Battleground to begin 'slashing' restakers in April

Eigentlayer Suffers Downtime, Restakers' April Slashing

The Eigentlayer protocol, a popular decentralized finance (DeFi) platform, experienced a period of downtime on April 12, causing significant disruptions to its users. The outage, which lasted for several hours, resulted in the slashing of Restakers' April rewards, according to a statement released by the Eigentlayer team.

Restakers, a yield farming protocol that utilizes Eigentlayer's infrastructure, had previously announced its plans to slash April rewards due to the downtime. The slashing, which affected all Restakers' April stakers, resulted in the loss of significant rewards for many users.

The Eigentlayer team attributed the downtime to a combination of factors, including a high volume of transactions and a sudden surge in user activity. In a statement, the team apologized for the inconvenience caused and assured users that measures were being taken to prevent similar incidents in the future.

Restakers, which has experienced significant growth in recent months, has been affected by the Eigentlayer downtime. The protocol's native token, REST, has seen a significant decline in value following the slashing of April rewards.

The Eigentlayer and Restakers incidents serve as a reminder of the importance of decentralized infrastructure and the need for robust backup systems to prevent downtime. As the DeFi space continues to grow and evolve, the importance of reliable infrastructure will only continue to increase.

In related news, Eigentlayer has announced plans to implement a new backup system to prevent future downtime. The system, which is expected to be implemented in the coming weeks, will provide an additional layer of redundancy and help to ensure the continued smooth operation of the protocol.