A comprehensive analysis of the EigenLayer Actively Validated Services (AVS) ecosystem, providing insights into market dynamics, operator networks, competitive landscape, and strategic patterns.
- Total AVS: 12
- Total AVS TVL: $57,118,183,250.17
- Average TVL per AVS: $4,759,848,604.18
| Rank | Name | Operators | Stakers | TVL (USD) |
|---|---|---|---|---|
| 1 | EigenDA | 258 | 138,789 | $9,626.1M |
| 2 | eoracle | 103 | 104,133 | $6,034.7M |
| 3 | Witness Chain | 74 | 91,487 | $5,967.9M |
| 4 | Lagrange State Committees | 61 | 83,734 | $5,363.5M |
| 5 | Lagrange ZK Prover Network | 47 | 88,870 | $5,053.0M |
| 6 | OpenLayer | 49 | 90,068 | $5,018.0M |
| 7 | Brevis coChain AVS | 71 | 89,755 | $4,710.9M |
| 8 | Automata Multi-Prover AVS | 64 | 102,029 | $4,505.7M |
| 9 | Xterio Mach (Powered by AltLayer) | 42 | 85,066 | $3,576.1M |
| 10 | AltLayer MACH | 42 | 85,066 | $3,576.1M |
| TVL Range | AVS Count | Total TVL | Avg Operators | Avg Stakers |
|---|---|---|---|---|
| <$1M | 0 | $0.0M | - | - |
| $1M-$10M | 0 | $0.0M | - | - |
| $10M-$100M | 0 | $0.0M | - | - |
| $100M-$1B | 1 | $477.4M | 34.0 | 55,081 |
| >$1B | 11 | $56,640.8M | 78.3 | 94,585 |
- Operator pairs with shared AVS: 4,786
- Max shared AVS between operators: 12
- Average shared AVS: 2.8
0x1f8c8b...↔0x2e68d0...: 12 shared AVS0xa83e07...↔0xe483c7...: 12 shared AVS0x46b3f7...↔0xe58013...: 12 shared AVS0xa83e07...↔0xea9f73...: 12 shared AVS0xe58013...↔0xea9f73...: 12 shared AVS
- Median operators per AVS: 56
- Most popular AVS: EigenDA (258 operators)
- Median stakers per AVS: 89,312
- Highest staker engagement: EigenDA (138,789 stakers)
- 🎯 Market concentration: Top 3 AVS control 37.9% of TVL
- ⚡ Most capital efficient: Lagrange ZK Prover Network ($107.5M TVL per operator)
- 🌐 Strongest network effects: EigenDA (258 operators participating)
| AVS | Operators | Competing AVS |
|---|---|---|
| EigenDA | 98 | 11 |
| eoracle | 59 | 11 |
| Witness Chain | 50 | 11 |
| Lagrange State Committees | 48 | 11 |
| Automata Multi-Prover AVS | 45 | 11 |
| Brevis coChain AVS | 43 | 11 |
| OpenLayer | 38 | 11 |
| Lagrange ZK Prover Network | 34 | 11 |
- Total strategies: 4
- Total value locked: $286,436,865.97
- Total operators using strategies: 8
| Strategy | Operators | Total Tokens | USD Value | % of Total |
|---|---|---|---|---|
| stETH | 2 | 99,487.40 | $249.1M | 87.0% |
| EIGEN | 2 | 22,230,873.14 | $30.9M | 10.8% |
| rETH | 2 | 2,044.68 | $5.8M | 2.0% |
| cbETH | 2 | 217.99 | $0.6M | 0.2% |
- Dominant strategy: stETH (87.0% market share)
- Market concentration (HHI): 7,684 (High concentration)
- Top 2 strategies: 97.8% of market
- Top 3 strategies: 99.8% of market
Average Value per Operator by Strategy:
- stETH: $124.6M per operator
- EIGEN: $15.5M per operator
- rETH: $2.9M per operator
- cbETH: $0.3M per operator
-
P2P.org [all AVS]: 4 strategies
- Strategies: cbETH, rETH, stETH, EIGEN
- Total value: $283.6M
-
Eigenpie by P2P.org: 4 strategies
- Strategies: stETH, EIGEN, rETH, cbETH
- Total value: $2.9M
TVL per Staker Statistics:
- Median: $101,638
- Mean: $15,088,040
- Std Dev: $63,193,298
Top 5 Most Capital Efficient (TVL/Staker):
- Renzo Operated By P2P.org: $336,589,021/staker
- Renzo Operated By Luganodes: $336,533,495/staker
- Renzo Operated by Figment: $336,360,000/staker
- Renzo Operated by Pier Two: $229,528,923/staker
- InfStones Enterprise: $112,608,599/staker
Network Metrics:
- AVS pairs with shared operators: 66
- Max shared operators: 59
- Average shared operators: 28.1
- Network density: 0.031 (Sparse network)
Strongest AVS Connections:
- eoracle ↔ EigenDA: 59 operators
- EigenDA ↔ Witness Chain: 50 operators
- Lagrange State Committees ↔ EigenDA: 48 operators
Risk Indicators:
- HHI Index: 7,684 (HIGH concentration)
- Dominant strategy: stETH (87.0%)
- All strategies show HIGH operator concentration risk (>87% max operator share)
Current System State:
- Total operators: 100
- Total AVS: 12
- Total TVL: $58,415,311,509.14
- EigenLayer penetration: 116.8% of ETH staking market
Growth Projections:
- 3-month TVL: $88.8B
- 6-month TVL: $135.1B
- Annual TVL: $312.5B
| Type | Count | % of Total | Avg TVL | Avg Stakers | Avg AVS |
|---|---|---|---|---|---|
| Diversified | 46 | 46.5% | $127.0M | 1,961 | 8.9 |
| Specialist | 34 | 34.3% | $92.7M | 882 | 1.2 |
| Moderate | 19 | 19.2% | $37.1M | 868 | 4.0 |
Success Factor Leaders:
- Specialist: ether.fi-8 - DSRV (TVL: $471.4M, AVS: 1)
- Moderate: ether.fi-3 - DSRV (TVL: $271.0M, AVS: 4)
- Diversified: P2P.org [all AVS] (TVL: $928.8M, AVS: 11)
Analysis includes comprehensive metrics on AVS ecosystem dynamics, operator relationships, competitive positioning, and strategic patterns within the EigenLayer network.