Restaking 協議
EigenLayer
是否發幣: 未發幣
支援質押幣種: ankrETH、cbETH、wBETH、oETH、swETH、stETH、ETHx、osETH等
是否多重積分累積: EigenLayer 積分
Kelp DAO
是否發幣: 未發幣
支援質押幣種: ETHx、sfrxETH、stETH
是否多重積分累積: 是
ether.fi
是否發幣: 未發幣
支援質押幣種: ETH
是否多重積分累積: 是
Eigenpie
是否發幣: 未發幣
支援質押幣種: swETH、wBETH、mETH、sfrxETH、rETH、stETH等
是否多重積分累積: 即將推出 EigenLayer 積分
Renzo
是否發幣: 未發幣
支援質押幣種: ETH
是否多重積分累積: 是
Puffer Finance
是否發幣: 未發幣
支援質押幣種: stETH、wstETH
是否多重積分累積: 是
Swell Network
是否發幣: 未發幣
支援質押幣種: ETH
是否多重積分累積: 是
Stakestone
是否發幣: 未發幣
支援質押幣種: ETH
是否多重積分累積: 暫無
ClayStack
是否發幣: 未發幣
支援質押幣種: ETH、rETH、stETH
是否多重積分累積: 是
Inception
是否發幣: 未發幣
支援質押幣種: stETH、rETH、ankrETH、cbETH、wBETH、oETH、osETH、swETH、ETHx、sfrxETH、mETH等
是否多重積分累積: 否
Sommelier Finance
是否發幣: 是
支援質押幣種: eETH、stETH、swETH
是否多重積分累積: 是
Astrid
是否發幣: 未發幣
支援質押幣種: stETH、rETH或cbETH
是否多重積分累積: 暫無
GenesisLRT
是否發幣: 未發幣
支援質押幣種: ETH
是否多重積分累積: 暫無
Rest Finance
是否發幣: 未發幣
支援質押幣種: ETH、stETH、rETH、cbETH等
是否多重積分累積: 是
Restake Finance DAO (RestakeFi)
是否發幣: 未發幣
支援質押幣種: LST
是否多重積分累積: 是
StakeEase
是否發幣: 未發幣
支援質押幣種: LST
是否多重積分累積: 否
YieldNest
Euclid Finance
是否發幣: 未發幣
支援質押幣種: ETH、LST
是否多重積分累積: 是
Rio Network
Layerless
LRTFi
Agilely
Entangle
Ion Protocol
Pendle
是否發幣: 是
支援質押幣種: eETH、reETH、ezETH
是否多重積分累積: 是
Equilibria
Maverick Protocol
Davos
Ender Protocol
Restaking 公鏈
Supermeta
Tenet
Karak
Omni Network
Restaking 基礎設施
AltLayer
Exocore
是否發幣: 未發幣
支援質押幣種: LST，產品尚未上線
是否多重積分累積: 否
SSV Network
Hyperlane
Ethos
Polygon 生態
Polygon 2.0
是否發幣: 是
支援質押幣種: POL
NEAR 生態
LiNEAR Protocol
是否發幣: 是
支援質押幣種: bLiNEAR、LiETH
是否多重積分累積: 是
Octopus Network
是否發幣: 是
支援質押幣種: NEAR
Solana 生態
Picasso
比特幣生態
Babylon
BNB Chain 生態
Yield 24
是否發幣: 是
支援質押幣種: ETH、BNB、BTC、穩定幣或LRT
是否多重積分累積: 是
Berachain 生態
Beradrome
其他
Origin DeFi
Redacted Cartel (Dinero)
2024年，距离「质押年」这个预测还差一波大行情。
从Cosmos、Solana生态到以太坊，质押已经是行业公认的财富密码。随着以太坊流动性质押与资本效率需求的提高，EigenLayer发币预期、AltLayer空投大毛与Renzo融资信息直接引爆Restaking大战。Restaking由EigenLayer创办人Sreeram Kannan首次提出，允许将已经质押在以太坊上的ETH，再次质押在其他共识协议上，让其共享到以太坊的经济安全性，保证自身的安全启动和执行。
目前，Renzo、ether.fi、Kelp DAO、Eigenpie、Swell、Puffer Finance等以太坊LRT项目的空投积分计划带动了市场的FOMO情绪。在这些主流项目之外，Restaking赛道是否还有其他机会？为此，笔者对Restaking赛道做一简要盘点，共整理47个项目，以太坊Restaking协议有20个，全链LRT协议则有7个。除EigenLayer与以太坊相关协议、LRTFi、基础设施外，笔者也整理了部分Cosmos、NEAR、Solana、比特币、BNB Chain、Polygon、Berachain等其他公链Restaking项目，以享读者。
EigenLayer
是以太坊再质押协议，也是再质押赛道的龙头，支持ankrETH、cbETH、wBETH、oETH、swETH、stETH、ETHx、osETH等LST代币，以太坊验证节点还可使用原生ETH再质押。据DefiLlama数据显示，EigenLayer TVL已超过20亿美元，自12月18日涨超7倍。
