# AVS Screening - OpenLayer ## OpenLayer Contract address: 00xF7fcff55d5FDAf2C3Bbeb140Be5e62a2c7D26Db3 Website: https://www.openlayer.tech/ Twitter: https://x.com/OpenLayerHQ Docs: https://openlayer.gitbook.io/openlayer Blog: https://medium.com/@openlayer AVS Category: Web3 Infra ETH Restaked: 1.88m ETH Total Operators: 51 Total restakers: 193,470 Competitors: Brevis coChain, Automata AVS Mainnet Date: May 9, 2024 Economic Security wanted: $6.65b Operator limits: None Points program: N/A ### AVS Description OpenLayer is a decentralized data layer that leverages user participation to facilitate data validation in a secure, efficient, and transparent manner. The platform combines optimistic execution, cryptographic verification, and decentralized physical infrastructure networks (DePIN) to enhance the validation process. OpenLayer employs validation-as-a-service model that shortens the challenge period for transactions, speeding up the validation process and increasing efficiency. ### Unique Selling Proposition OpenLayer AVS allows any user to become a node operator with minimal hardware requirements, democratizing access to blockchain participation. The use of assets restaking provides a strong deterrent against malicious behavior, ensuring network security. Executors can run on various devices, making it easy for a wide range of users to contribute to the network without the need for specialized hardware. By leveraging EigenLayer, OpenLayer AVS can bring any data from the public internet on-chain, expanding the types of data that can be securely and verifiably accessed within the blockchain. The system's use of lightweight cryptographic commitments and cryptographic fraud proofs ensures that all data and transactions are transparent and verifiable by anyone. ### Economic Model OpenLayer's provision for multi-token staking, as outlined in their [documentation](https://openlayer.gitbook.io/openlayer/openlayer-avs/multi-token-staking), suggests potential for diverse application use cases, particularly where the security requisite is proportionate to the token value of the engaging ecosystem. More details remain to be disclosed. ### Points Program N/A ### Builders OpenLayer AVS is developed by a team with experience at Robinhood, Meta, Google, Dropbox, UC Berkeley, and Peking University. Lack of transparency regarding the identity of the founding team and core members on the official website, coupled with the absence of verifiable public records. ### Backers Investors: a16z CSX, Geometry Ventures, LongHash Ventures. Grants from the Ethereum Foundation, Optimism, and Arbitrum.​ Partnerships: Avail, PublicAI, Movement, Sei, Plume Network, Drosera, Avail, Meter, CyberConnect ### Centralization Contract owner is unidentified EOA: https://etherscan.io/address/0x4ca6ede3ad91d480efabc384ac6b8ccd5547b7d8 ### Security Third-party security audits have not been carried out, at least there is no official publication of such. ### Maturity Mainnet date: May 9, 2024 Holesky date: April 5, 2024 No github repo founded. ### Opt Out Exit conditions for operators choosing to withdraw from the validation process have not been specified. ### Regulatory Complexity Low risk of legal challenges is anticipated for the project, rooted in its infrastructural nature, which positions it to be regulatory agnostic. ### Risk Considerations - The control is centralised in EOA, allegedly controlled by non-doxxed individual(s); - Unknown founders; - The economic model relies on the promise of further details "coming soon"; - The absence of publicly disclosed third-party security audits;