s Received investments from MH Ventures and LD Capital. Additionally, Davos Protocol participated in the seventh edition of the OKX Web3 wallet Cryptopedia event in September 2023.
Ender Protocol is a liquidity staking protocol that allows users to mint centralized yield tokens and stake liquidity tokens END using Ender Bond as collateral. 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, deformable yield compression, metaverse bond, liquidity staking-driven metaverse, L2-EVOS, superfluid re-staking, and liquidity supply derivatives. Its goal is to become a yield trading protocol based on Pendle.
Users can mint Ender WL NFT#2 to qualify for early participation and receive ENDR airdrops. The token will not be distributed to VCs, private rounds, or internal personnel. Users can also participate in Bond Liquidity Providing (BLP) activities to receive airdrops.
Supermeta is a zkLayer2 specifically designed for liquidity re-staking. Users can deposit supported LSD into its Layer2 bridge and receive LST and ETH rewards along with EigenLayer automatic compounding rewards. Supermeta’s LRT can be used as collateral or to enhance the native DEX liquidity.
Supermeta’s product is not yet live.
Tenet is a re-staking public chain that introduces the DiPoS consensus mechanism, allowing LSD from other networks to be re-staked on Tenet for network protection and governance participation. The native token of Tenet is TENET, which can be used to pay for gas fees. TENET can also be staked to obtain LSD tokens called tTENET. Users can stake LSD from other blockchain networks to obtain tLSD. Tenet also adopts the ve token economic model, where 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 off 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 with no interest or earn interest through underlying collateral.
Tenet has already launched its mainnet testing 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, Karak developer Andalusia Labs completed a $48 million Series A financing round, with Lightspeed Venture Partners leading the investment, valuing the company at over $1 billion. Other participants 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 borrowing 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. Details about EigenLayer ecosystem AVS, Rollup, and node operators will be further explored later.
AltLayer is a Rollup-as-a-Service protocol. In December 2023, EigenLayer and AltLayer collaborated to launch Restaked Rollups. AltLayer aims to provide Restaked Rollups as a bundled offering for Rollups users to benefit from a single integration. Restaked Rollups can integrate decentralized ordering, fast finality, and composability into a single Rollup.
AltLayer is also one of the eight initial partners to implement data availability using EigenDA.
Exocore is a fully-chain re-staking protocol that combines modular architecture design, Tendermint-based Byzantine Fault Tolerance (BFT) consensus mechanism, ZK light client bridging, and fully compatible EVM execution environment. Exocore allows re-staking of any supported tokens on the chain, including native L1 and L2 protocol tokens, LST, DeFi LP tokens, stablecoins, and other tokenized assets, providing economic security for off-chain services. Exocore seamlessly interfaces with external L1 and L2 blockchains through a trustless cross-chain bridge mechanism, without introducing additional trust assumptions. Additionally, Exocore introduces the concept of “alliance re-staking,” where off-chain services form an alliance to collectively enhance their economic security.
Exocore’s product is not yet live, but users can join the ecosystem on their website and apply as member re-stakers, validation nodes, or developers.
SSV Network is a decentralized open-source ETH re-staking network based on Distributed Verification Technology (DVT). In a tweet on January 4th, SSV announced its partnership with EigenLayer for mutual re-staking. They mentioned that an EigenLayer validator is running on the SSV “mainnet.” Both EigenLayer and re-stakers can choose to delegate 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. Anyone can deploy Hyperlane on any blockchain environment, and deployed Hyperlane blockchains can seamlessly communicate with each other. Hyperlane had previously collaborated with EigenLayer and will launch AVS integration in early 2024.
In September 2022, Hyperlane completed an $18.5 million funding round, with Variant leading the investment. Other participants include 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 utilizes the Mesh Security shared security solution, leverages the EigenLayer infrastructure by deploying AVS, and relies on IBC for coordinating user rights between consumer chains. Re-stakers on EigenLayer deposit ETH into AVS on Ethereum Layer1 and choose a node operator to delegate. Execution layer node operators have a default validator on each Cosmos consumer chain to delegate their virtual stake. Then, Ethos application chains coordinate the updated state to their respective consumer chains via IBC and handle subsequent rewards and/or slashing updates. These are reflected on the AVS contract on Ethereum L1 through off-chain relay mechanisms.
Ethos is currently in a 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 create a unified network of L2 chains supported by ZK technology to establish the “value layer” of the internet. Sandeep Nailwal, co-founder of Polygon, mentioned on Twitter in August 2023 that in Polygon 2.0, their new token POL is re-staked in a staking hub, allowing users to re-stake the same POL on different chains, termed “enshrined restaking.”
Polygon 2.0 aims to eliminate the 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 assets. LRT assets not only earn re-staking rewards but also PoS staking rewards.
