<p>On April 29, EigenLayer introduced the $EIGEN, which has a unique token design and utility. We dived deeper to explain intersubjective faults, how tokens may be forkable, and the nature of $bEIGEN.</p><h1 id="what-is-eigen">What is $EIGEN?</h1><p>Before discussing $EIGEN and its design, it's essential to understand some concepts introduced by EigenLayer.</p><p>The main idea behind any decentralized network or service is trustlessness. This means you don't need a central supervisor. Instead, the network's nodes work together to verify each other's work. If a node breaks the network rules, it gets punished through a process called slashing. For example, if an Ethereum validator creates two different blocks simultaneously, it's considered an attempt to split the network into two forks, and the validator is punished by slashing.</p><p>Decentralized services rely on the ability to verify if nodes violate network rules and punish bad behavior. However, not all types of bad behavior are easy to verify and punish. EigenLayer divides bad behavior (faults) into two types:</p><ol><li><strong>Objective Faults</strong>: These are behaviors that can be verified within a blockchain using mathematical or cryptographic methods.</li><li><strong>Intersubjective Faults</strong>: These are behaviors that cannot be objectively identified on-chain, but any reasonable observer would agree that a fault occurred and deserves a penalty.</li></ol><figure class="kg-card kg-image-card"><img src="https://lh7-us.googleusercontent.com/iG7oqosSleJ4W2xN_FNg4d-B6vFNCbTL1HtpmImB2uqhCCDamkgrXcLaRJdewETTpfBrL9zYCuOzOMgKHukhO7GZ6H5w85LMZ7VGyxdu2Vic3exRkJhpFrAViInyLXiTRT0eA1QsPPOb7nadNw0uZwc" class="kg-image" alt loading="lazy" width="1600" height="840"></figure><p>ETH restaking provides a way to penalize objective faults, extending Ethereum's security to other protocols. The new $EIGEN token introduces a mechanism specifically designed to address intersubjective faults.</p><p>$EIGEN works like staking, where slashing is imposed through mechanisms similar to formalized social disputes because these slashing conditions cannot be tracked on-chain. Another analogy is governance: voting for or against proposals to charge malicious actors. You can read more about objective and intersubjective faults in the white paper.</p><p>The purposes of $EIGEN are:</p><ol><li>To cover off-chain slashing conditions. Examples include transaction ordering, databases, prediction markets, storage services, oracles, artificial intelligence, and more.</li><li>To enable protocols to implement some form of slashing without designing on-chain slashing. This can be used in new launches before ETH restaking is enabled.</li></ol><figure class="kg-card kg-embed-card"><blockquote class="twitter-tweet"><p lang="en" dir="ltr">What are some usecases of AVSs with intersubjective slashing <a href="https://twitter.com/eigenlayer?ref_src=twsrc%5Etfw&ref=p2p.org">@eigenlayer</a><br>---------------<br>1) EigenDA - to slash for data withholding (not onchain verifiable)<br><br>2) Ordering service - to slash for censorship (not onchain verifiable)<br><br>3) Validity on arbitrary VM - to slash for… <a href="https://t.co/uvhGHdDWwJ?ref=p2p.org">https://t.co/uvhGHdDWwJ</a></p>— Sreeram Kannan (@sreeramkannan) <a href="https://twitter.com/sreeramkannan/status/1788093177288601851?ref_src=twsrc%5Etfw&ref=p2p.org">May 8, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></figure><h1 id="token-fork%E2%80%A6-how-will-it-work">Token fork… how will it work?</h1><p>$EIGEN is represented in two forms: bEIGEN and EIGEN, both of which are ERC-20 tokens that can be interchanged.</p><ul><li><strong>bEIGEN</strong>: This is a bonded (staked) token used for staking. It can be withdrawn by converting it back into EIGEN. bEIGEN is subject to forking, which is a slashing mechanism.</li><li><strong>EIGEN</strong>: This is a transferable token used for non-staking purposes, such as DeFi. It can be bonded by converting it into bEIGEN.</li></ul><p>The purpose of having two representations is to simplify the process and avoid complications related to forking. If there were only one token, every forking event would require DeFi platforms and CEXes to register a new fork and supply liquidity, which is inconvenient.</p><p>Now, let’s imagine that some AVS adopted $EIGEN to secure intersubjective slashing conditions. This AVS defines the mechanism for how the intersubjective slashing will work, i.e., conditions, dispute periods, voting design, etc. Here’s a step-by-step explanation of the forking process when an operator commits an intersubjective fault:</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-4.png" class="kg-image" alt loading="lazy" width="1414" height="646" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-4.