近期，EigenLayer推出EigenLayer和EigenDA的第二阶段测试网，主网将于2024年上半年启动。第三阶段将引入EigenDA之外的AVS（主动验证服务），预计第三阶段将于2024年进入测试网和主网。同时，EigenLayer还计划为DApps提供「共享安全」模式，该模式将允许协议通过利用公共以太坊质押池加入网络。此外，EigenLayer上的以太坊再质押金额（目前超17亿美元）能够同时提供给网络上开发的所有服务，以实现共同的安全机制。
2023年2月，EigenLayer背后团队EigenLabs完成5000万美元A轮融资，Blockchain Capital领投，Coinbase Ventures、Polychain Capital、Hack VC、Electric Capital、IOSG Ventures等参投，估值条款没有披露。
EigenLayer尚未发币，但已推出「再质押积分」，根据用户再质押时间与金额发放。目前，EigenLayer将再质押开放窗口延后至2月6日至2月10日，并为所有LST取消上限。
Kelp DAO
是一个多链流动性质押平台，其创办人此前创立了流动性质押协议Stader Labs，Stader在Polygon与BNB Chain上均是第二大LSD协议。据DefiLlama数据显示，Kelp DAO TVL现为2.55亿美元。
Kelp DAO目前正在EigenLayer上构建LRT解决方案，其再质押代币为rsETH，目前支持的LST包括ETHx（Stader）、sfrxETH（Frax）与stETH（Lido）。使用者可将上述资产再质押换取rsETH，reETH价格目前是各种奖励与已质押LST的基础价格。rsETH可用于其他DeFi协议。
目前，Kelp DAO已推出Kelp Miles激励。Kelp Miles用于追踪使用者对Kelp的贡献，并用于确定未来的奖励分配比例。Kelp Miles取决于使用者的LST再质押数量与质押天数。此前2023年12月12日至2024年1月1日质押LST的使用者，可在未来3个月内获得1.25倍Kelp Miles。1月1日之后质押LST的使用者将照常获得Kelp Miles奖励。
此外，所有在EigenLayer存款上限关闭前在Kelp上重质押的使用者均有资格获得EigenLayer Points，该积分将根据使用者存入LST数量进行分配。
ether.fi是一个流动性质押平台，已于2023年11月15日推出其流动性再质押代币eETH，允许使用者抵押其ETH以获得质押奖励，并自动在EigenLayer中再质押其ETH，无需使用者手动完成再质押。eETH可用于Pendle、Curve、Balancer、Maverick、Gravita、Term Finance、Smmelier等DeFi协议。使用者可将eETH封装成weETH，weETH未来也可在Balancer、Gravita、Pendle、Aura、Maverick等DApp中使用。此外，ether.fi还将推出Staders，可用于质押eETH。据DefiLlama数据显示，ether.fi TVL现为5.07亿美元。
ether.fi已推出忠诚度积分，eETH或weETH持有者可100%获得忠诚度积分与EigenLayer积分，忠诚度积分或将用于去中心化治理，不可转移。忠诚度积分 = 质押的ETH * 1000 * 质押天数。
Eigenpie
是多链收益协议Magpie旗下提供流动性再质押服务的SubDAO组织，使用者可将其swETH、wBETH、mETH、sfrxETH、rETH、stETH等LST资产再质押至Eigenpie。自1月28日开放LST预存款窗口以来，TVL已超1亿美元，现为1.16亿美元，预存款开放至北京时间2月10日03:00。
此前1月23日，Eigenpie公布EGP代币经济学，总供应量为1000万，分配包括IDO（40%）、社群激励（35%）、Magpie Treasury（15%）和早期支持者空投（10%）。Eigenpie承诺通过公平启动引入EGP代币，无VC或预售活动的参与，确保为所有参与者提供平等机会。团队放弃代币分配，将15%的EGP代币分配给Magpie Treasury。
Eigenpie现已推出积分奖励系统，每存入1枚ETH的LST，使用者每小时可获得1个Eigenpie积分。预存款前15天，存款者可获得2倍积分。该积分可获得空投、参与IDO。
延伸阅读:
近期爆红的Eigenpie，积分还能翻倍？教你如何质押才能拿到
Renzo是一个基于EigenLayer构建的以太坊质押协议，主网已于去年12月18日上线，并推出原生ETH再质押功能，使用者可赚取ETH再质押收益与100%的EigenLayer积分。使用者每存入一个LST或ETH，都将铸造等量的ezETH。Renzo执行一个由Figment和P2P.org支持的分散式以太坊验证器基础设施，可无限制参与EigenLayer。当用户存入原生ETH时，需达到32枚ETH最低限额后通过以太坊信标链验证节点进行质押。Renzo还将推出Trade功能。据DefiLlama数据显示，Renzo TVL约为1.55亿美元。
2024年1月16日，Renzo完成320万美元的种子轮融资，Maven11领投，OKX Ventures、IOSG Ventures、Figment Capital、SevenX Ventures等参投，估值达2500万美元。
Renzo现已上线积分计划ezPoints，持有ezETH的使用者每小时可获得1ezPoints，早期使用者还将获得奖励。向ezETH/WETH资金池中提供流动性的使用者将获得2倍ezPoints奖励，还可邀请新使用者赚取exPoints。
