Summary
Ketju does not approve EigenCloud (EigenLayer): a Pauser Multisig can halt its restaking and withdrawal contracts, and we could not find who signs it. Its slashing risk is also complex and correlated. EigenCloud is the June 2025 new name for EigenLayer, which folded EigenDA, EigenCompute, EigenAI and EigenVerify into one platform. A client can deposit ETH or liquid staking tokens to lend Ethereum’s economic security to third-party services called Actively Validated Services (AVSs). Restakers earn extra yield and accept slashing risk that is correlated across every AVS they delegate to. Slashing went live on mainnet on 2025-04-17, so restaking now carries a real, enforced penalty. We found no protocol-level process to settle a disputed slashing, a real gap now that more than 190 independent AVS teams can each slash. The EIGEN token carries geo-blocking, eligibility terms at the Foundation’s sole discretion, and multi-year lockups on some allocations.
Review triggers
- The signers and threshold of the Pauser Multisig, and who holds upgrade authority over the restaking and withdrawal contracts, are publicly disclosed
- A protocol-level dispute-resolution mechanism for contested slashing events is documented
- EIGEN token transferability and geographic eligibility terms are confirmed current and unrestricted for the US clients Ketju's advisors serve
- Slashing incidents at the AVS level are tracked independently and show no material undisclosed loss
Facts
- Verdict
- Not approved
- Type
- ETH staking
- Chains examined
- Ethereum
- Reviewed
- Last confirmed