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-4.png 1000w, https://p2p.org/economy/content/images/2024/05/image-4.png 1414w" sizes="(min-width: 720px) 720px"></figure><ol><li><strong>Social Deliberation</strong>:<ul><li>A fault alert is raised by a bEIGEN staker.</li><li>Consensus participants engage in deliberation to discuss the issue.</li><li>Honest participants converge on an opinion and agree on who will raise the challenge.</li></ul></li><li><strong>Challenge</strong>:<ul><li>Raising a challenge involves launching a new version of bEIGEN (an ERC-20 contract fork), a new challenge contract, and a new fork-distributor contract.</li><li>These contracts specify how malicious operators are penalized and how challengers are rewarded.</li><li>A challenger must submit a significant number of bEIGEN tokens as a bond, which will be returned if the challenge is successful.</li><li>The new bEIGEN accounts for the operators' malicious actions, slashes them, and rewards the challengers.</li></ul></li><li><strong>Configuring the EIGEN Contract</strong>:<ul><li>If the challenge is successful, EIGEN should be tied to the new fork of bEIGEN through an upgrade transaction.</li></ul></li></ol><h1 id="eigen-allocation-details">$EIGEN allocation details</h1><p>You can read all details about token allocation and check your eligibility on the official site&nbsp;<a href="https://eigenfoundation.org/?ref=p2p.org">https://eigenfoundation.org/</a>&nbsp;Here is a summary</p><p>The total supply of EIGEN at launch is 1,673,646,668.28466 tokens.</p><figure class="kg-card kg-image-card"><img src="https://p2p.org/economy/content/images/2024/05/image-6.png" class="kg-image" alt loading="lazy" width="1418" height="806" srcset="https://p2p.org/economy/content/images/size/w600/2024/05/image-6.png 600w, https://p2p.org/economy/content/images/size/w1000/2024/05/image-6.png 1000w, https://p2p.org/economy/content/images/2024/05/image-6.png 1418w" sizes="(min-width: 720px) 720px"></figure><p>Notable that In the initial phase, the $EIGEN will be non-transferable and non-forkable. That means you can’t trade it and get slashing. According to the EigenLayer plans, we can expect enabling transferability by the end of Q3 after the <a href="https://blog.eigenfoundation.org/announcement/?ref=p2p.org#:~:text=Responsible%20Rollout%3A%20Non%2DTransferability" rel="noreferrer">following milestones</a>:</p><ul><li>Community Discussions and agreement about EIGEN’s novel design, parameters, and proposed implementation.</li><li>Payments and Slashing enable the improvement of key features for a sustainable marketplace.</li><li>Enhanced Decentralization with token allocation to the community of 15% of the EIGEN supply and community participation in upcoming protocol governance.</li></ul><h1 id="what-to-do-with-eigen">What to do with $EIGEN?</h1><p>EigenLayer <a href="https://blog.eigenfoundation.org/announcement/?ref=p2p.org#:~:text=Enhanced%20Decentralization" rel="noreferrer">announced the plans</a> to empower decentralization and distribute 8.95% more of the initial token supply for ecosystem participation before the token become transferable and forkable (so approx. next four months). </p><p>One of the few options to participate in the ecosystem right now is by staking $EIGEN. Since the token is currently non-transferable, staking is the only available action. By staking $EIGEN, you will help secure EigenDA and other upcoming intersubjective AVSs.</p><p>To get started with staking $EIGEN, check out our step-by-step staking guide in our detailed article.</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://p2p.org/economy/eigen-staking-guide-with-p2p/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">$EIGEN Staking Guide</div><div class="kg-bookmark-description">EIGEN stakedrop claims are open. Season 1 starts with 6.05% of the initial supply ready to claim. Eigen Foundation has already announced the next stakedrop season plans and is considering distributing 8.95% of the initial token supply for ecosystem participation. This guide will explain how to participate in</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://p2p.org/economy/content/images/2020/09/favicon.ico" alt><span class="kg-bookmark-author">P2P.org Blog: Insights, Guides, and News</span><span class="kg-bookmark-publisher">Vladislav Kurenkov</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://p2p.org/economy/content/images/2024/05/Guide-2.jpeg" alt></div></a></figure><h1 id="more-reading-about-eigen">More reading about $EIGEN</h1><ol><li><a href="https://blog.eigenfoundation.org/announcement/?ref=p2p.org" rel="noreferrer">Blog announcement</a></li><li><a href="https://github.com/Layr-Labs/whitepaper/blob/master/EIGEN_Token_Whitepaper.pdf?ref=p2p.org" rel="noreferrer">$EIGEN whitepaper</a></li><li><a href="https://docs.eigenfoundation.org/?ref=p2p.org" rel="noreferrer">Stakedrop season1 FAQ</a></li></ol>

