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Copy file name to clipboardExpand all lines: docs/developers/avs-developer-guide.md
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## What is an Autonomous Verifiable Service (AVS)?
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An Autonomous Verifiable Service (AVS) on EigenLayer is a decentralized service built on Ethereum that provides custom verification mechanisms of off-chain operations. Please see the [Intro to EigenLayer](https://docs.eigenlayer.xyz/eigenlayer/overview/) for background context on the broader EigenLayer ecosystem.
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An AVS is composed of on-chain contracts for verification and an off-chain network of Operators. Operators execute the service on behalf of the AVS and then post evidence of their execution on-chain to the AVS contracts. Tasks can be initiated via on-chain contracts, off-chain via direct communication with the Operators, or via a task aggregator entity.
Copy file name to clipboardExpand all lines: docs/eigenlayer/deployed-contracts/deployed-contracts.md
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## EigenLayer Core Restaking Contracts
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The EigenLayer core contracts are located in this repo: [`Layr-Labs/eigenlayer-contracts`](https://github.com/Layr-Labs/eigenlayer-contracts). They enable restaking of liquid staking tokens (LSTs) and beacon chain ETH to secure new services, called AVSs (actively validated services).
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The EigenLayer core contracts are located in this repo: [`Layr-Labs/eigenlayer-contracts`](https://github.com/Layr-Labs/eigenlayer-contracts). They enable restaking of liquid staking tokens (LSTs) and beacon chain ETH to secure new services, called AVSs (Autonomous Verifiable Services).
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No, EigenLayer is not a DeFi protocol. EigenLayer is a platform to bootstrap new proof of stake (PoS) systems. Through the EigenLayer protocol, users CANNOT engage in any financial activities such as swapping and lending.
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However, for the decentralized services built on top of EigenLayer (we call them AVSs, Actively Validated Services), these services could be DeFi applications themselves or support key functionalities in other DeFi protocols. These AVSs are external to the EigenLayer contracts.
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However, for the decentralized services built on top of EigenLayer (we call them AVSs, Autonomous Verifiable Services), these services could be DeFi applications themselves or support key functionalities in other DeFi protocols. These AVSs are external to the EigenLayer contracts.
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Moreover, another class of protocols built on top of EigenLayer is called liquid restaking token (LRT). They function similarly to liquid staking tokens. They are permissionlessly built on EigenLayer. We urge users to do their own research before interacting with LRTs.
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Building a new Web3 service comes with significant challenges: bootstrapping crypto-economic security and assembling a reliable network of Operators. Meanwhile, the Web3 ecosystem is rich with opportunities, including a surplus of asset holders eager to earn rewards and skilled Operators seeking to expand into new, value-driven services. EigenLayer bridges this gap, aligning incentives and unlocking untapped potential for both builders and the broader community.
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EigenLayer is a protocol built on Ethereum that introduces Restaking, a new primitive for Web3 builders that provides a "marketplace for trust" bringing together Restakers, Operators, and Actively Validated Services (AVSs). It allows users to stake assets such as Native ETH, Liquid Staking Tokens (LSTs), the EIGEN token, or any ERC20 token into EigenLayer smart contracts, thereby extending Ethereum's cryptoeconomic security to additional applications on the network. It fosters innovation by enabling newer projects to benefit from Ethereum’s robust security guarantees without the need to replicate the costly process of securing their own network.
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EigenLayer is a protocol built on Ethereum that introduces Restaking, a new primitive for Web3 builders that provides a "marketplace for trust" bringing together Restakers, Operators, and Autonomous Verifiable Services (AVSs). It allows users to stake assets such as Native ETH, Liquid Staking Tokens (LSTs), the EIGEN token, or any ERC20 token into EigenLayer smart contracts, thereby extending Ethereum's cryptoeconomic security to additional applications on the network. It fosters innovation by enabling newer projects to benefit from Ethereum’s robust security guarantees without the need to replicate the costly process of securing their own network.
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AVSs have tools to make economic commitments to their end users, such as proper or fair execution of their code run by Operators. The [Rewards v2 (currently in Testnet) upgrade](https://github.com/eigenfoundation/ELIPs/blob/main/ELIPs/ELIP-001.md#eigenlayer-improvement-proposal-001-rewards-v2) enables AVSs to issue rewards to Operators and Stakers when the AVS’ services are properly run (the carrot). The [Slashing and Operator Sets](https://github.com/eigenfoundation/ELIPs/blob/main/ELIPs/ELIP-002.md) (currently in Testnet) upgrade gives AVSs the ability to slash stake in instances where the commitments to properly run their services are broken (the stick).
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The core components of the EigenLayer protocol include:
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-**Restaking** enables stakers to restake their Native ETH or Liquid Staking Tokens (LST) to provide security for services in the EigenLayer ecosystem, known as Actively Validated Services (AVSs).
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-**Actively Validated Services (AVSs)** are services built on the EigenLayer protocol that leverage Ethereum's shared security. AVSs deliver services to users and the broader Web3 ecosystem.
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-**Restaking** enables stakers to restake their Native ETH or Liquid Staking Tokens (LST) to provide security for services in the EigenLayer ecosystem, known as Autonomous Verifiable Services (AVSs).
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-**Autonomous Verifiable Services (AVSs)** are services built on the EigenLayer protocol that leverage Ethereum's shared security. AVSs deliver services to users and the broader Web3 ecosystem.
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-**Operators** are entities that run AVS software and perform validation tasks for AVSs built on EigenLayer. They register in EigenLayer and allow stakers to delegate to them, then opt in to provide various services (AVSs) built on top of EigenLayer.
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-**Delegation** is the process where stakers delegate their restaked ETH or LSTs to Operators or run validation services themselves, effectively becoming an Operator. This process involves a double opt-in between both parties, ensuring mutual agreement. Restakers retain agency over their stake and choose which AVSs they opt-in to validate for.
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- EigenLayer **Rewards** enables AVSs to make rewards distributions to stakers and operators that opt-in to support the AVS. AVSs make RewardsSubmissions to the RewardsCoordinator, a core protocol contract.
Copy file name to clipboardExpand all lines: docs/eigenlayer/overview/key-terms.md
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-**Actively Validated Services (AVS):** a service built externally to EigenLayer that requires verification by a set of Operators. An AVS deploys its service manager to interact with EigenLayer core contracts that allow for Operator registration to Operator Sets, slashing, and rewards distribution. Once registered, an Operator agrees to run the AVS’s off-chain code.
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-**Autonomous Verifiable Services (AVS):** a service built externally to EigenLayer that requires active verification by a set of Operators. An AVS deploys its service manager to interact with EigenLayer core contracts that allow for Operator registration to Operator Sets, slashing, and rewards distribution. Once registered, an Operator agrees to run the AVS’s off-chain code.
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-**Allocation / Deallocation:** an in-protocol commitment of security to an AVS’s Operator Set by an Operator. The act of allocating demarcates portions of an Operator’s delegated stake as Unique Stake, making it slashable by a single AVS. Deallocation is the same process in reverse, subject to additional time delays that ensure AVSs can appropriately slash for tasks that have occurred in the past.
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