The Ethereum re-pledge (Restake) protocol EigenLayer will increase the LST deposit limit again on August 22.
Exciting news! EigenLayer will raise the cap for LST restaking on Aug 22 at 7am PT.A global pause will take place if any one LST hits approximately 100k ETH restaked.Read the blog post for full details https://t.co/DJ6iaxp8Qa pic.twitter.com/bQcNDAwqly
— EigenLayer (@eigenlayer) August 11, 2023
EigenLayer has been full of recharges in the past few times in a short period of time. Currently, the recharge limit of individual LST (rETH, stETH, cbETH) is in short supply, with only 15,000 LST.
After August 22, EigenLayer will open LST recharge again. The LST recharge function will be suspended again until the number of any LST recharge reaches 100,000. Official example: Assume that the recharge quantities of rETH, stETH, and cbETH are 50,000 respectively. Before any of them reaches the upper limit of 100,000, LST recharge will be open indefinitely. However, as long as the recharge quantity of one of the LST tokens reaches the upper limit of 100,000, it will All LST deposits will be suspended immediately.
Changes that increase the rehypothecation limit require a multi-signature transaction sent by Operations Multisig and waiting for the 10-day time lock to expire. After expiration, the operational multisig responsible for supervising the daily operations and procedures of the protocol needs to trigger the operations in the time lock contract again and execute the modified protocol parameters.
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