Innovation Drives Web3 Development: Focusing on Outstanding Leaders in the Crypto Assets Field

The thriving development of the Web3 industry cannot be separated from the many long-term builders who have been working hard. To deeply explore the stories and perspectives of these industry pioneers, a brand new series of English dialogues has emerged. This series focuses particularly on outstanding leaders in the Crypto Assets field, aiming to discuss how they are shaping the future landscape of Web3 in this dynamic and rapidly developing industry.

This series will delve into the technological innovations of mainstream Crypto Assets such as Bitcoin and Ethereum, as well as the applications of other emerging technologies, analyzing how these innovations are changing the global economic system and the Crypto market. At the same time, it will focus on key issues such as the regulatory challenges faced by the industry, market trends, and how to respond to market volatility. This is not only a platform for builders in the Crypto Assets industry to voice their opinions but also a bridge connecting ordinary users with industry insiders, helping the public better understand this complex and fascinating field.

In the latest episode of the dialogue, we are honored to have invited Su Yang, the head of the Asia-Pacific region at Eigen Foundation. Here are some highlights from the conversation with Su Yang.

Host: Su, could you first introduce the most important milestones that Eigenlayer has achieved this year?

Su Yang: This year is crucial for Eigenlayer, and we have three major milestones worth mentioning. First, we secured $100 million in Series A funding led by a well-known investment firm, which not only validates our strategy but also allows us to scale operations significantly. Second, we successfully launched the mainnet in April, enabling stakers to fully understand the practical operation of Eigenlayer. Finally, we introduced the EIGEN token, which has garnered widespread attention. We initially designed it as a non-transferable token to ensure its secure use within the ecosystem.

Host: Can you explain what the AVS ecosystem is and why it is crucial for the development of the Ethereum staking landscape?

Su Yang: AVS, or Active Verification Service, is a concept proposed by the founder of Eigenlayer. It allows protocols that require economic security guarantees to leverage our network, particularly proof-of-stake based protocols. This means that any protocol needing such security guarantees can become part of our AVS ecosystem, making it very diverse. For example, we have partners supporting rollup services, as well as some dedicated to key functionalities like data availability. The AVS ecosystem essentially creates a safer and more scalable environment for various projects.

Host: What is permissionless staking, and how does it differ from the traditional Ethereum staking model?

Su Yang: Permissionless staking is a significant innovation for us. It allows more projects to use their native tokens for staking, creating a more vibrant and secure environment. Initially, we focused on ETH as the primary staking asset, but as the projects grew, we realized the need for greater flexibility. Now, ERC-20 tokens have been introduced as re-stakable assets, and we are expanding participation and enhancing the security of the AVS ecosystem.

Host: What challenges has Eigenlayer faced this year, and how have the feedback from the community and developers influenced Eigenlayer's roadmap?

Su Yang: Like any major project in the crypto assets field, we also faced some challenges. One of the biggest challenges was managing the community's expectations and needs during the mainnet launch. We advanced the timeline, which increased the pressure, but with the strong support of ecosystem partners, we successfully overcame these difficulties. The feedback from the community is very valuable to us and underscores the importance of maintaining a close and supportive ecosystem.

Host: What significant updates, strategic partnerships, or development plans does Eigenlayer have in the next 6 to 12 months?

Su Yang: We have a series of important plans! We plan to introduce programmatic incentives, expand token governance, and launch a reduction mechanism to enhance protocol security. In addition, we are also preparing some highly anticipated partnerships, which will be announced soon. Our goal is to continue moving forward on a strong foundation, driving innovation and expanding our ecosystem.

User Q&A Session

Audience 1: Can you talk about the role of the Eigenlayer token in the ecosystem and what benefits long-term holders will gain?

Su Yang: Our tokens play a crucial role in providing economic security and driving incentive mechanisms within the ecosystem. Long-term holders can earn rewards by staking tokens and participate in governance decisions. The purpose of designing the tokens is to ensure that holders are not only investors but also active contributors to the ecosystem.

Audience 2: What measures has Eigenlayer taken regarding the security of staked assets on Ethereum?

Su Yang: In terms of ensuring the security of staked assets, we mainly focus on smart contract risks and slashing mechanisms. Currently, Eigenlayer's slashing mechanism is not yet online, but it will be introduced in future updates. Staked assets are locked through smart contracts to ensure their security.

Audience 3: Do you have plans to launch an ambassador program? If so, how can I participate and become an ambassador for Eigenlayer?

Su Yang: Yes, that's a very good question. We are indeed planning to launch an ambassador program, with details expected to be announced in the next month or two. This program will provide opportunities for those who wish to actively participate in our ecosystem and help promote Eigenlayer. Please stay tuned for our official announcements for more information!

Audience 4: How does Eigenlayer view the potential of the Asian market? Are there plans to expand into other countries with significant Crypto Assets market potential?

Su Yang: The Asian market is very important to us, and we are designing a plan that is more suitable for this region. We hope to see more developers, ecosystem supporters, and advocates of Eigenlayer emerge from this area. The ambassador program will be part of our efforts, but we are also considering more ways to collaborate more closely with the community in the Asia-Pacific region.

Host: Thank you for Su's sharing. Clearly, Eigenlayer is at the forefront of innovation in Ethereum staking. We look forward to the arrival of these developments.

Su Yang: Thank you! I am very happy to share our journey, and I am full of期待 for the future. Thanks to everyone who joined us today.