According to DefiLlama data, LiNEAR Protocol’s TVL 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, covering the 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% distributed to LiNEAR stakers, 9% allocated for team incentives over one year and linearly distributed over the following three years, 11% reserved for future airdrops, 8% for protocol development, 12% for marketing and operations, 27% for community plans, and 23% stored in the DAO treasury.
Octopus Network is a multi-chain network in the NEAR ecosystem. Its 2.0 version supports NEAR re-staking and adaptive IBC. Re-staking includes roles for validators and delegators. NEAR holders can participate in re-staking, where users can execute Appchain nodes by staking at least 10,000 NEAR, and delegators can stake at least 100 NEAR. 70% of the Appchain rewards will be allocated to re-staking rewards, and 30% will be used for OCT buybacks. Appchain rewards are distributed based on the amount of NEAR re-staked by nodes, with higher re-staked amounts resulting in higher rewards.
Re-staking rewards are distributed daily, and NEAR re-staking rewards are automatically re-staked. However, users need to claim their re-staking rewards independently.
The total supply of Octopus Network’s token OCT is 100 million, with a circulating supply of 78.7 million. Its market cap is approximately $24.49 million, with a current price of 0.3143 USDT.
Picasso was originally a Kusama parallel chain of the Polkadot DeFi protocol Composable Finance. On January 28th, Picasso launched Mantis Games on Solana, introducing re-staking. Initially, it accepted SOL, jitoSOL, mSOL, and bSOL, with vaults starting from 50,000 SOL and later increasing 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 deposit of 50,000 SOL and a total reward of 17.5 million PICA. The re-staking Vault APY reached 67.04%. The second round of Mantis Games is about to begin.
On January 31st, Picasso announced a partnership with Solend to integrate cTokens (including cUSDC, cSOL, cUSDT, and cSLND) for re-staking on Solana. Users can re-stake cTokens within the Picasso re-staking layer (Solana IBC) on Solana to utilize their liquidity. Users can earn compound interest.
Picasso’s native token is PICA, with a total supply of 10 billion and a circulating supply of approximately 450,000. Its market cap is approximately $73.32 million, with 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 staking rewards without the need for third-party custody/cross-chain/wrapping. In an October 11th tweet, Babylon stated that its protocol enables Bitcoin re-staking. Babylon’s Bitcoin re-staking testnet has not yet launched.
On December 7th, Babylon completed an $18 million funding round, with Polychain Capital and Hack VC leading the investment. Other participants include Framework Ventures, Polygon Ventures, OKX Ventures, and IOSG Ventures.
Yield 24 is a liquidity re-staking protocol that operates on various EVM-compatible chains such as BNB Chain, Ethereum, and Polygon. Users can re-stake their ETH, BNB, BTC, stablecoins, or LRT tokens in the protocol. Currently, Yield 24 has integrated Stader and Ankr Liquidi Staking, two liquidity staking platforms and validators, on the BNB Chain. Users can stake BNB to earn yBNB and receive native token Y24 rewards from Yield 24.
Beradrome is a re-staking and liquidity market on Berachain, featuring ve (3,3) token economics, built-in bribery, voting mechanisms, and more. The Beradrome NFT series is called “Tour de Berance.” Regarding re-staking, Beradrome has not made significant progress yet.
Beradrome’s token supply is 100,000, and holders of “Tour de Berance” NFTs are eligible for token airdrops.
Read More:
Exploring Berachain: Technology, Community, and the Future
Origin DeFi is a DeFi project that launched its Ethereum-based yield aggregator Origin Ether (OETH) in May last year. Users can re-stake oETH in protocols like EigenLayer. OETH uses ETH and LST (stETH, rETH, and sfrxETH) as supporting collateral to ensure 1 oETH = 1 ETH. OETH earns yield from Curve, Convex, Curve AMO, Balancer & Aura.
Origin DeFi’s governance token OGV has a total supply of 4,449,673,706 tokens, with a circulating supply of 645,405,079 tokens. Its market cap is approximately $5.2 million.
Redacted Cartel is a veteran DeFi project that has shifted its focus to the LSD track. In April 2023, Redacted Cartel released a whitepaper for DINERO, an Ethereum-based overcollateralized stablecoin, but it has not yet been launched.
Redacted uses a dual-token LST mechanism. Users can deposit ETH into Redacted DAO’s Pirex platform to mint pxETH and can then deposit pxETH into Dinero to receive apxETH for automatic compounding rewards in the treasury. Unstaked pxETH does not earn re-staking rewards.
On February 1st, the Restaking Cloud – K2 Core Contributor Blockswap DAO community voted in favor of the proposal “Integrating Redacted’s Pirex ETH into kETH and Restake Cloud” to use apxETH as collateral for their re-staking protocol and provide higher re-staking yields.
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