jakiro
source:Uncle
With the improvement of Ethereum pledge rate, the demand for pledge services has also increased, and Eigenlayer has once again entered the sight.Can pledge be a new explosion point in 2024, and what are the potential projects of the pledged track?This article will take you to find out.
1. EIGENLAYER’s reasons for the reasons for the reasons for again?
With the passage of Bitcoin spot ETF, Ethereum is good: Ethereum’s expectations of EFT applied by Ethereum, and Cancun upgrades, Ethereum, who has been sluggish for a long time, has reappeared new vitality.
Ethereum pledge is increasing, and the demand for pledge is increasingly prominent.EIGENLAYER allows users to reintegrate ETH, LSDETH (ETH of the Liquid Page) and LP Token on other side chains, prophecy machines, middleware, etc. as nodes and get verified rewards. In this way, third -party projects can enjoy the security of ETH main network.Sexual, ETH pledges can also get more benefits and achieve a win -win situation.
The trend of pledge has become the focus of the Ethereum ecosystem with Eigenlayer increased LST’s mortgage quota. Eigenlayer has attracted more than 500,000 Ethereum in just one month.Top -level protocol.
Recently, EigenLayer announced that it provides re -pledge services for the COSMOS sub -chain. It is of great significance in both Ethereum and COSMOS.EIGENLAYER provides re -pledge service for the COSMOS sub -chain, so that COSMOS has obtained the security of Ethereum, and also opened up a new world of incremental income for Ethereum pledges.
The first AVS -EIGENDA to verify the service of EIGENLAYER is also about to be launched. The narrative of its DA service has also followed Celestia’s token TIA to become a topic of market attention.
2. What are the potential projects for the re -pledge track?
There is not only EIGENLAYER in the pledged track. There are also many opportunities for derivative projects in RestAKing’s narrative. Let me briefly introduce the four categories of RESTAKING:
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Lsd restaking:Save the LST (STETH, CBETH, etc.) obtained after saving you into the LSD protocol and pledge it into Eigenlayer.
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Liquid-lsd restaking:Through the LRD protocol, such as Kelp DAO, entrust the LST to the LRD protocol instead of the protocol instead of the EIGENLAYER and then pledged, and the user gets the mortgage certificate to the token LIquid Restaking token (LRT).
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Native restaking:Native flow pledge refers to the verification of the verifications to use the EIGENPOD smart contract to redirect the withdrawal voucher to EIGENLAYER.
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Liquid native restaking:Native flow refers to projects such as ETHERF.FI or Puffer Finance that provide small ETH node services, and provide ETH in the node to EIGENLAYER to pledge.
The following statistics are based on the five -unsurvive reinforcement project for your reference. These five projects can obtain Eigenlayer points while getting their respective project points.
Kelp dao
Kelp Dao is the RESTAKING project made by Stader Lab, which supports multi-chain, belongs to the LIQUID-LSD RESTAKING type mentioned above. The two LST tokens are currently opened in Lido’s STETH and Stader ETHX.Eigenlayer LST has a full quota, so it is currently suspended.
Although Stader Lab has issued coins, Kelp Dao has launched the integral system, as its sub -project Kelp Dao, it should still launch its own tokens.And you can look forward to the linkage effect of SD (tokens of Stader Lab) and Kelp Dao.
Swell
Swell is an old LSD protocol. Not long ago, it was announced to set foot in the field of Liquid Restaking, which belongs to the LIquid Native Restaking product.After adding the re -pledge function, users can save ETH into RSWETH, so Swell will no longer be limited by Eigenlayer LST quotas.
Because SWELL has not yet issued an airdrop expectation, its LST token SWETH is valued by the airdrop hunter, which is currently the second -ranked pledge asset in Eigenlayer.LSD can get points before, and participation in pledge can also get points.
ether.fi
Ether.Fi belongs to the LIQUID Native Restaking product. It has received 5.3 million US dollars of seed round financing invested by BitMex founder Arthur Hayes. Unlike lido, Ether.Fi uses a decentralized, non -hosting method to achieve ETHThe pledge, and announced the provision of re -pledge service. Because it is native ETH pledge, it is not affected by the EIGENLAYER LST limit limit, and its mortgage certificate token EETHLRT mortgage certificate tokens.
Renzo
Renzo also belongs to the LIQUID Native Restaking product, and it will not be limited by the EIGENLAYER LST deposit limit. It can still be deposited.However, it should be noted that ETH, which is deposited in Renzo, has not been opened for the time being, and the mortgage voucher EZETH cannot be transferred. In the short term, it belongs to the lock.
