Opening up EigenLayer airdrop to all retail users on Mint Blockchain

Author’s Information:

Simple Summary: This NIP proposes the integration of a liquid staking mechanism on Mint Blockchain’s NFTs to store users’ stakes and generated yields, driving Total Value Locked (TVL) and fostering ecosystem growth.

Abstract: The NIP aims to introduce liquid staking capabilities on Mint Blockchain, leveraging Non-Fungible Tokens (NFTs) to represent users’ stakes and the yields generated. Users can stake Ethereum (ETH) directly into the Eigen Layer Direct Staking Pool, earning Eigen Layer Points while contributing to the network’s security and stability. Through strategic partnerships with leading node providers and stakeholders, the process of staking to Eigen Layer becomes streamlined and accessible to a broader user base since normal retail users cannot get access to EigenLayer if they do not hold 32 ETH. The proposal enhances the attractiveness of Mint Blockchain by offering users the opportunity to participate in staking activities and earn rewards seamlessly.

Motivation: The integration of liquid staking using NFTs on Mint Blockchain addresses the growing demand for staking opportunities within the cryptocurrency ecosystem. By providing users with a straightforward method to stake their ETH holdings and earn rewards stored directly within NFTs, Mint Blockchain can attract a wider audience of investors and enthusiasts hence growing it’s TVL, Mantle has done a similar approach with huge success, now one of the largest LSD beside of Lido. Additionally, the collaboration with multiple node providers ensures diversification, reliability, and accessibility in the staking process, further enhancing user experience and ecosystem resilience.

Rationale: Liquid staking using NFTs on Mint Blockchain offers several key benefits. Firstly, it expands the utility of ETH holdings by allowing users to earn rewards stored within NFTs while maintaining liquidity. This flexibility appeals to investors seeking to maximize returns without locking up their funds for extended periods. Secondly, the integration of liquid staking drives TVL into Mint Blockchain, bolstering its security and network effects. Finally, partnerships with leading node providers ensure reliable and efficient staking operations, instilling confidence among users and stakeholders.

Specification: The liquid staking mechanism will be implemented through a dedicated interface on the Mint Blockchain platform, allowing users to seamlessly stake their ETH holdings into the Eigen Layer Direct Staking Pool. Each staked amount will be represented by the unique NFT token, which also stores the generated yields. The process will be intuitive and user-friendly, with clear instructions provided at each step. Smart contracts governing the staking process and NFT management will undergo rigorous testing and auditing to ensure security and reliability. Additionally, regular updates and improvements will be made based on community feedback and technological advancements.

Open-source Commitment: I commit to open-sourcing the NIP and grant permission for developers within the Mint Blockchain ecosystem to build protocols and applications based on this proposal.

I am the institution partnership manager at p2p, one of the largest node providers with the infrastructure to set up validators along with a lot of contacts in the industry. P2P is also an early investor of Eigen Layer, which can streamline the process of staking to Eigen Layer.