jakiro
Author: Climber, Bitchain Vision
On February 6, Ethereum liquidity re-staking protocol TVL rose by more than US$2 billion, of which ether.fi TVL exceeded US$750 million, ranking first with a monthly increase of 500%, followed by Puffer Finance and Kelp DAO.Renzo and Eigenpie’s TVL also exceeded US$200 million.
The popularity of the star concept projects EigenLayer and AltLayer has continued to attract traffic to the narrative, which has led to the rapid development of multiple projects of the same type.Last year, the upgrade of Ethereum Shanghai has led to the rise of the liquid pledge track. After a period of development, the re-pled gameplay has evolved.
This year Ethereum is about to usher in Cancun upgrade, and the re-pled track may explode.Recently, TVL has risen significantly in several re-pled projects, and the market expects that there may be potential projects among them.Today, Bitchain Vision compares and analyzes these representative players from multiple dimensions to find out the value points in each project.
On-chain data
Currently, EigenLayer’s TVL is approaching $4 billion.On February 4, EigenLayer’s TVL had just exceeded $2 billion, but in just three days, the data was nearly doubled.The big reason is that EigenLayer reopens the re-staking window, adding LST sfrxETH, mETH and LsETH, and there is no upper limit for any LST, but the window period is only until February 10th.
Just judging from the current growth rate and scale, EigenLayer is far superior to similar projects, and its development trend is still rapid.
Let’s look at ether.fi, which has a TVL of US$778 million and has grown by more than 500% in the past month.Puffer Finance is second, but TVL is only half the less than ether.fi, about $476 million.
Other re-pled projects Kelp DAO’s TVL is US$320 million, a monthly increase of 121%; Renzo TVL is US$215 million, but a monthly increase of 826%; Eigenpie TVL is approximately US$200 million.
Financing information
EigenLayer:
In August 2022, EigenLayer developer EigenLabs completed14.5 millionUS dollar seed round, led by Polychain Capital and Ethereal Ventures.
Last March, EigenLabs completed50 millionThe US dollar Series A financing led by Blockchain Capital, and Electric Capital, Polychain Capital, Hack VC, Finality Capital Partner, Coinbase Ventures and IOSG Venture participated.
ether.fi:
In February 2023, ether.fi completed5.3 millionThe US dollar financing was led by North Island Ventures, Chapter One and Node Capital, and BitMex founder Arthur Hayes and others participated in the investment.
Puffer Finance:
In June 2022, Puffer Finance completed a US$650,000 Pre seed round financing; in August 2023, Puffer Finance completed$5.5 millionSeed round financing; in January 2024, Puffer Finance completed strategic financing, with the amount not disclosed.
Kelp DAO:
On October 7, 2021, Stader Labs announced the completion$4 millionIn seed round financing, Pantera Capital led the investment, and Coinbase Ventures, True Ventures, Jump Capital, Proof Group, Hypersphere and others participated in the investment.
On January 20, 2022, Stader Labs announced that it will be completed with a valuation of 450 million yuan.$12.5 millionPrivate equity financing.This round of financing was led by Sanjian Capital, followed by Blockchain com, Accomplice, DACM, GoldenTree Asset Management, Accel, Amber, 4 RC, Figment and several angel investors.
Renzo:
In January 2024, Renzo Protocol completed$3.2 millionSeed round with a valuation of $25 million.
Major project events
EigenLayer:
On February 4 this year, EigenLayer’s data availability solution EigenDA was integrated into Arbitrum Orbit.
In December last year, EigenLayer introduced six new liquid staking tokens (LSTs).
In November, EigenLayer launched the second phase test network for EigenLayer and EigenDA, with the second phase main network expected to be launched in the first half of 2024.The third phase will introduce AVS (active verification service) outside EigenDA, and the third phase is expected to enter the test network and main network in 2024.
In April, EigenLayer released the first phase test network of the EigenLayer protocol on the Ethereum Goerli network.The first white paper was released in February.
ether.fi:
On January 10 this year, ether.fi announced the roadmap for the first half of 2024.The team set TGE in April, with other key dates including the release of the DAO framework in February, the release of token economics documents in March, and the launch of token generation activities in April.Mainnet v3 is scheduled to be released in the early second quarter and will include some special features such as the ability for users to run personal nodes using 2 ETH Bond.
In May last year, Ether.Fi was launched in the first phase of the main network.
Puffer Finance:
In January this year, Binance Labs and LBank Labs announced their investment in Puffer Finance; in May last year, it received a grant from the Ethereum Foundation.
Renzo:
In January this year, OKX Ventures announced a strategic investment in Renzo; in October last year, Renzo was launched on the main network.
Conclusion
The re-pled track has continued to be popular recently and there is no sign of stopping. With the arrival of Ethereum Cancun upgrade, it is very likely to usher in popularity again.As an emerging sector, it also has hype gimmicks.Therefore, for investors, they can pay attention to it for a long time and make appropriate arrangements.