1 月 16 日，Renzo 宣布完成 300 万美元种子轮融资，在安全性上有了保障，而且相比于同类型协议锁仓量较小，在目前看来性价比更高。
It should be noted that because Latin’s new point reward and unobtrusted team background, coupled with unblocked redemption, are questioned and distrust by some users.
Puffer Finance
Puffer Finance is a kind of anti -penalty liquid pledge protocol, which is similar to Ether.Fi. It is also a type of product that belongs to Liquid Native Restaking.Puffer Finance has received seed round financing led by Jump Crypto, with a total of $ 6.15 million in financing, and the valuation has not been disclosed.
EIGENLAYER put forward 32 ETH threshold requirements for the average Ethereum pledged nodes to meet the requirements to run AVS.
Puffer’s re -pledge function is to reduce this threshold below 2 ETH to try to attract small nodes.
3. How to use PENDLE to participate in pledge with another way?
PENDLE is a decentralized interest rate trading market that provides transactions with PT (Principal Token, principal token) and YT (Yield Token, income tokens).We use YT transactions in Pendle to accelerate the points of Ether.Fi and Eigenlayer.
Enter the YT-Eeth transaction of PENDLE and then buy YT-Eeth.With YT-Eeth, you can get the transaction reward of pledge income, ether.fi double points, EIGENLAYER points, and Pendle.At present, 1 EETH can buy about 11 YT-Eeth, which is equivalent to adding 11 times lever.
It looks attractive, right?但是了解 YT 的价格机制后，你会知道 YT 的价格是随着到期日的临近，价格是逐渐降低的，这本质上是用时间换质押收益和积分。
当然也可以以组 LP 这种风险更低的形式获取上述奖励，同样的也有缺点，比如容易受到无常损失、获取积分效率相对较低等。
Tip: If you do n’t know much about Pendle, please learn related knowledge. This article cannot explain too much due to space problems.
Fourth, the risk that cannot be ignored by pledge
The pledge, as an emerging concept in the field of encryption, is emerging, providing pledges with more opportunities to add different networks and increase income.EIGENLAYER claims to be “decentralized trust.However, pledge is not without risks. It introduces a series of potential problems and is worthy of careful consideration.
1. 1.罚款风险：由于恶意活动，失去质押的 ETH 的风险增加。
2.集中化风险：如果太多质押者转移到 EigenLayer 或其他协议，可能会对以太坊造成系统性风险。
3..合约风险: Smart contracts of each protocol may have risks.
4. 4..Multi -level risk superposition: This is a key issue for re -pledge. It combines the original pledge risk and additional risks to form a multi -level risk.
5. Summary
ETH/BTC 汇率在比特币现货 ETF 通过之后迎来强势反弹，在有着坎昆升级和以太坊现货 ETF 等利好加持下，以太坊生态也将迎来回弹。The next main theme of Ethereum ecology is the L2 section of the Cancun upgrade directly and the other is the re -pledged ecosystem of Eigenlayer.
The use of the project mentioned today is undoubtedly the highest choice of cost -effectiveness. As long as you participate in the pledge, you can eat it or two.It should be noted that the recent airdrop rules of Altlayer mentioned that the airdrops will be given to the EIGENLAYER pledgers, but it is unprecedented whether it can be performed into an agreement such as Kelp Dao and Renzo.
Of course, we must also realize that the re -pledge of continuous baby is essentially a speculative leverage created for liquidity.While bringing higher returns, it is also amplifying risks. No matter what level of agreement, the contract issues will damage user assets.
Noun explanation
Restaking: The pledge involves pledge of the tokens of the liquidity to enhance security. At the same time, the pledgers are allowed to get rewards from the services provided by the middleware application.
AVS (Actively Validated Services): Active verification service, any system that requires its own distributed verification semantics, such as side chain, data availability layer, new virtual machine, Keeper network, prophet network, net bridge, threshold encryption scheme, and trusted execution environment.
LSD (liquid Staking Derivatives): The liquid pledge derivatives refer to the receipt obtained after pledged the tokens, which is equivalent to the deposit list after the deposit of the bank.
LST (liquid stake token): Migraphical pledged tokens, which represent the pledged tokens for pledges in the POS (Certificate of Equity), such as the STETH of Lido, CBETH of Coinbase, and so on.
LRT (liquid restaking token): Lobricity re -pledge tokens, and pledge LST again to obtain LRT.
Related project websites
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Eigenlayer:https://www.eigenlayer.xyz/
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Kelp dao:https://www.kelpdao.xyz/
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ether.fi:https://www.ether.fi/
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Renzo:
https://app.renzoprotocol.com/restake -
Puffer Finance:https://www.puffer.fi/
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Pendle:https://www.pendle.finance/
