What it measures
Capital restaked (EigenLayer & co.) — the size of the restaking security market.
Restaking TVL measures the capital committed to restaking protocols — EigenLayer and its peers — where staked ETH is re-pledged to secure additional services in exchange for extra yield. It sizes the market for “rented security”, one of crypto’s youngest and most contested theses.
How to read it
This is a speculative-thesis gauge and should be read skeptically: TVL boomed on airdrop expectations, then contracted hard once slashing became real and yields compressed — from roughly $15B at peak to half that. The number to watch is not the level but the composition: TVL that stays after incentives fade, and services (AVSs) with genuinely paying customers, would validate the thesis. Renewed growth on hype alone would not.
Theses riding on this indicator
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Frequently asked questions
What is restaking?
Re-using already-staked ETH as collateral to secure additional protocols (actively validated services), earning extra yield in return — but also taking on additional slashing risk. It effectively rents Ethereum’s economic security to new services.
Why did restaking TVL fall from its peak?
Early TVL was dominated by airdrop farming; when incentives normalized, capital left. Slashing also became real in 2025, repricing the risk side of the trade. The contraction is one of the clearest recent examples of incentive-driven TVL versus organic demand.
Where does this data come from?
From DeFiLlama’s restaking category, refreshed daily by the Moonkelp agent. The history is short because the category itself is young.
Data & method
Collected automatically by the Moonkelp agent, validated against plausibility bands before anything is written. How the pipeline works →
Related indicators
This indicator is one tile of the daily briefing —read today’s full market picture →