Layerless is the Omnichain Liquid Restaking protocol powered by EigenLayer and LayerZero.

We focus on providing the following two values:

1. Keeping your EigenLayer deposits liquid through ORTs - Omnichain Restaked Tokens.

2. Taking LSDfi and EigenLayer beyond Ethereum.

Omnichain Restaked Tokens - Interoperable and Modular LSDfi

Liquid Staking along with LSTs has opened staked liquidity and added composability. EigenLayer has introduced restaking to extend Ethereum security to the whole Onchain ecosystem. On the other hand, it’s important to keep the potential of LSTs liquid and usable.

We believe that DeFi solutions built atop Ethereum staking will create the biggest impact and growth due to their sustainability and scale. We already see LST-backed stablecoins or lending collateralized with LSTs. And it’s just the beginning.

Moreover, the Ethereum ecosystem shifted towards Modularity. New Rollups are being launched in a matter of minutes utilizing the shared Data Availability layer (Celestia, Near, EigenLayer DA). The future of this space, to remain open, permissionless, and composable requires interoperable and liquid LSDfi.

This is precisely what Omnichain Restaked Tokens are about.

• Interoperable: guaranteed because of the LayerZero omnichain capabilities.

• Liquid: keeping your EigenLayer shares liquid (tokenized) via ORTs.

How it works?

When you deposit your LST (e.g. stETH, cbETH, or rETH) to EigenLayer, it becomes locked. The first thing Layerless does is give you, what we call, „Restaked Tokens”. These special tokens are a fully liquid representation of your EigenLayer deposit. You can use them as any other ERC-20 token.

On top of that, we’re using the LayerZero OFT (Omnichain Fungible Token) standard to make these tokens usable across many chains. Therefore, we’re creating Omnichain Restaked Tokens (ORTs) taking EigenLayer restaking benefits and capabilities beyond Ethereum. We expect that ORTs can become a valuable, easily-composable primitive within various DeFi protocols, for instance as a lending collateral.

1. Deposit your LST (supported by EigenLayer: stETH, cbETH, rETH, etc.) to EigenLayer via Layerless.

2. You receive an ORT (Omnichain Restaked Token) that represents your EigenLayer share making it liquid, composable, and usable in DeFi protocols.

3. LayerZero cross-chain capabilities make your ORT usable on many chains, not just Ethereum. Having in mind how cheaper transactions are on e.g. L2s like Arbitrum, Optimism, Base, Metis, zkSync, Linea, etc., EigenLayer restated tokens can find a lot of use cases outside Ethereum.

Testnet is coming in Q1

We’d like to end this high-level protocol overview with the announcement of the upcoming Testnet. The application will be launched in Q1 with more information to be published soon.