge, including whether the hardware requirements need to be expanded, the actual combat test of the new consensus mechanism of security audit, the economic model of itself and the types of supporters, investors and partners obtained. Small factors, such as the types of supporters, investors, partners, etc., have a possible strategy just running on the internet. We can't expect retail investors to make educational decisions. Retail participants will not do so. If they simply imitate any operator's strategy and are lightened, it will lead to loss of trust, thus affecting the liquidity of the network. If operators launch their own, it will lead to excessive fragmentation or excessive pledge concentration in the initial stage, even if multiple operators use the same strategy. However, different re-pledged tokens will also lead to unnecessary fragmentation. The success of a common pair with a unified strategy and decentralized operators is very important, which ensures that the positive feedback cycle with the lowest risk can be regarded as the best risk management. More liquidity is whitelisted at most, used at most, and most popular. The reason why the lowest risk is the lowest risk is because the risk of being lightened from one verifier is much smaller than that of being lost from another, which is why people still do it. However, the selection and pledge has recently experienced a lightening event, in which there are multiple verifiers, and each lightening event totals about. Although their infrastructure partners have already borne the losses, this is very insignificant compared with the million pledges, which shows the importance of having reliable partners. How does the mobile re-pledge work? Let's talk about how to open the income flywheel. Users will send their money to the fund pool contract of the mobile re-pledge platform, and the re-pledge will get the equivalent value. Liquidity re-pledges tokens, and then the contract allocates these to the strategy management contract in the agreement. The strategy management contract entrusts these to the node operators and ensures that the node operators adhere to the governance of the strategy. You can choose a specific strategy operator to verify that the bottom layer reserves a part of the rewards and then transfer it to the agreement. The agreement will extract a part and eventually allocate the rest to the re-pledger, which is obviously more extractive than the liquidity pledge tokens, but the workload and maintenance will consume more resources. How attractive is the rate of return? People, we don't know how the incentive of active verification service will be distributed, and we don't know how each consensus mechanism will work, but based on some basic written mathematical calculations, the following are several possible scenarios that are of reference value for calculating the rate of return. Considering the completely diluted valuation, refer to the last known data of the project, and those project tokens may start at a higher valuation, making the rate of return significantly more attractive. Conservative estimation, we assume that the values of all partners announced on the ecosystem page are The valuation of their last round of fund-raising is about the basic rate of return, which is about 10 thousand dollars according to our calculation. Both of them are affected by price and emissions, which is a conservative figure, that is, the supply of tokens and the enhanced income which is roughly equivalent to the average may total up to a higher income in a more radical scenario. Of course, these are based on assumptions. If we discuss the in-depth calculation method, we can believe that a lending agreement can be used to accept all sums with a platform dedicated to liquidity re-pledge of lending assets in exchange for their acceptance by a platform dedicated to liquidity re-pledge. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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