EigenLabs is the company behind EigenLayer. EigenLayer is a protocol on Ethereum that introduces restaking, allowing for the reuse of staked ETH or liquid staking tokens (LST) to secure additional applications, thereby earning more rewards. It aims to reduce capital costs for participants and enhance security across services by pooling Ethereum's staking resources.

EigenLayer's protocol features include custom decentralization, allowing native ETH stakers to secure services demanding high decentralization. It employs custom slashing mechanisms for cryptoeconomic security, imposing penalties for malicious actions as defined by each service's slashing contract. Additionally, the protocol supports operator delegation, enabling stakers to delegate operation responsibilities to trusted operators for service participation. This framework aims to enhance Ethereum's security and incentivize participation through additional rewards, while offering flexibility in service engagement based on decentralization, risk, and reward preferences.