Puffer Finance是一个基于Eigenlayer构建的原生流动性再质押协议，该协议由质押者与节点运营商（NoOps）组成，使用者持有1枚ETH即可执行验证器并保留100% PoS奖励（包括执行奖励与共识奖励）。NoOps可将其验证器中的ETH委托为再质押运营商（ReOps）以换取再质押奖励，节点运营商（NoOps）还可自主选择其MEV策略。质押者则可以存入任意数量ETH，以获取原生流动性质押代币（nLRT）pufETH。pufETH还采用Compound的cToken机制，不仅可与DeFi协议完全相容，而且pufETH价值会随着协议铸造验证器票证（tickets）与PoS再质押奖励的增加而提高。
Puffer的nLRT与其他的LRT不同之处还在于，nLRT可获得传统的PoS奖励与再质押奖励，而其他再质押协议则只提供与其原生代币相关的积分奖励。
图片来源：Puffer Docs
2023年9月1日，Rocket Pool、StakeWise、Stader Labs、Diva Stake、Puffer Finance和Swell Network等多家以太坊流动性质押提供商承诺（或正在承诺）限制其持有量不高于总质押量的22%，旨在应对以太坊质押市场日益集中化的问题。
2023年8月，Puffer Finance完成550万美元种子轮融资，Lemniscap和Lightspeed Faction领投，Brevan Howard Digital、Bankless Ventures、Animoca Ventures、KuCoin Ventures、DACM、LBank Labs、SNZ、Canonical Crypto、33DAO、WAGMI33、Concave及天使投资人Lightspeed合伙人Anand Iyer、Eigen Layer创办人Sreeram Kannan、Coinbase质押业务主管Frederick Allen、F2pool和Cobo联创神鱼、Curve核心贡献者区块先生、北美区块链协会会长Ramble、Eigen Layer首席战略官Calvin Liu、Obol首席商务官Richard Malone、质押社群领袖Ladislaus von Daniels参投。
2024年1月30日，Binance Labs宣布投资LSD协议Puffer Finance，具体投资金额未披露。
Puffer Finance即将开放质押ETH、stETH、USDT和USDC，使用者同时获得Puffer及EigenLayer积分奖励。此外，Puffer Finance已于1月30日开启Crunchy Carrot活动，使用者可以连接Twitter账户以及钱包，选择「Family」后转发活动推文，即可获得积分，并允许检视积分排行榜。目前，Puffer Finance已提前结束第一阶段质押，第二阶段质押已开启，TVL已突破1.5亿美元。
Swell Network
是一个以太坊质押协议，已于今年1月30日推出再质押代币rswETH（Restaked Swell Ether），提供对EigenLayer Restaking积分的无上限访问，可在DeFi中使用，同时继续累积Restaking Rewards. Currently, rewETH 1.0 allows users to deposit ETH to obtain rswETH and accumulate re-staking rewards in the form of Pearls and EigenLayer Restaked points. According to DefiLlama data, Swell TVL is $457 million and Swell Liquid Restaking TVL is $4.43 million.
On March 14, 2022, Swell Network completed a $3.75 million financing round with Framework Ventures as the lead investor. Swell Network’s native token SWELL has not been launched, and the token economics have not been announced.
Stakestone is an all-in-one LST staking protocol that aims to bring native staking rewards and liquidity to Layer2. It supports top-tier staking pools and is compatible with restaking. It will also integrate EigenLayer. StakeStone supports ETH beacon chain restaking and LST restaking, aiming to become a leading protocol in the restaking field. According to DefiLlama data, StakeStone TVL increased from $4.17 million to $542 million in just 3 weeks from December 15, 2023, to January 3, 2024. The current TVL is $669 million. StakeStone also actively participated in Manta’s incentive activity and provided $720 million in liquidity in Manta’s $9 billion TVL.
