Operators

Operators are EigenLayer infrastructure providers who can allocate delegated stake to Aleph vaults on behalf of their restakers.

Operators serve as the bridge between restakers and Aleph vaults. Restakers delegate LST to Operators through EigenLayer, and Operators then decide how to deploy that stake - including allocating to Aleph Vaults. When an Operator allocates, their restakers receive alETH proportional to their delegation.

Key Responsibilities

1. Registration

Operator registers to Aleph AVS operator sets via AllocationManager.registerForOperatorSets()

Before allocating to Aleph Vaults, an Operator must:

1. Register as an EigenLayer operator

2. Register for Aleph AVS operator sets via AllocationManager.registerForOperatorSets()

3. Set AVS split to 0%

2. Vault Selection

Operators choose which Vaults to allocate to. This decision should consider:

• Manager track record and strategy

• Risk profile and historical performance

• Fee structure (management and performance fees)

• Vault capacity and liquidity

• Alignment with restaker expectations

Operators are accountable to their restakers for these decisions.

3. Allocation

Operators allocate by calling allocate() on the AVS with a target Vault and amount. The AVS validates the request, redistributes LST from the Operator's delegation into the Vault, and mints alETH for distribution to restakers.

Events

// Track allocations
event AllocatedToAlephVault(
    address indexed operator,
    address indexed alephVault,
    address originalStrategy,
    address slashedStrategy,
    uint256 amount,
    uint256 vaultShares,
    uint8 classId
)

// Track unallocations
event UnallocateCompleted(
    address indexed tokenHolder,
    address indexed alephVault,
    address originalStrategy,
    address slashedStrategy,
    uint256 amount,
    uint256 shares,
    uint8 classId
)