Intro to Slashing on EigenLayer: Operators' Edition
EigenLayer's slashing launches April 17th, giving Operators control through opt-in participation, Operator Sets, and Unique Stake Allocation—isolating risks while creating new reward opportunities aligned with your specific risk profile.
In December, Eigen Labs announced Slashing on Testnet. The launch of slashing on mainnet is a major milestone for the EigenLayer protocol.
As we continue to progress towards slashing on mainnet, coming April 17th, we want users to be prepared for this switch. This guidebook is for Operators using slashing on mainnet.
Operators and slashing on mainnet:
Here are a few key things Operators need to know about the upcoming slashing implementation:
Opt-in Requirement for Slashing
Operators will not automatically be opted into slashing with the AVSs they are running once slashing is launched on mainnet. Operators will be able to choose whether the AVSs’ conditions are acceptable to them, and they can opt in
Understanding Operator Sets
Operator Sets are the way in which AVSs will manage which Operators are running their infrastructure. The AVS will set the conditions for the OperatorSets and any registration requirements. Operators may have to re-register with Operator Sets, but should communicate with the AVSs they are running (or considering running) to learn their specific requirements and registration flows.
Managing Unique Stake Allocation
Operators will now be able to designate a Unique Stake Allocation for each AVS. Operators can allocate specific portions of their staked security as “Unique Stake,” ensuring that only one AVS has the ability to slash that stake. Operators can also designate specific staking amounts to multiple AVSs if they wish to.This isolates slashing risks and strengthens security guarantees for AVSs without exposing Operators to unnecessary risks from unrelated tasks.
Preparing for Breaking Changes
Even though Operators will not be automatically opted in to slashing feature, Operators should be prepared on April 17th for some breaking changes to run EigenLayer on mainnet. Some onchain interaction flows have changed in our interfaces and code paths. These changes partially include updates needed to Custom Errors, Operator Registration, State Introspection, Updating the Metadata URI and Operator Details, Withdrawal Delay, and Queuing Withdrawals. You can find detailed instructions around breaking changes here.
Why should Operators be excited about slashing on mainnet?
This launch provides Operators with real insight into the priorities of the AVSs they are running, and they will be able to align their own risk profile with the AVSs that align with them (and new avenues for AVSs to distribute rewards). Slashing is a major step forward in this flywheel because this release marks a feature-complete protocol for AVSs to begin rewarding and enforcing commitments based on the needs of their service.
Tom Hay from Infura further explains the real benefits and opportunities for Operators in our Slashing Podcast:
Operators can learn more by joining the Discord and Forum. You can also watch our full podcast where we discuss slashing and its impacts on the EigenLayer ecosystem, here.