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Ethereum Foundation (ESP)
Supporting the growth of the Ethereum ecosystem through core protocol research, development, and education.
Obol Collective
Building trust-minimized staking technology for Ethereum through distributed validator technology.
Risk Overview
A comprehensive view of key metrics and associated risks in the EigenLayer ecosystem
Total Restaked Value (ETH)
ETH value of all restaked assets (includes Beacon Chain ETH, stETH, EIGEN, etc.)
Active Operators
Number of active operators securing the network (with more than 0 restaked assets)
Active Restakers
Number of unique addresses restaking ETH (with more than 0 restaked assets)
Top 5 Operators Control
Percentage of all restaked ETH controlled by the top 5 operators
Top 20 Restakers Control
Percentage of all restaked ETH controlled by the top 20 restaker wallets
Strategy Count
Number of active strategies in the EigenLayer ecosystem
ETH Restaked vs. Total Supply
? ETH restaked out of ? total ETH in circulation
stETH Restaked vs. Total Supply
? stETH restaked out of ? total stETH in circulation
Combined Ecosystem Impact
Percentage of combined ETH and stETH in circulation restaked in EigenLayer (? out of ? total)
Critical Risk Metrics
Governance Risk: EigenLayer relies on a 9-of-13 community multisig that can execute IMMEDIATE upgrades without a timelock.
Operator Concentration: Just operators control 33% of restaked ETH. Their compromise or collusion could trigger a cascading effect.
Major Operator Risk: Between P2P (%) and Node Monster (%), these two professional operators control % of total restaked assets.
Restaker Concentration: The top individual restakers control 33% of all restaked assets.
Strategy Risk: Multiple strategies have critical concentration where a small number of operators control a significant percentage of assets. This puts worth of assets at risk from operator collusion or compromise.
Risk Dashboard
Only 2 out of 19 AVSs allow operators without whitelisting
Strategy Risk Summary
Critical Concentration
0 StrategiesTop 5 operators control 75%+ of assets in these strategies
Moderate Concentration
0 StrategiesTop 5 operators control 50-75% of assets in these strategies
Healthy Distribution
0 StrategiesTop 5 operators control less than 50% of assets in these strategies
Want to help improve EigenLayer's risk profile?
Stake with smaller operators or become an operator yourself to increase network decentralization.
Detailed Risk Analysis
In-depth explanation of key risk factors in the EigenLayer ecosystem
Professional Operator Dominance in EigenLayer
A few professional operator groups control a significant portion of the network through multiple individual nodes. This visualization shows the relative size of each major operator group's assets (converted to ETH value equivalent), with larger boxes representing more concentrated control.
Key Insights:
- â ī¸Professional operator groups dominate EigenLayer, with P2P controlling 0.0% of all restaked assets (ETH value).
- đThe two largest operator groups (P2P and Node Monster) together control 0.0% of all network assets (in ETH value).
- đBox size represents the ETH value of all assets held by each professional operator group - larger boxes indicate more concentrated control.
- âšī¸Note: Professional operators like P2P may operate nodes for multiple companies such as Puffer, Swell, etc. Visit the Operators tab for more detailed breakdown.
How to interpret this visualization:
Each box represents a professional operator group that may manage multiple individual nodes (often for different companies/clients), with the size proportional to the ETH value of all their restaked assets (including Beacon Chain ETH, stETH, and other assets converted to ETH value). Larger boxes indicate more concentrated control over the network. The dominance of a few large boxes highlights centralization risks in EigenLayer's current state. Hover over any box to see detailed statistics about each operator group's control over the network.
Top 20 EigenLayer Whales
A small number of individual restakers hold a significant portion of the restaked assets in EigenLayer. These "whales" can have a considerable impact on the network's security and centralization.
Key Insights:
- â ī¸Just 20 wallets hold a substantial percentage of all restaked assets, creating potential centralization concerns.
- đThese whale addresses may represent individuals, institutions, or smart contracts.
đDo you know who these whales are? Help us identify them! Contact us at @espejelomar on Telegram
EigenLayer Metrics Roadmap
Our upcoming milestones and metrics implementation for the EigenLayer ecosystem
About restake.watch
The analytics platform for the restaking ecosystem.
Restake Watch brings transparency to the restaking ecosystem through objective, data-driven analysis of protocols, operators, and AVSs. We strive to be the trusted source of information for users navigating restaking complexities.
Our Values
- Objectivity: Unbiased analysis based on data
- Transparency: Open methodologies
- Independence: Independent from analyzed protocols
Our Impact
- Backed by Ethereum Foundation (ESP) and Obol Collective
- Helped safeguard millions in assets
- Established standards for analyzing restaking risks
Have information or insights?
We're seeking funding and valuable knowledge to improve our monitoring.