<hr><h3 id="a-breakthrough-in-validator-performance-monitoring-for-polkadot-and-kusama-networks">A Breakthrough in Validator Performance Monitoring for Polkadot and Kusama Networks</h3><p><a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a>&nbsp;Validator introduces a Validator Monitoring Service designed to enhance the performance and security of validators within the <a href="https://polkadot.network/?ref=p2p.org" rel="noreferrer">Polkadot</a> and <a href="https://kusama.network/?ref=p2p.org" rel="noreferrer">Kusama</a> networks. This project, supported by the Web 3 Foundation&nbsp;<a href="https://grants.web3.foundation/applications/Validator_Monitoring_Service?ref=p2p.org">grant</a>, showcases our commitment to advancing blockchain technology through strategic innovation.</p><p><strong>What to try?</strong><br><br>Discover our service on our&nbsp;<a href="https://maas.p2p.org/?ref=p2p.org">website</a>, which is accessible via our cloud-based Telegram bot or by cloning our repository for local deployment from our&nbsp;<a href="https://github.com/p2p-org/polkadot_monitoring_service?ref=p2p.org">GitHub</a>. Follow our use&nbsp;<a href="https://p2p.org/economy/validator-monitoring-service-user-guide/">guide</a>&nbsp;to feel our product features. Everything we offer is open-source.</p><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://p2p.org/economy/validator-monitoring-service-user-guide/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Validator Monitoring Service User Guide</div><div class="kg-bookmark-description">Welcome to the Validator Monitoring Service User Guide. This comprehensive guide is designed to help you effortlessly set up and navigate through our monitoring service, ensuring you have all the tools and knowledge to monitor your validator’s performance effectively. Find our Monitoring tool by using a tg bot. Telegram bot</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://p2p.org/economy/content/images/2020/09/favicon.ico" alt><span class="kg-bookmark-author">P2P.org Blog: Insights, Guides, and News</span><span class="kg-bookmark-publisher">Alex Tishin</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://p2p.org/economy/content/images/2024/03/Polkadot-validator.jpg" alt></div></a></figure><h3 id="overview-of-the-validator-monitoring-service"><strong>Overview of the Validator Monitoring Service</strong></h3><p>Our service is meticulously designed to provide real-time data and comprehensive performance analysis of validators, addressing a critical gap in the existing ecosystem. The service stands out with its unique features:</p><ol><li><strong>Real-Time Performance Data:</strong>&nbsp;Offering insights into validators' active participation in consensus and their role in blockchain security.</li><li><strong>Comparative Analysis:</strong>&nbsp;Enabling users to compare performance metrics with other validators.</li><li><strong>Historical Data Access:</strong>&nbsp;Providing up to one month of stored data for in-depth performance analysis.</li></ol><div class="kg-card kg-button-card kg-align-center"><a href="https://maas.p2p.org/?ref=p2p.org" class="kg-btn kg-btn-accent">Try MaaS (Monitoring as a Service) now!</a></div><h3 id="innovative-features-and-customization"><strong>Innovative Features and Customization</strong></h3><p>Our monitoring tool extends beyond traditional data tracking by incorporating a flexible alerting system that can be tailored via a Telegram interface. This customization allows users to define specific alert thresholds, adapting the tool to their operational needs and enhancing responsiveness to network conditions.</p><h3 id="key-benefits-for-the-community"><strong>Key Benefits for the Community</strong></h3><p>Our service is strategically designed to serve multiple stakeholders within the blockchain ecosystem:</p><ul><li><strong>Validator Operators:</strong>&nbsp;This is especially beneficial for small teams and independent validators, aiding in compliance with strict program requirements and enhancing performance.