StakeStone’s native LST has been officially upgraded to full-chain LRT. STONE is an OFT based on LayerZero that can be seamlessly used in multi-chain liquidity markets such as DEX, AMM, lending, stablecoins, derivatives, GameFi, SocialFi, etc. STONE does not adopt the rebase mechanism but is similar to Lido’s wstETH in terms of generating income. In other words, the quantity of STONE does not change with the income generated by ETH staking, but its value increases with the increase in ETH staking income. This is similar to the utility of Puffer’s cToken model.
StakeStone has not issued its token yet, and the team is expected to launch a related airdrop campaign. Currently, users can stake ETH in StakeStone and earn income from the STONE-Fi ecosystem.
ClayStack is a liquidity staking platform that entered the Ethereum restaking field through EigenLayer on January 24. ClayStack has changed its Ethereum liquidity staking token, csETH, to a restaking token and will provide new services using the Ethereum restaking protocol EigenLayer. Currently, ClayStack supports ETH, rETH, and stETH restaking in the protocol. According to DefiLlama data, ClayStack TVL is currently $3.96 million.
CLAY is ClayStack’s native token, and the issuance plan will be announced in February. Users will receive reward points in a 1:1 ratio before the token is released. The total supply of CLAY is 100 million, and 5% of the tokens will be distributed to the community through the Initial Governance Diversification (IGD) program.
Users can stake ETH or LST to earn CLAY points and EigenLayer points with no upper limit. During the IGD period, users can earn more CLAY rewards. As the weekly ETH deposits increase, the demand for csETH will also increase, and the distribution of CLAY points will increase.
Inception is an isolated liquidity restaking protocol that supports restaking of various LSTs such as stETH, rETH, ankrETH, cbETH, wBETH, oETH, osETH, swETH, ETHx, sfrxETH, and mETH and issues isolated liquidity restaking tokens (iLRTs). iLRTs can be used in DeFi protocols and remain isolated from the underlying LST. Inception has launched on the Ethereum mainnet with a TVL of $65,000. Inception will also expand to other Layer2 networks and integrate multiple DeFi protocols.
According to the roadmap, Inception will start private round financing in the first quarter of 2024 and launch the mainnet. In the second quarter, it will launch TGE and develop full-chain LRT. InceptionLRT will release the native token ING, and the token distribution rules are as follows: 2.5% for Pre-Seed round, 9% for seed round, 10% for private round, 6% for treasury, 6% for advisors, 3% for marketing, 15% for team members, and 48.5% for liquidity incentives.
Sommelier Finance is a decentralized asset management protocol built on the Cosmos SDK. It has launched restaking vaults for Turbo eETH, Turbo stETH, and Turbo swETH. Users can also earn loyalty points from ether.fi by depositing in the eETH vault. According to DefiLlama data, Sommelier TVL is currently $60.23 million. Sommelier’s native token SOMM has a total supply of 500 million and was distributed to all investors in August 2023.
Astrid is an Ethereum liquidity restaking protocol supported by EigenLayer. Users can restake LSTs (stETH, rETH, or cbETH) in the protocol and receive Astrid liquidity restaking tokens (LRTs), including rstETH, rrETH, or rcbETH. LSTs are restaked on EigenLayer and delegated to multiple operators through Astrid DAO voting. Rewards earned by users are calculated with compounding interest, restaked back to EigenLayer, and distributed through balance resets. Users holding LRT will see their balances automatically adjusted. Astrid is currently live on the testnet and has introduced restaking points. Astrid points are determined based on the amount of ETH restaked by users and the duration of restaking, with a total score equal to the sum of stETH points and rETH points.
GenesisLRT is a restaking platform that allows ETH to be restaked across multiple networks in exchange for the restaking token genETH. Currently, GenesisLRT is live on the testnet, and the mainnet has not been launched. According to the official website, the Genesis testnet has a TVL of $147 million. According to the roadmap, GenesisLRT will complete seed round financing and a $3 million private round financing in the first quarter of 2023. It will deploy the Genesis governance token GEN and launch TGE in the second quarter, and develop full-chain LRT and modular LRT in the second half of the year.
Restaking Cloud – K2 is an Ethereum liquidity restaking protocol that is currently live on the testnet and supports restaking of kETH, stETH, rETH, dETH, and ETH in exchange for K2, but the TVL is 0.
