Omni Network and Ether.Fi Invest $600 Million in ETH to Secure Omni Network and Improve EigenLayer Ecosystem Security
Ether.Fi Initiates Alleged Token Airdrop Campaign to Reward Loyalty in Restaking Process
EigenLayer at the Heart, Liquid Restaking Market Sees Soaring Total Value Locked in Just a Few Months
In a move to enhance the security of the cryptocurrency ecosystem, Omni Network and Ether.Fi have announced a significant agreement. The two entities have committed to dedicating $600 million to securing the Omni network and improving the overall security of the EigenLayer ecosystem, based on a shared security model.
This agreement, involving a $600 million restaking of ether (ETH), is the result of a collaboration between Omni Network and Ether.Fi to strengthen the resilience of the Omni network. This partnership is part of EigenLayer’s shared security model, aiming to pool security efforts across various projects and platforms.
According to the terms of this agreement, Ether.Fi will delegate one-third of its total locked value, amounting to $1.8 billion, to secure the Omni network. The Omni network is a blockchain designed to enable communication between all Ethereum rollups.
In return, Omni will whitelist Ether.Fi’s eETH liquid token and select Ether.Fi’s node operators to execute its Active Validation Service (AVS). The restaked ether will serve as collateral against security breaches and asset devaluations.
Alongside this agreement, Ether.Fi has announced the launch of a campaign titled “Final Countdown,” which may be related to a governance token airdrop rewarding participants who have accumulated points through restaking. This initiative aims to further encourage user engagement in the restaking process, offering not only additional yield but also convertible loyalty points for token airdrops.
The liquid restaking market, which allows for additional yield on natively staked ether, has been experiencing exponential growth since December. The Total Value Locked (TVL) on EigenLayer has soared from $250 million to $10 billion in less than 3 months.
