In the statement made on October 16, it was stated that this step of P2P attracted attention in the increasing competitive environment.

In September, EigenLayer announced its intention to increase rewards for retakers with “programmatic incentives” denominated in the protocol’s native token, EIGEN. P2P believes this gives it a significant advantage as the largest validator on EigenLayer.

“The new revenue initiative is the first of its kind launched from a staking validator and comes as other infrastructure providers prepare to launch incentive programs,” P2P said in its Oct. 16 statement.

EigenLayer, Ethereum’s largest restaking platform, secures many third-party protocols with over $11 billion in restacked collateral.

Re-staking involves the process of taking an already staked token and using it to secure other protocols at the same time. This process allows investors to earn higher returns.

P2P is responsible for more than $475 million in reinstated collateral as of October 15. It also offers staking support for other assets such as Bitcoin and Ether and has $7.5 billion in total value lock (TVL).

P2P competes with many other operators, including staking-as-a-service providers such as Figment, Blockdaemon, and Ankr. P2P stated that it made the revenue sharing program valid for retakers who delegated to P2P before August 15.

In an interview with Cointelegraph, EigenLayer founder Sreeram Kannan stated that onboarding users to the platform following EIGEN’s October 1 unlock is among his primary goals.

The unlocking of EIGEN stands out as one of the most anticipated events of 2024, putting pressure on EigenLayer to increase revenues from AVSs (active verification services). A portion of these revenues will flow to EIGEN stakers.

EigenLayer’s programmatic incentives will reward retakers with EIGEN emissions accounting for approximately 4% of the token’s total supply.

Kannan said, “Stakers will receive programmatic rewards based on how many AVS services they provide, and AVSs will pay fees to stakers and operators. “As more AVS pays out, more value will be allocated,” he said.

These developments form an important part of P2P’s efforts to strengthen its position on EigenLayer and attract more users to the platform. Especially considering the growth and developments in the Ethereum ecosystem, it seems that P2P aims to increase its competitive advantage in the sector with these strategies.

This new revenue sharing program implemented by P2P can help EigenLayer reach a wider user base while providing more opportunities for stakers.