Rest Finance is an enhanced liquidity staking solution based on ACM (Algorithm Collateral Management). Users can stake ETH, stETH, rETH, cbETH, and other LSTs to earn restETH liquidity restaking tokens. Holders of restETH will receive real-time LST rewards and EigenLayer AVS rewards. ACM provides deep liquidity to protocols, increases yield, and enhances stability. Rest Finance launched on January 29 but has a TVL of 0, according to the official website. The native token of Rest Finance is REST, which has not been issued yet. The total supply is 100 million, with a FDV of $20 million. 10% of the total REST supply will be allocated to the Investor Reserve, 20% to contributors, 5% to the DAO treasury, 5% for initial liquidity, and 60% for token release. REST also has oREST, an options token that allows holders to purchase REST at a discounted price. Exercising oREST will result in a premium payment directly to the protocol.
RestakeFi is a modular liquidity restaking platform supported by EigenLayer. Users can stake their LSTs in RestakeFi to obtain rstETH restaking tokens. RstETH holders can earn native EigenLayer rewards and Ethereum staking rewards. RstETH can also be traded on DEXs and integrated into DeFi protocols. RestakeFi is currently live on the testnet, and the mainnet has not been released. In September 2023, RestakeFi completed a $500,000 seed round financing with participation from AlfaDAO, DCD, Yields and More, Moni, and others.
StakeEase is a cross-chain restaking aggregator supported by the Router’s Cross-Chain Intent Framework (CCIF), which allows users to complete multi-step restaking processes with a single click. StakeEase launched on the Ethereum Goerli testnet on January 18 and now supports staking ETH with Stader and restaking with Kelp.
YieldNest is a liquidity restaking protocol supported by EigenLayer, but the product has not been launched yet.
Euclid Finance is a full-chain liquidity restaking protocol based on EigenLayer. Users can restake their ETH and LST in the protocol and receive LRT elETH. ElETH can compound automatically, and holders of elETH can earn restaking rewards, EigenLayer points, and Euclid governance token ECL rewards. Additionally, if users independently restake ECL and restake ETH or LST, they can join the operator node network. The product has not been launched, and token details have not been announced.
Rio Network is a liquidity restaking network. Its first liquidity restaking token is reETH, and the Restake product has not been launched yet. Chorus One, Figment, HashKey Cloud, Kiln, and Unit 410 are the first batch of node operators in Rio, operating ETH validators and maintaining AVS.
According to the official documentation, Rio Network has completed seed round financing with Polygon Capital, Blockchain Capital, and Breyer Capital as lead investors.
Layerless is a full-chain liquidity restaking protocol supported by EigenLayer and LayerZero. It was launched on January 4 and has not yet established an official website. The testnet will be launched in the first week of February. Layerless is building full-chain restaking tokens (ORTs), and users can deposit LST tokens supported by EigenLayer into EigenLayer to receive ORTs with liquidity for use in DeFi protocols.
Agilely is a liquidity restaking derivative protocol that has introduced decentralized lending on Arbitrum and launched the Agilely USD stablecoin (USDA) supported by LayerZero. USDA is backed by assets such as ETH, wstETH, rETH, cbETH, sfrxETH, wBTC, ARB, GLP, GMX, and LRT. Agilely currently supports the minting of USDA with ETH, wstETH, rETH, wBTC, sfrxETH, and cbETH but does not support LRT assets. Users can collateralize the above assets to create Vaults and borrow USDA.
Agilely currently supports three networks: Arbitrum, BNB Chain, and Polygon. Agilely’s token AGL has not been released and will launch a public sale and incentive program.
Entangle is a cross-chain DeFi protocol that includes Liquid Vaults, Oracle, and Photon communication protocol. Entangle aims to enter the restaking field, where users can restake their LP tokens or staking tokens in Liquid Vaults to obtain LSD tokens, which can be restaked or traded. Entangle currently supports 11 blockchain networks. It is live on the testnet and has launched a testnet incentive program.
In January 2024, Entangle completed a $4 million seed and private round financing with participation from Big Brain Holdings, Launch Code Capital, LBank Labs, Skynet EGLD Capital, Cogitent Ventures, Owl Ventures, Faculty Group, and Seier Capital.
Entangle’s native token is NGL, which has not been released yet.
Ion Protocol is a restaking and lending platform that allows users to deposit various assets (including LST, LST LP positions, restaking positions, liquidity restaking positions, staked LST LP positions, LST index products, etc.) supported by validators into collateral vaults and mint allETH from their deposits. Ion Protocol V2 is currently live on the testnet. In July 2023, Ion Protocol completed a $2 million Pre-Seed round financing with participation from Portal Ventures, SevenX Ventures, Foresight X, Bankless Ventures, Maelstrom Fund, Alexander, Anthony Sassano (sassal.eth) – founder of The Daily Gwei, and Ryan Watkins – co-founder of Syncracy Capital. Ion Protocol was also selected as one of the projects in the first batch of Foresight X Accelerator Program in March 2023.