</li><li><strong>Nominators:</strong>&nbsp;Empowers nominators with detailed comparisons, optimizing their decisions in selecting validators.</li><li><strong>Foundation: </strong>Assists in identifying and addressing security vulnerabilities and enhancing network robustness.</li></ul><h3 id="unique-advantages-over-existing-solutions"><strong>Unique Advantages Over Existing Solutions</strong></h3><p>Our service differentiates itself through:</p><ul><li><strong>Ease of Use:</strong>&nbsp;Easy setup with a Telegram bot.</li><li><strong>Extensive Data Collection:</strong>&nbsp;Providing granular data, including participation in consensus, selection as a para-validator, and session-specific metrics.</li><li><strong>Dedicated Support and Maintenance:</strong>&nbsp;It is backed by one of the largest validators in the network, ensuring reliability and ongoing improvements.</li></ul><h3 id="project-details-and-system-workflow"><strong>Project Details and System Workflow</strong></h3><ul><li><strong>Convenient User Interface:</strong>&nbsp;Powered by a Telegram bot for easy dashboard creation and management.</li><li><strong>Efficient Data Collection Process:</strong>&nbsp;Utilizing exporters from the Blockchain for real-time and historical data.</li><li><strong>Comprehensive Metrics:</strong>&nbsp;This covers a wide range of indicators, including general, validator-specific, para-validator points, and finality metrics.</li></ul><p>Available through both cloud-based and self-hosted configurations, our service offers flexibility to accommodate different user preferences and security requirements.</p><h3 id="our-team-and-experience"><strong>Our Team and Experience</strong></h3><p>Led by a team of seasoned professionals,&nbsp;<a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a>&nbsp;Validator brings extensive experience in maintaining validators and developing monitoring tools within the Polkadot and Kusama networks.</p><h3 id="expanding-our-services-validator-operations-and-staking-opportunities"><strong>Expanding Our Services: Validator Operations and Staking Opportunities</strong></h3><p>We also offer comprehensive validator services for the&nbsp;<a href="https://p2p.org/networks/polkadot?ref=p2p.org">Polkadot</a>&nbsp;and&nbsp;<a href="https://p2p.org/networks/kusama?ref=p2p.org">Kusama</a>&nbsp;networks. Stake your DOT with us for a secure and reliable experience. For substantial stakes, especially over 200K DOT, <strong>we provide exclusive benefits and opportunities to maximize returns</strong> while supporting network security.</p><p></p><div class="kg-card kg-button-card kg-align-center"><a href="https://p2p.org/networks/polkadot?ref=p2p.org" class="kg-btn kg-btn-accent">Stake your $DOT</a></div><p></p><h3 id="join-us-in-advancing-blockchain-security-and-performance"><strong>Join Us in Advancing Blockchain Security and Performance</strong></h3><p><a href="http://p2p.org/?ref=p2p.org">P2P.ORG</a>&nbsp;Validator: Enhancing Network Security and Performance through Advanced Monitoring Solutions. We invite you to be part of this innovative journey to uplift the standards of validator performance monitoring in the Polkadot and Kusama networks.</p><hr><h1 id="about-p2p-validator"><strong>About P2P Validator</strong></h1><p><a href="https://p2p.org/?ref=p2p.org">P2P Validator</a>&nbsp;is a world-leading non-custodial staking provider, securing over $2 billion by over 10,000 delegators/nominators across 25+ high-class networks. We have been actively participating in the Polkadot network since the beginning.</p><hr><h1 id="about-web3-foundation"><strong>About</strong>&nbsp;Web3 Foundation</h1><p>Web3 Foundation funds research and development teams building the technology stack of the decentralized web. Ethereum co-founder and former CTO Gavin Wood established it in Zug, Switzerland. Polkadot is the Foundation's flagship project.</p><hr><p><em>Do not hesitate to ask questions in our&nbsp;</em><a href="https://t.me/P2Pstaking?ref=p2p.org"><em>Telegram chat</em></a><em>&nbsp;or contact Alex via</em>&nbsp;<a href="mailto:[email protected]">[email protected]</a><em>. We are always open for communication.</em></p><hr><p><strong>Web:</strong>&nbsp;<a href="https://p2p.org/?ref=p2p.org">https://p2p.org</a></p><p><strong>Stake DOT with us:</strong>&nbsp;<a href="https://p2p.org/polkadot?ref=p2p.org">https://p2p.org/polkadot</a></p><p><strong>Twitter:</strong>&nbsp;<a href="https://twitter.com/p2pvalidator?ref=p2p.org">@p2pvalidator</a></p><p><strong>Telegram:</strong>&nbsp;<a href="https://t.me/P2Pstaking?ref=p2p.org">https://t.me/P2Pstaking</a></p>