BitGo Integrates with EigenLayer for ETH Restaking and EIGEN Token Staking, Enhancing Institutional Asset Management

BitGo Trust Company has exciting news! They’ve integrated with EigenLayer, an Ethereum restaking protocol. This new feature allows for native ETH restaking and EIGEN token staking. It works across different wallet types, including cold and hot self-custody wallets, as well as custody wallets.

Now, institutional clients can manage their digital assets more effectively. They can also dive into the growing decentralized finance (DeFi) ecosystem.

With BitGo’s secure platform, users can stake EIGEN and earn rewards. Plus, ETH holders can restake their ETH into EigenLayer’s Active Validated Services (AVS) ecosystem. This means institutions can support decentralized protocols while earning extra AVS rewards. All of this is done without compromising security, maximizing the potential of their staked ETH.

BitGo clients have the option to delegate assets to carefully selected AVS operators. These operators are chosen based on their expertise within the EigenLayer ecosystem. This delegation helps clients diversify risk and optimize their staking strategies. It ensures that every decision aligns with their investment goals.

As of now, there are no slashing penalties for ETH restaking or EIGEN staking. However, this could change in the future. It’s important to note that slashing does apply to regular ETH staking. For those looking to restake their ETH in EigenLayer, they must first fully unstake it. This process includes an unbonding period of about seven days. Keep this in mind, as it may affect the timing of your rewards.

In another development, BitGo has integrated with the Layer 2 network Stacks. They’ve added support for sBTC and the Stacks token standard SIP-10. This move aims to enhance BitGo’s role in the Stacks ecosystem. It also improves Bitcoin’s functionality by offering both delegate and solo stacking options.