Pendle is a DeFi yield protocol that has recently launched the Pendle LRT pool, which supports eETH from ether.fi, reETH from Kelp DAO, and ezETH from Renzo Finance. Users can purchase Pendle YT tokens to receive points (2-3x) from the corresponding LRT protocol and EigenLayer points (1x).
Equilibria is a yield booster on Pendle that utilizes the veToken/Boost model adopted by Pendle. It provides higher yields for LPs through the tokenized version of vePendle, ePENDLE, and provides additional rewards for PENDLE holders. LPs on Pendle can deposit in Pendle through Equilibria to increase their yields without holding any vePENDLE positions. PENDLE holders can use their PENDLE to mint ePENDLE, which can be restaked for additional rewards.
Maverick Protocol is a DeFi infrastructure that enables liquidity providers to achieve high capital efficiency through their desired liquidity provider (LP) strategies. It currently supports LRTs such as rsETH, rswETH, and weETH and their related assets. In June 2023, Maverick Protocol completed a $9 million strategic round of financing with Founders Fund as the lead investor. Participants included Pantera Capital, Binance Labs, Coinbase Ventures, and Apollo Crypto. The funding will be used to scale the protocol, deploy it to new chains, and support developers in building on the infrastructure. Maverick Protocol is also the 34th project on Binance Launchpool.
Davos is an over-collateralized stablecoin project that has integrated LST and LRT as collateral debt positions (CDPs). Users can deposit collateral and mint the all-chain stablecoin DUSD. For LST, the Davos collateralization ratio (LTV) is set at 66%, ensuring that the borrowed DUSD is over-collateralized by 150%. Davos supports Ethereum mainnet, Polygon mainnet, Arbitrum, Optimism, Polygon zkEVM, BNB Smart Chain, Linea mainnet, and Avalanche. According to DefiLlama data, Davos TVL is approximately $486,000.
In January 2023, Davos received $500,000 in Pre-Seed round financing from Polygon Ventures and Sandeep Nailwal, co-founder of Polygon.MH Ventures and LD Capital invest in Ender Protocol. In addition, Davos Protocol participated in the seventh edition of Cryptopedia, an OKX Web3 wallet event, in September 2023.
Ender Protocol is a liquidity staking protocol that allows users to mint centralized yield tokens and stake liquidity power tokens called END. END is fully backed by the liquidity staked rewards from Ender Bond deposits. Ender will launch endETH and build a re-staking solution on the EigenLayer stack. In a tweet on January 31st, Ender Protocol described itself as a multi-purpose protocol for liquidity staking, re-staking, yield separation, yield provisioning, LST-bond, yield compression, metaverse bond, liquidity staking-driven metaverse, L2-EVOS, superfluid re-staking, and liquidity supply derivatives. It aims to become a yield trading protocol based on revenue similar to Pendle.
Users can mint Ender WL NFT#2 to qualify for early participation and receive ENDR airdrop. The token will not be distributed to VCs or private rounds, and it will not be allocated to internal personnel. Users can also participate in Bond Liquidity Provision (BLP) activities to receive airdrops.
Supermeta is a zkLayer2 designed specifically for liquidity re-staking. Users can deposit supported LSD into its Layer2 bridge and receive LST, as well as ETH and EigenLayer automatic compounding rewards. Supermeta’s LRT can be used as collateral or to increase liquidity in the Supermeta native DEX.
Supermeta’s product has not yet been launched.
Tenet is a re-staking public chain that introduces the DiPoS consensus mechanism. It allows LSD from other networks to be re-staked into Tenet to protect the network and participate in governance. The native token of Tenet is TENET, which can be used to pay for gas fees. TENET can also be staked to validators in exchange for LSD tokens called tTENET. Users can stake LSD from other blockchain networks to receive tLSD. Tenet also adopts the ve token economic model, and TENET can be locked to generate veTENET.
Tenet also has a native stablecoin protocol to support the minting of all tLSD on Tenet. Its USD stablecoin is called LSDC (Liquid Stake Dollar), which can be used to pay for loans on the Tenet stablecoin protocol. During the genesis period, it can be minted by re-staking LSD to the Tenet validator network. Users can borrow LSDC at zero interest or earn interest through underlying collateral.
Tenet has already launched its mainnet test version.
Karak is a modular Layer2 with native risk management, re-staking, and AI-based infrastructure. Currently, users can earn XP rewards on Subsea.
