Crypto.com Supports the EigenLayer Upgrade

What to expect for your staked ETH before and after the Upgrade

Crypto.com will be supporting the EigenLayer Upgrade for ETH staking. On 4 September 2024, Eigen Labs will be performing a technical upgrade to achieve greater efficiency and improved compatibility for future changes. 

What does the upgrade mean for users using Crypto.com to restake ETH on EigenLayer?

1. For users who want to restake ETH to EigenLayer: Restaking remains operational and users can make staking requests.
2. For users with restaked ETH on EigenLayer: No action is required from users. Please see below for the impact on staking reward distribution.
3. For users who want to unstake from EigenLayer: Unstaking requests can continue to be made, but they will only be processed after the upgrade is completed around mid-September. Please note that unstaking involves a 17-day withdrawal delay, in line with EigenLayer’s protocol and the Ethereum mainnet’s beacon chain exit time.

Other staking tokens will not be impacted. 

Impact on EigenLayer Staking Reward Distribution

Rewards accrued on-chain up to 4 September 2024 will be distributed to users’ Wallets as usual. During the EigenLayer upgrade period (4 September to mid-September 2024), users will continue to receive rewards, but no reward distributions will be made during this time. After the upgrade is completed around mid-September, the rewards that have accrued on-chain during and after the upgrade period will be distributed to users’ Wallets as usual.