The Restaking Thesis w/ Sreeram Kannan (Eigen Labs)
In this episode, Austin chats with Sreeram Kannan (Eigen Labs) about EigenLayer's vision for restaking. Sreeram argues that restaking is merely a way of making proof-of-stake networks more programmable, addressing the economic and architectural considerations required to make the restaking thesis work. The conversation also elucidates the relationship between EigenLayer and the Ethereum L1, particularly in the context of settlement and data availability, and how restaking may also one day be applied to blockchains outside the Ethereum ecosystem.
0:00 - Intro
1:44 - What is restaking?
5:11 - How is restaking different from the Cosmos vision?
9:25 - EigenLayer's tradeoffs on economic design
14:51 - Argument: Eigen Layer is just making proof of stake networks more programmable
17:09 - Rebuttal: Concerns around creating interdependent economic systems
19:30 - Why EigenLayer’s tradeoffs are worthwhile
23:37 - How EigenLayer solves bridge trust
27:28 - Settlement layer vs. data availability layer in the context of EigenLayer
32:32 - How EigenLayer's settlement on Ethereum will become affordable to users at scale
36:12 - The applicability of EigenLayer to blockchains aside from Ethereum
39:02 - Will EigenLayer be used on L2's?
40:30 - How do the EigenLayer's actively validated Services (AVS’s) actually work?
47:39 - The role of replayability and verifiability in AVS's
52:47 - How the volatility of ETH impacts EigenLayer's security
59:02 - The myth of the immutable ledger
1:13:00 - Closing thoughts
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