On December 13th, 2023, Andalusia Labs, the developer of Karak, completed a $48 million Series A funding round led by Lightspeed Venture Partners, valuing the company at over $1 billion. Other investors include Mubadala Capital, Pantera Capital, Framework Ventures, Bain Capital Ventures, and Digital Money Group.
Omni Network is a re-staking blockchain that allows developers to access its applications across all Rollups. Omni validators need to re-stake their ETH to participate in network consensus. Omni introduces a unified global state layer and uses EigenLayer re-staking to ensure security. Re-staking can be used for cross-chain communication and lending between different Rollups.
In April 2023, Omni Network completed an $18 million funding round with participation from Pantera Capital, Two Sigma Ventures, Jump Crypto, Hashed, and The Spartan Group.
In the Restaking infrastructure project, this article briefly lists individual projects. AVS, Rollup, and node operators related to the EigenLayer ecosystem will be further reviewed later.
AltLayer is a Rollup-as-a-Service protocol. In December 2023, EigenLayer partnered with AltLayer to launch Restaked Rollups. AltLayer aims to provide Restaked Rollups as a single bundled offering for Rollup users to benefit from integrated consolidation. Restaked Rollups can integrate decentralized ordering, fast finality, and composability features into a single Rollup.
AltLayer is also one of the eight initial partners to implement data availability using EigenDA.
Exocore is a full-chain re-staking protocol that combines a modular architecture design with a Tendermint-based Byzantine Fault Tolerant (BFT) consensus mechanism, zero-knowledge (ZK) light client bridging, and fully compatible EVM execution environment. Exocore allows any supported tokens on chains to be re-staked, including native L1 and L2 protocol tokens, LST, DeFi LP tokens, stablecoins, and other tokenized assets, to provide cryptographic economic security for off-chain services. Exocore seamlessly interfaces with external L1 and L2 blockchains through trustless cross-chain bridging mechanisms without introducing additional trust assumptions. Additionally, Exocore introduces the concept of “Alliance Re-staking,” enabling off-chain services to form an alliance to collectively enhance their cryptographic economic security.
Exocore has not yet launched its product, but users can join its ecosystem on the website as re-stakers, validation nodes, and developers.
SSV Network is a decentralized open-source ETH staking network based on Distributed Validator Technology (DVT). In a tweet on January 4th, SSV announced its collaboration with EigenLayer for complementary re-staking. It claimed that an EigenLayer validator is running on the “mainnet” on SSV. Both EigenLayer and stakers can choose to transfer validator responsibilities to SSV while maintaining the re-staking status of ETH on EigenLayer to earn additional rewards on the SSV incentivized mainnet.
Hyperlane is a permissionless and interoperable layer built for modular blockchain stacks that allows seamless communication between blockchains deployed on Hyperlane. Hyperlane has previously collaborated with EigenLayer and will launch the integration of AVS in early 2024.
In September 2022, Hyperlane completed an $18.5 million funding round led by Crypto Investor Variant, with participation from Galaxy Digital, CoinFund, Circle, Figment, Blockdaemon, Kraken Ventures, and NFX.
Hyperlane has not announced any token information yet.
Ethos aims to re-stake Ethereum to Cosmos, allowing application chains to benefit from Ethereum’s economic security. Ethos uses the Mesh Security shared security solution and leverages the EigenLayer infrastructure by deploying AVS to coordinate user rights between Ethereum and Ethos application chains through IBC. EigenLayer re-stakers deposit ETH into the AVS on Ethereum Layer1 and choose a node operator for delegation. The execution layer node operator has a default validator on each Cosmos application chain for virtual staking. Ethos application chains coordinate updated states to their respective consumer chains via IBC and handle subsequent rewards and/or penalties. These are reflected on the AVS contract on the Ethereum L1 through off-chain relays.
Ethos is currently in the private testnet phase. On January 20th, Ethos announced that decentralized asset management protocol Sommelier Finance is its first launch partner.
In June 2023, Polygon launched Polygon 2.0, aiming to become a unified network of L2 chains supported by ZK technology to establish the “value layer” of the internet. Sandeep Nailwal, co-founder of Polygon, tweeted in August 2023 that in Polygon 2.0, the new token POL is staked in a staking hub, and users can staking the same POL on different chains, which is called “enshrined restaking.”
Polygon 2.0 aims to eliminate reliance on third parties for re-staking, enhance ecosystem security, and reduce centralization risks.
LiNEAR Protocol is a full-chain liquidity staking and re-staking protocol in the NEAR ecosystem. Users can stake or re-stake ETH, NEAR, and other assets to earn rewards and receive LiNEAR, bLiNEAR, and LiETH tokens. LiNEAR represents LST, while bLiNEAR and LiETH are LRT tokens. LRT assets can earn re-staking rewards and PoS staking rewards.
According to DefiLlama data, the TVL of LiNEAR Protocol is currently $61.63 million.
On January 17th, LiNEAR Protocol launched its governance token LNR and distributed it to active community members through a Genesis Airdrop, with a snapshot period from April 5th to December 31st, 2023. Users can claim LNR rewards by connecting their NEAR wallets before April 15th, 2024. LNR grants holders governance rights, including participation in re-staking and re-staking strategies, multi-chain deployment decisions, and more. The total supply of LNR from the Genesis Airdrop is 1 billion tokens, with 10% allocated for airdrops to LiNEAR stakers, 9% for team incentives over one year and then linearly distributed over the next three years, 11% reserved for future airdrops, 8% for protocol development, 12% for marketing and operations, 27% for community initiatives, and 23% stored in the DAO treasury.
Octopus Network is a multi-chain network in the NEAR ecosystem that supports NEAR re-staking and adaptive IBC in its 2.0 version. Re-staking on Octopus Network includes two roles: validators and delegators. NEAR holders can participate in re-staking, where users stake at least 10,000 NEAR to execute an Appchain node, and delegators stake at least 100 NEAR. 70% of Appchain rewards are allocated to re-staking rewards, while 30% are used for OCT buybacks. Appchain rewards are distributed based on the amount of NEAR staked by nodes, with higher stakes receiving more rewards.
Re-staking rewards are distributed daily, and NEAR re-staking rewards are automatically re-staked. However, users need to manually claim their re-staking rewards.
The total supply of OCT, the native token of Octopus Network, is 100 million tokens, with a circulating supply of 78.7 million tokens. It has a market capitalization of approximately $24.49 million and is currently priced at $0.3143 USDT.
Picasso was originally a Kusama parachain of the Polkadot ecosystem’s DeFi protocol Composable Finance. On January 28th, it launched Mantis Games on Solana, introducing re-staking. It initially accepted SOL, jitoSOL, mSOL, and bSOL, starting with a vault that required 50,000 SOL, which will later increase to 150,000 SOL and 500,000 SOL. Users who hold MANTIS Games NFTs can form teams. The first round of Mantis Games ended on January 30th, with a total of 50,000 SOL deposited and a total reward of 17.5 million PICA tokens. The re-staking Vault APY is as high as 67.04%. The second round of Mantis Games is about to begin.
On January 31st, Picasso announced a collaboration with Solend to integrate cTokens (including cUSDC, cSOL, cUSDT, cSLND) for the Solana re-staking layer. Users can re-stake cTokens within the Picasso re-staking layer (Solana IBC) on Solana to utilize their liquidity and earn composite returns.
The native token of Picasso is PICA, with a total supply of 10 billion tokens. The circulating supply is approximately 450,000 tokens, with a market capitalization of approximately $73.32 million and a current price of $0.016 USDT.
Babylon is a Bitcoin re-staking protocol that allows Bitcoin holders to stake BTC on PoS blockchains to earn rewards without the need for third-party custody, cross-chain transfers, or wrapping. In an October 11th tweet, Babylon stated that its protocol enables Bitcoin re-staking. Currently, Babylon’s Bitcoin re-staking testnet has not been launched.
On December 7th, Babylon, the Bitcoin re-staking protocol, completed an $18 million funding round with Polychain Capital and Hack VC as lead investors, along with participation from Framework Ventures, Polygon Ventures, OKX Ventures, and IOSG Ventures.
Yield 24 is a liquidity re-staking protocol that operates on BNB Chain, Ethereum, Polygon, and other EVM-compatible chains. Users can re-stake their ETH, BNB, BTC, stablecoins, or LRT in the protocol. Yield 24 has integrated Stader and Ankr Liquidi Staking, two liquidity staking platforms and validators, on BNB Chain. Users can stake BNB to earn yBNB and receive rewards in the native token of Yield 24, Y24.
Beradrome is a re-staking and liquidity marketplace on Berachain. It has a ve (3,3) tokenomics and built-in mechanisms for bribery, voting, and more. The Beradrome NFT series is called “Tour de Berance.” Regarding re-staking, Beradrome has not made significant progress yet.
The total supply of Beradrome tokens is 100,000, and holders of “Tour de Berance” NFTs can receive token airdrops.
Further reading:
– Exploring the Bear Chain Berachain: Technology, Community, and Future
– Eigenpie, the Recent Rising Star: How to Stake and Get Doubled Points
– TVL over $3.6 billion: A Review of 6 Ethereum Re-staking Protocols: EigenLayer, ether.fi…
– Ethereum’s “Re-staking Track” Regains Attention? A Review of 5 Potential Projects Yet to Launch